credit reports: Do These Things During the Month of November - 11/07/17 07:52 AM
 
 
Do These Things During the Month of November
 
November is one very busy month, no doubt about it.  But no matter how busy life gets for you, there are a few tasks that you just shouldn't overlook.
 
 
So what are some of the important tasks you should be tackling throughout the month of November? 
 
Things that will ensure your good health, comfort, and safety?
 
 
Following are the most important tasks:
     Everyone:

Run your Credit Report:  With the recent Equifax data breach, it's more important than ever to stay vigilant. Head to:  www.annualcreditreport.com now.  Think About Getting a Flu Shot:  Especially if you're over the age of 65 … (13 comments)

credit reports: Are Some Credit Reports "Fake News"? - 03/27/17 03:24 PM
  Are Some Credit Reports "Fake News"?
Per a Housing Wire report, Experian (one of the 3 major credit bureaus) was fined $3 million for representing that their "purchased" credit scores were the same scores used by Lenders for Mortgage Underwriting decisions. (Housing Wire article link)
Their consumers were, (and I am paraphrasing), "receiving the exact same credit scores that Mortgage Lenders use to make loan and credit decisions".  This, they promised, would prove to be a great advantage to these consumers as they started their home shopping and mortgage search.
 
The CFPB (Consumer Financial Protection Bureau) found Experian's sales approach very misleading ... because it was.  They took appropriate action and … (44 comments)

credit reports: It's Time to Request Your FREE Credit Report - 02/07/17 03:02 PM
 
It's Time to Request Your FREE Credit Report
 
Credit advice is everywhere ... 
The internet, social media, news outlets, financial and lending institutions, and more provide a never-ending supply of it.
So by now, you've probably seen and heard that your Credit Score is important ... and that you should check your Credit Report on a consistent and timely basis.  

 
But where do you start?  
There are 2 simple ways to achieve this important task:
1:  You can talk to your Lender.  
     This is most commonly done when applying for a mortgage (or loan of some kind), but it can be accomplished at any time.  (It must be … (19 comments)

credit reports: Is Paperless Billing Right for YOU? - 01/02/17 10:27 AM
 Is Paperless Billing Right for YOU?     
     These days, companies are under pressure to go "green" and become more environmentally friendly.  As a result, an increasing number of businesses are offering their customers a paperless option with which to receive and pay their bills. 
     There are obviously many positives to be found within these paperless services: 

Trees are saved   Reduced postage costs   Less paper documentation to organize or save/store Possible rewards for switching to paperless Payments can often be made/posted same-day Automated payments can be set-up More
     But I can tell you from my vantage point as a Chicagoland/IL/WI Mortgage Originator, … (12 comments)

credit reports: Credit Reports and History: No One Will Care More Than You - 10/14/16 12:50 AM
 
Credit Reports and History:
No One Will Care More Than You
 
 
     No one cares more about your Credit and credit standing than you ... right?  Or should ...
         While we expect creditors (banks, credit card companies, collection agencies, student loan lenders, medical providers, retailers, etc.) to act on our behalf regarding the recording of transactions, payments, and accounts, it's a fact ... errors occur.  Errors that result in damage to our Credit History, Credit Scores, and our wallets. 
      How's that?  Errors on our Credit Reports have repercussions.  Some errors remain undetected for long periods of time.  But even if short in duration, errors … (26 comments)

credit reports: How to ROCK the Rest of your August - Gene Mundt, Chicagoland Mortgage Lender Newsletter - 08/11/15 07:07 AM
How to ROCK the Rest of your August
Gene Mundt, Chicagoland Mortgage Lender Newsletter
 
 
Friends!

Hard to believe!  We're already in the middle of August and School and Fall are just around the corner again. That means time is of the essence if you hope to tackle and complete some "end of Summer" tasks. 
I've included:  Timely ideas, tips, and reminders below. All will help you "rock" the rest of August and help prepare you, your finances, your family, and home for Fall. 
Don't be shy ... when it comes to sharing this info. Pass it on (along with my name and contact info) to anyone you … (14 comments)

credit reports: Disputing Disputed Accounts - 07/10/15 06:21 AM
 
Disputing Disputed Accounts

     Have you reviewed your Credit Report and Credit Scores recently?  If not, I urge you to do so.  For a number of reasons.     
     But if you have:  I applaud you. Did you find a debt, account, or error there though? After finding it, did you contact a Creditor, a major Credit Bureau, or take action to "dispute" the account?  
     If you're planning on borrowing money SOON ...  I'd advise against disputing an account or error that's appearing on your Credit Report ...
     Mortgage Underwriting platforms have changed their stance on "disputed accounts".  Disputes used to … (41 comments)

credit reports: Millennials: How to Establish Credit Quickly and Easily - 06/19/15 06:15 AM
Millennials: How to Establish Credit Quickly and Easily      
     Credit ... Credit Scores ... they're a big issue, no matter someone's age ...    
   
