Ar_home_b_search
 



fair credit reporting act: New Fannie Policy Could Mean Last Minute Problems - 05/26/10 10:42 AM
For the last 18 months most lenders have added additional "Quality Control" in the mortgage process between Underwriting and Funding.  Many of those same Investors require the tax transcripts pulled prior to the loan being submitted for Underwriting, and they perform additional Automated Appraisal Valuations on each file - again as a Quality Control measure... trying to get rid of Fraud.
In an Announcement earlier this month, Fannie Mae made it clear to Lenders that they need to do more to determine "Undisclosed Liabilities."  In particular, Fannie suggests the following:
Refreshing a credit report just prior to closing may uncover additional … (10 comments)

fair credit reporting act: If You're Huntin' A Better Credit Score - Let Sleepin' Dawgs Lie! - 01/13/10 11:13 AM
If you are looking for a new home, you are probably aware that your Credit Score is a CRITICAL item in determining your interest rate and possibly how much house you can buy / qualify for!
We talk to people every week who receive a copy of their credit report, see some derogatory remarks from 2005 and immediately start writing dispute letters.
This might not be your best strategy (each case is different of course), because the credit score is really an indication of what you are about to do.  It tries to PREDICT what your credit behavior is going to … (4 comments)

fair credit reporting act: Do You Have Credit Boo Boos? - 02/27/08 02:07 PM
Does your credit look like a train wreck?  I've talked to several clients recently who hit a rough spot - and are working their way out.  They had some questions I thought other people might need answered too!
How long does negative information stay on a credit report?
The Fair Credit Reporting Act says that negative information can stay on your report for a minimum of seven years (I always thought that said MAXIMUM - but I was wrong).  There are some exceptions to this:
* Delinquency information like late payments remain for seven years from the DATE OF DELINQUENCY.
* Charge-offs stay … (7 comments)

 
Eleanor Ambassador_large

Eleanor Thorne 919-649-5057 Cary Mortgage Loans

Cary, NC

More about me…

Steve Thorne NC Mortgage Experts

Address: 111 Corning Road, Suite 230, Cary, NC, 27518

Office Phone: (919) 649-5058

Cell Phone: (919) 649-5057

Email Me

Web Analytics

Clicky



Listings

Links

Archives

RSS 2.0 Feed for this blog

Find NC real estate agents and Cary real estate on ActiveRain.