Significant Changes Coming to Credit Reporting Effective in July

Mortgage and Lending with Franklin Advantage Inc. NMLS Lic. # 343946



Effective July 1st, significant changes will be coming to credit reporting from the three main bureaus.  This change has some in the lending industry worried, while others believe it is a good change for those with past liens and civil judgments.


The change, once again effective on July 1st, will remove liens and civil judgments that meet certain criteria in some cases.  The change will, in many cases, raise the borrowers credit score possibly well above where they might be normally.


This change was enacted due to a recent report issued by the Consumer Finance Protection Bureau(CFPB).


The jury is still out on this one, but again some in the lending industry have already expressed concern about this major change.


To review the article reported today by Mortgage News Daily, go to the link here: Credit Report Changes


So what are your thoughts?  Let's hear your opinions.



Photo Courtesy of Master Isolated Images/


Posted by


Wayne L. Brown, NMLS # 343946
Senior Loan Consultant
Broadview Mortgage
Direct: 858-997-6300

Licensed by the Department of Business Oversight under the California Residential Act License #813B544. Registered with the Nationwide Mortgage Licensing System and Registry, Branch NMLS #170952. Equal Housing Lender.


About Wayne Brown


Wayne is a Licensed Mortgage Banker, and is based in San Diego.  With over 35 years in commercial and mortgage banking, he serves all of California and has closed more than 5,600 loans in his career.


He specializes in Conventional, FHA, VA, and Reverse Mortgages for residential lending purposes.  Both he and his company always strive to exceed each client's expectations through knowledgeable, ethical, and transparent representation to service their financial needs. 


Contact Wayne for a Free and Confidential mortgage analysis and pre-approval without obligation, or to simply get answers to your mortgage questions.  Wayne can be reached directly at 858-997-6300.

Equal Housing Lender                     


This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Lending / Financial
Realtors Needing the services of the Lending Powers
The Lounge at Active Rain
Southern California Real Estate Forum
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credit score
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Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi
NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656 - New Lenox, IL
708.921.6331 - 40+ yrs experience

It's good that the message regarding these changes is getting out there, Wayne L. Brown ... both for the potential clients sake .. and Lenders too.  Time will tell how this plays out ... at least until it becomes the "norm" ...

Good post ..


Mar 14, 2017 02:52 PM #1
Wayne L. Brown
Franklin Advantage Inc. - Alpine, CA

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

Thanks Gene.  It's going to be interesting to see how we lenders are going to handle this down the road.

Thanks for responding.

Mar 14, 2017 04:05 PM #2
Mona Gersky
MoonDancer Realty, Dillsboro,NC - Sylva, NC
GRI,IMSD-Taking the mystery out of real estate.

Wayne L. Brown - thanks for sending me to your post to check out the clip art but also to find out you are friends with one of my favorite guys in AR ever Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi !  Not only am I grateful for the information on the art, I'm glad to have read your post as well. 

Jun 22, 2017 03:56 AM #3
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