Credit Reports and History: No One Will Care More Than You

Mortgage and Lending with NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656 IL Lic 031.0006220/WI


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 can result in lower Credit Scores.  

       Those lower Credit Scores, in turn, can cost you money when you apply for insurance(s), as insurance rates may be higher as a result.  They can result in costlier cell service, higher car loan interest rates.  

     Or you may find that you're denied when applying for utility service(s), trying to rent, or if hoping to buy or refinance a home ... applying for your mortgage.  

     Got your attention?

     It's a simple fact:  Most people don't check their Credit Reports and Credit Scores as often as they should.  Many errors could be addressed, issues, plus higher costs, could be avoided if they did.    

     But even when errors are found and then corrected within a creditor's accounting system?  Don't assume that those corrections will get reported to the Credit Bureaus, or reported correctly.   

     Here are just 4 examples of the errors and issues I've seen on past clients' Credit Reports when they applied for mortgage:

  • A client made a payment to a Collection Agency regarding their delinquent Utility Bill.  Neither the Creditor or the Collection Agency reported that payment to any of the 3 major Credit Bureaus*.  The client had assumed they would.
  • A client paid a Judgment in full to a county clerk's office. An official "Release" or "Satisfaction of Judgment" was never recorded or forwarded to the Bureaus.  The client had assumed it would be taken care of.
  • A past client shared their name with another family member.  Only the "Junior" and "Senior", plus their social security/date of birth, differentiated them from one another.  We found information and transactions had been reported incorrectly to both family member's Credit Reports.  Both parties had assumed the name differences were clear.
  • A client's Credit Card payments had been made on time, but they hadn't automatically calculated onto their Credit Report.  Creditors may or may not "report" or send data immediately, or even for weeks following a payment or transaction.  The client assumed(during a very narrow processing timeframe) that the payment would be recorded immediately.


     *  The 3 major Credit Bureaus are:  EquifaxTransUnion, and Experian ...

     I want to stress:  What is assumed ... or may seem like a "given", such as a payment of a debt, or a transaction that is straightforward and easy to accomplish, isn't always so.

 Take Control .. Contact Gene Mundt, Mortgage Originator


     We each need to take control of our credit profile and history.  Acknowledge its importance.  Make it a priority.  

     But be aware:  The magnitude of the importance grows as you come closer to the time you hope to buy a home or refinance a loan.  


     It's absolutely true ... and ...

     No one will care (or really should care) more about your Credit and credit standing than you.  No one will suffer more consequences than you should something not be reported ... or an error performed. 

      Make this routine:  Go to, at minimum, once per year.  

     It's simple to accomplish this important task ... and FREE.  Under federal law, you're entitled to obtain a copy of your Credit Report from each of the three major Credit Bureau once annually.  


  • Review your Credit Report and personal Credit History. 
  • Check it for accuracy, as mistakes do happen.   

     Why wait until you're making application for loan or credit to discover that an error is on your Report?  Why pay more for services and products when you deserve better rates?  

     Act proactively.  Take action now.  Doing so will save you time, frustration, and great stress later ...  

     * Hoping to Buy or Refinance a home in New Lenox or elsewhere in the Chicagoland area? Contact me! I'll put my 40+ years of Mortgage experience and expertise hard to work on your behalf.
     I can be easily found at:


Gene Mundt

Mortgage Originator - nmls #216987 - IL Lic. 031.0006220 - WI Licensed


American Portfolio Mortgage Corp.
nmls #175656


Direct: 815.524.2280
Cell/Text: 708.921.6331
eFax: 815.524.2281


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Gene Mundt

 Mortgage Originator  -  NMLS #216987    

                                 IL Lic. #031.0006220  -  WI License #216987                                                                                                    

NMLS #175656


Gene Mundt, Mortgage Originator,  40+ years of #mortgage experience, will offer you exemplary mortgage service and advice when seeking:  #Conventional, #FHA, #VA, #Jumbo, #USDA, and Portfolio Loans in #Chicago and the greater Chicagoland region, including:  The #Lincoln-Way Area, #Will County, (#New Lenox, #Frankfort, #Mokena, #Manhattan, #Joliet, #Shorewood, #Crest Hill, #Plainfield, #Bolingbrook, #Romeoville, #Naperville, #Wilmington, #Peotone, etc.), #DuPage County, the City of Chicago, #Cook County, and elsewhere within IL and Wisconsin. 


Your Referrals & Testimonials are Always Greatly Appreciated! 




Re-Blogged 3 times:

Re-Blogged By Re-Blogged At
  1. Anna Banana Kruchten CRB, CRS 602-380-4886 10/14/2016 06:38 AM
  2. Gabe Sanders 10/22/2016 04:56 PM
  3. Roy Kelley 12/04/2016 05:40 AM
Lending / Financial
Illinois Will County New Lenox
Home & Credit Savvy
Chicago Area Real Estate BUZZ!
credit history
credit reports
credit bureaus
credit and credit repair
importance of checking your credit

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Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude

Hi Gene

This is a top notch post and one that was definitely worthy of being featured. There are many situations that could be prevented, or readily corrected, if paid attention to. Some just feel credit happens to them rather than taking the view of managing it.


