Loan and Equity Help

Are there other types of Credit Bureau Scores that can be used in the mortgage industry?
Yes, In a recent industry letter, Freddie Mac made reference to two types of credit scores that correlated strongly with mortgage performance. these were the “bureau scores” created by Fair Isaac as well as the “bankruptcy scores” created by CCN-MDS. Both of these types of scores are available through the three national credit repositories. Fannie Mae issued a similar industry letter which only referenced Fair Isaac Credit Bureau Scores.The 3-bureau report includes your credit reports from all three national credit reporting companies - Experian, Equifax, and Trans Union. A single-bureau report contains your information on file at one of those three credit reporting companies.Each trade line is different, with their own guidelines and rules..

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Suze Orman is one of the country’s top financial advisors as well as a writer of many best-selling books and a television personality. Suze has her own show called The Suze Orman Show on CNBC. She has written 6 books that have all hit the New York Times Best Seller list each time. She has also written, co-produced and hosted 6 PBS specials based on her books. She is also the top seller when she does hosting duties on QVC. Suze won 2 Daytime Emmy Awards for Outstanding Service for her PBS show in 2004 and 2006. She was chosen by Time magazine as one of the most influential people in the world in 2007.

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You perhaps know only too well that the information in your credit report is used by the credit card and loan companies when considering whether to extend credit to you, but do you know just what is actually in your credit report? For example, did you know that the information that are contained in your credit report could influence whether or not you are able to purchase that new house or will need to stay in your present ’shoebox’?

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