     But for Millennial-age hopeful home buyers, credit-related issues are of particular interest and importance these days.  I'll add they may be a bit frustrating too ...
     It's been very well-documented:  The job market and financial problems have dogged Millennials.  
     As a result, many have poor credit.  Or have avoided accumulating debt entirely.  They pay cash for every purchase or bill they have.
     Each credit issue presents its own challenge.  Decidedly so when … (49 comments)

credit reports: Think You Can't Buy a Home in Chicagoland? 10 Facts That May Change Your Mind - 11/06/14 04:34 AM
 
 Think You Can't Buy a Home in Chicagoland? 10 Facts That May Change Your Mind
     I've found that Home Buyers looking to be Pre-Qualified  for a home loan purchase are sometimes quite surprised by their ability to successfully get a Loan Approval without having PERFECT credit.   
     To add to that (pleasant) surprise, they also find that they can obtain a Mortgage with just 3.5% down payment for a FHA loan, or even no (0%) down payment as a Veteran (VA Loan).  In certain rural areas, USDA-Rural Development Loans are also available with no down (0%) payment requirements.
     … (13 comments)

credit reports: The Hidden Truths Within Bankruptcy Filings - 10/20/14 10:38 AM
 
 
The Hidden Truths Within Bankruptcy Filings

     We've arrived at an unique point in the world of home buying and financing.  It comes on the heels of several years of financial hardships, unprecedented foreclosures, and job losses.    
      These challenges faced have often lead to the filing of Bankruptcy.  What's been contained, or included, in these Bankruptcy filings, are referred to as "Schedules".
     
     First of all, let's understand the "layers" and the timelines involved in a Bankruptcy. 
     First, there is a:  Filing Date.  
     That is followed by a:  Discharge Date, a date that's usually a few months after the Filing. 
     … (8 comments)

credit reports: Boomerang Buyers: What to do if you see a Short Sale in your Rearview Mirror - 01/16/14 02:05 AM
 
Boomerang Buyers: What to do if you see a  Short Sale in your Rearview Mirror  
        You've probably seen me mention the term "Boomerang Buyer" in a few of my posts before.  This is a classification of potential Home Buyer that is contacting me more and more often for info, as of late.  As the housing downturn gets further and further in our rearview mirror, I believe that will happen even more often in the future.
     Because of the financial and real estate scenarios that gave birth to the "Boomerang Buyer" moniker, many of the questions … (11 comments)

credit reports: When Inaccuracies Show on your Credit Report ... What Then? - 11/07/13 10:54 AM
When Inaccuracies Show on your Credit Report ...
What Then?  
     Credit Scores and Credit Reports are very important ...
     That's true whether someone is hoping to buy a home (or refinance) or not. But should you be someone in the hunt for Mortgage financing to purchase or refinance a home, the stakes get higher. Your Credit Scores and Credit Reports become paramount to the success you'll discover when financing and the end-costs you face.
     Most of my Mortgage clients understand this when we speak the first time. Often one of their first questions is: At what … (5 comments)

credit reports: Are YOU making your financial life harder than it needs to be? - 05/17/13 07:47 AM
 
Are YOU making your financial life harder than it needs to be?  

     Are YOU paying more for utilities, insurance(s), rent, and cell phone plans than your friends are?  You might want to take a look at your Credit ...

     Seems I'm always compelled to write something on the topic of Credit.  Why it's important to have good Credit.  How to establish good Credit.  How to improve or repair your Credit.  How to keep good Credit Scores ... and much more.

     It also seems there's good reason to be concerned about this topic too.  … (12 comments)

credit reports: "Nothing in Life Comes Free" ... just like the old saying goes - 05/13/13 08:13 AM
 
"Nothing in Life Comes Free" ...  just like the old saying goes
      
        I'm sure you've heard the statement, 

           "Nothing in life comes free" 

      Well, a blog I read today, written by fellow mortgage lender  Joe Petrowsky  on ActiveRain, reminded me of the wisdom and important lessons contained within this statement.  

