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Q? – Why are borrower FICO scores often different between bureaus and credit reporting agencies?

Q? – Why are borrower FICO scores often different between bureaus and credit reporting agencies?

  • Posted by Thomas Conwell
  • On June 15, 2009
  • 0 Comments
  • credit questions, FICO questions, mortgage credit questions
A: There are 2 reasons a borrower’s score may differ between credit reports – even if those reports were produced at virtually the same time. 1) Different Repository Data This accounts for most of the score differences.  Remember that the FICO score is based on what’s contained in that consumer’s repository file at the moment […]
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TB&W To Require 4506 Executions on Most Submissions

  • Posted by Thomas Conwell
  • On June 3, 2009
  • 0 Comments
  • irs 4506t, mortgage, tax returns, tax transcripts, tb&w, w-2
Taylor, Bean and Whitaker has joined the growing ranks of lenders requiring executed 4506 transcripts. From their 5/28/09 alert… Transcript Requirements – Effective with loans locked on or after 10 June, 2009, TB&W will require lenders to provide Tax Transcripts for all loans where income is used to determine eligibility (FHA and VA Streamline refinances […]
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The Home Valuation Code of Conduct (HVCC)

  • Posted by Thomas Conwell
  • On April 15, 2009
  • 0 Comments
If not a “black Friday” – Friday May 1st, 2009 will certainly be dark gray for most mortgage brokers and lenders. New requirements take affect that will instantly change the way most mortgage professionals do business. HVCC is a joint agreement between Freddie Mac and Fannie Mae, the Federal Housing Finance Agency (FHFA), and the New York State […]
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Credit Technologies Launches CTNe.ws Mortgage Credit News Site

  • Posted by Thomas Conwell
  • On April 14, 2009
  • 0 Comments
  • credit technologies, ctne.ws, ctnews, mortgage news
To keep our clients better informed, Credit Technologies has created a news and information site customized for the mortgage banking industry. This new “blog” style site will provide more timely content in an easy to read format. All new content is automatically included in Twitter enabling instant delivery of critical information directly to your phone […]
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