The Lowdown on Your Credit Score - 01/17/08 06:11 PM
When you receive your Credit Report from your mortgage lender or bank, take a closer look at the information codes and ask what they mean. Below are some basic pointers about the factors used and how they are viewed by lenders.   
What Is Credit Scoring?Credit scoring is the process of evaluating collected credit account and payment history data on an individual in order to objectively determine that persons credit worthiness. The scores, sometimes referred to as FICO scores (invented by the Fair Isaac Credit Organization) are calculated at the very instant that the credit report is generated, and therefore these scores can … (7 comments)

Bank of America Agrees to Purchase Countrywide - 01/11/08 05:36 PM
 
If you've seen any news on mortgages lately, you already know that the mighty Countrywide has been feeling the pressure from the mortgage meltdown.  Today the deal was struck with Bank of America to purchase Countrywide.  From what I've been reading it looks as if they will keep the name and operate business as usual.  The largest noticeable difference is that Countrywide shareholders will receive partial shares of Bank of America in the deal.  BoA's deep pockets keep Countrywide from going completely bankrupt, BoA gets the trillions of dollars worth of servicing rights to Countrywide's loans, and together they form an … (4 comments)

 

Tony D. Howell

Wilmington, NC

More about me…

The best place EVER!

Address: Wilmington, NC , 28403

Email Me



Links

Archives

RSS 2.0 Feed for this blog