      Joe had started the mortgage process with a new client by running the client's credit report.  His client had sought out the services of a credit repair company to help him improve … (16 comments)

credit reports: Protecting a Child's Identity has Become More of a Challenge and Increasingly Important for Today's Parents. - 04/19/13 09:02 AM
 
Protecting a Child's Identity has Become More of a Challenge and Increasingly Important for Today's Parents.

     In the last two or so years, my wife and I have become grandparents twice.  Suffice it to say, "things have changed"  a bit since we had our two babies ... now parents of their own at 33 and 29 years old.


     Back when Marilyn and I had our two boys, we thought that as parents we were pretty on top of things when we got them their own Social Security numbers fairly early on.  We thought … (8 comments)

credit reports: There are Many Joys and Benefits to Working with Long Time Referral Partners and Friends ... But Today I Won't be Experiencing Them - 03/19/13 08:31 AM
 
    There are Many Joys and Benefits to Working with     
Long Time Referral Partners and Friends ...
But Today I Won't be Experiencing Them  
     Having been in the mortgage business for so long and having served many of the same referral partners during that entire time, has its good points and its bad.  I think the good ones are fairly obvious.  Who doesn't love having established long term relationships and working with those that have, after so many years, become good friends too?

     But as many pluses as there are to these situations, there … (43 comments)

credit reports: The Changing Status of "Non-Traditional Credit References" - 03/14/13 03:48 AM
 
The Changing Status of  "Non-Traditional Credit References"  

     When talking with potential clients seeking mortgage financing, one of the very first things I do is provide the address to my website.  I've loaded my mortgage website with helpful info and tools to benefit all those that visit there.

      One of the bits of info that I use and stress the importance of, is my "Mortgage Checklist".  This list includes the info and documentation that is typically needed for mortgage application and processing.   Having this list available ahead of time helps applicants tremendously and makes their mortgage … (33 comments)

credit reports: 1 More Reason to Have Good Credit ... and Keep Good Credit - 01/29/13 05:10 AM
 
1 More Reason to Have Good Credit ... and Keep Good Credit


     Did you know that ... according to a survey by the  Society for Human Resource Management,  60% of private employers check the credit histories of at least some of their job applicants.  13% conduct them on ALL candidates. 
       Rather sobering statistics that provide even more credibility to my ongoing message regarding the importance of good credit.  Creating a good credit history, then maintaining it is vital these days.  It's why I recommend checking your credit, at minimum, once per year, … (37 comments)

credit reports: Credit and Credit Management: Reasons to Pay Attention - 01/14/13 03:59 AM
 
Credit and Credit Management:   Reasons to Pay Attention


    It's not hard to find advice on a full-range of credit issues today.  Experts (or so called experts) are everywhere.  So I find that most of my clients come to me with the understanding that credit scores are very important ... and growing more so each day. 
      But experience with Borrowers pertaining to credit management has made it abundantly clear to me, that way too many do not spend enough time or pay the proper attention to their finances.  That simple steps needed for credit maintenance are … (26 comments)

credit reports: The Power of your PIN or Password: Wimpy or Mighty? - 09/28/12 12:35 AM
 
The Power of your PIN or Password: Wimpy or Mighty?                 As a  Mortgage Lender, I see and review many credit reports for clients and Referral Partners. And all too often, those reports I'm reviewing exhibit that security breaches or errors have been made on accounts, both banking and credit.         Now sometimes, especially when human error is involved, the problem is easily fixed. In those cases, proof is produced to clear-up the problem ... and/or a Letter of Explanation is provided to the account holder (or credit bureau itself) to rectify the issue. … (29 comments)

 
Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi, 708.921.6331 - 40+ yrs experience (NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656) Rainmaker large

Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi

708.921.6331 - 40+ yrs experience

New Lenox, IL

More about me…

NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656

Address: Gene Mundt, Mortgage Originator c/o American Portfolio Mortgage Corp., 318 Alana Drive, New Lenox, IL, 60451

Mobile: (708) 921-6331

Office: (815) 524-2280

Email Me



Listings

Links

Archives

RSS 2.0 Feed for this blog