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Industry
News You Can Use
December 2006 |
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Option
One Mortgage Co. & Fieldstone Mortgage Co. Accepting
IR Credit Reports!
We are pleased to announce the addition of these two great
lenders to our vast reissue network. Reissuing credit reports
to any lender in our reissue network means that they do
not have to pull an additional credit report, which results
in the credit scores remaining exactly the same. No credit
score surprises and no hassles. In 2007, we have many more
great lenders coming on board!
Single
Women Buying More Homes
According to the National Association of REALTORS, single
women made up 22 percent of homebuyers in 2006. Married
couples account for 61 percent, and single men made up 9
percent.
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Customer
Service Tip
Bankruptcies
and Tax Liens: How long do they stay on a credit report?
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Chapter
7 Bankruptcy |
10
years from date of filing
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Chapter
13 Bankruptcy |
10
years from date of filing
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Unpaid
tax lien |
Indefinitely
(If filed in Calif., 10 years from date of filing)
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Paid
tax lien |
Up to
7 years from date released
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Credit
ReScoreTM- Turning Bad Credit Into a Great Loan
Our
Credit ReScore product can take a seemingly hopeless credit
situation, improve it and give you the ability to offer
better loan terms benefits to your borrowers. That’s
exactly what it did for Valencia Perine, whose borrower
started with a credit score of 599. In an email to us, Valencia
wrote:
“…Due
to the great job you did, it (the credit score) was raised
to 690. The dedication you have for your clients is superb,
above no other company. Due to the higher credit score,
we are able to shop for a better rate and program while
lowering her payments in the process. I am truly appreciative
of all the hard work that went into making this happen.”
Valencia
Perine
Loan Officer
Lakewood, California
Key
Benefits
- Keeps
your loan moving forward; 3 to 4 day average turnaround
versus 30 - 60 days of working directly with the bureaus
- Ability
to offer more competitive loans, lower rates and higher
LTV ratios to your borrowers
- Provide
better customer service by permanently removing incorrect
information
Five
Simple Steps
- Determine
the credit score(s) that you would like to change
- Use
the What If simulator to determine what tradelines
can be changed to raise the score
- Obtain
the verifiable documentation to support the change(s)
- Informative
Research will forward the information to the specified
bureaus on your borrower’s behalf
- We
will inform you when the borrower's credit report
is ready to be re-pulled
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Informative
Research
13030 Euclid St. Garden Grove, CA 92842
800.473.4633 714.698.2855
As
a leading provider of credit and mortgage-related information
to the lending community since 1946, we apply our knowledge
and experience to develop progressive technologies and
build industry relationships that help you minimize risk,
expedite the loan process and increase your profitability.
In addition to our credit reporting services, rescoring
programs and flood determination products, we offer you
time- and money-saving connectivity with a growing list
of lending channels in primary and secondary markets.
We back our accurate, easy-to-use products with premier
customer service and support.
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