Oct 14, 2016 09:10 AM #7
Lou Ludwig
Ludwig & Associates - Boca Raton, FL
Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC


Outstanding post . . . . Your insight on credit reports and credit history is right on point. We have to monitor our credit.

Good luck and success.

Lou Ludwig

Oct 14, 2016 10:26 AM #8
Lou Ludwig
Ludwig & Associates - Boca Raton, FL
Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC


Congratulations on receiving a feature on your post.

Good luck and success.

Lou Ludwig

Oct 14, 2016 10:35 AM #9
John Mosier
Realty ONE Group Mountain Desert - Prescott, AZ
Prescott's Patriot Agent 928 533-8142

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

Monitoring and improving credit may be the absolute best return on investment in time and energy that one can make.  A small amount of time may make a HUGE difference in what one may have to pay through "loan shark rates."

Oct 14, 2016 11:13 AM #10
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Gene one of the problems I am seeing more and more is people finding things wrong on their credit report,  taking the steps to fix what was being reported incorrectly, but then finding out later the item is once again being reported incorrectly.  Credit reports have to be monitored at least a couple of times a year to make sure what is corrected stays corrected.

Oct 14, 2016 11:41 AM #11
Tamara Liggins
Keller Williams Realty, Saint Louis Call Me today at 314.677.6104 - Florissant, MO
Bringing Buyers & Sellers to Homes!

Great post. Another point worth adding which most people don't find out until they've applied for their mortage loan and got the copy of the report from the lender, is the almighty Mortgage Fico scores, differing by quite a few points for a lot of people over your standard Fico 8's or 9's. Some actions we do credit wise have a bigger effect on our Mortgage Ficos vs our regular Fico scores. It took me a long time to realize you have a Standard, Mortage, Bankcard, and Auto scores for each of the three majors and sometimes 2 or 3 versions of each one too. It's good to know which one a lender goes with.

Oct 14, 2016 12:07 PM #12
Florida Tolbert Team Keller Williams Advantage
Keller Williams Advantage III Realty in Lake Nona - Orlando, FL
Keller Williams Land Division Specialist

With so many free ways to check your credit these days. you should be doing it monthly and subscrbe to a service that notifies you should it change.  

Oct 14, 2016 02:06 PM #13
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi - some of these assumptions backfires for consumers - a bit too late when they are about to write an offer and lender says, "You can't buy that home"!

Oct 14, 2016 02:55 PM #14
Debra Leisek
Bay Realty,Inc Homer Alaska - Homer, AK

Great Post with really good information! People are afraid to check their credit because they think it dings them... but they really need to do this as you say once a year and take control of their credit reports! thank you!

Oct 14, 2016 06:09 PM #15
Dorie Dillard CRS GRI ABR
Coldwell Banker United Realtors® ~ 512.750.6899 - Austin, TX
Serving Buyers & Sellers in NW Austin Real Estate

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

Congratulations on a well deserved featured post! Credit reports have to be monitored and it's best to be checking several times a year!

Oct 14, 2016 09:55 PM #16
Harry F. D'Elia
RentVest - Phoenix, AZ
Investor , Mentor, GRI, Radio, CIPS, REOs, ABR

I inform all new buyers to let the mortgage professional pull a credit report then create a game plan for getting approved. Many times people pay off items that lowers their score.

Oct 14, 2016 11:24 PM #17
Ed Silva
RE/MAX Professionals, CT 203-206-0754 - Waterbury, CT
Central CT Real Estate Broker Serving all equally

Knowing our credit scores is not always enough.  Having items on the report that are suspect or wrong needs attention, by all, even those of us that are not looking to buy.  A most informative post.

Oct 15, 2016 12:04 AM #18
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Here is a good and profitable sample of what to expect when engaging Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi for a Real Estate need.

Oct 15, 2016 12:41 AM #19
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of Manchester NH's Leading Agents

Excellent advice Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi , so happy to see this 

Oct 15, 2016 02:02 AM #20
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Good morning Gene.  Excellent advice that we should all heed.  I've found that a few of my credit card bills now provide my credit score each month.  This is a pretty easy way to keep an eye on it.

Oct 16, 2016 10:27 PM #21
Royal Goodman
Royalty Home Solutions - Madera, CA
"We Treat You Like a King"

Well Said Gene. Most dont check their reports. I like to save money. That is why I check mine. Thanks, Royal...

Oct 18, 2016 10:23 AM #22
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good Morning Gene - how wrong it is to assume.  I have found minor things on mine such as an incorrect birth date.

Oct 18, 2016 08:32 PM #23
Lisa Von Domek
Lisa Von Domek Team - Dallas, TX
....Experience Isn't Expensive.... It's Priceless!

Great post Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi it is so important for everyone to take care of their credit information.

Oct 22, 2016 12:36 PM #24
Sharon Tara
Sharon Tara Transformations - Portsmouth, NH
New Hampshire Home Stager

Excellent information Gene! I'm not sure when we last checked our credit scores! Thanks for the reminder. Congrats on the feature!

Oct 25, 2016 12:43 AM #25
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

This is very important information to share.

Have an outstanding week.

Nov 12, 2016 08:14 PM #26
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Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi

708.921.6331 - 40+ yrs experience
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