Fannie Mae — the nation’s leading source of mortgage financing — has also realized the power of rent payment reporting, and it could be a game-changer for first-time homebuyers.
Will the New FICO 10 Scoring System Change How You Review or Report Credit?
February 24, 2020 By Leave a Comment
In late January, Fair Isaac Corporation — the creators of the FICO score — announced they’ll update their scoring model this summer. Called FICO 10, the company’s newest revision will impact an estimated 110 million consumers. But how will this change affect you? First, a FICO primer FICO isn’t just […]
Differences in Reporting Consumer Credit vs. Commercial Credit
January 31, 2020 By Leave a Comment
Most people are familiar with — or at least aware of — consumer credit reports. Most people also know they have a credit score based on their payment histories. They expect debtors to report most of their installment payments to the bureaus. But fewer people have ever heard of business […]
What Is e-OSCAR and Why Should You Care?
August 30, 2019 By Leave a Comment
As you learn more about reporting consumer credit to the bureaus, it’s easy to get lost in all of the industry’s terminology. Credit reporting is full of cryptic acronyms like CRA, DF, FICO, and FCRA. While each of those has a place in your credit reporting vocabulary, it’s important that […]
Take Your Automotive Loan Reporting on a Test Drive
August 7, 2019 By Leave a Comment
One of the fastest ways to determine a consumer’s loan risk is to research his ability to repay an automotive loan. Late payments? Missed payments? Refinancing? It’s all there on credit reports, and it can determine if the risk of making the loan is worth it. So how do you […]