Credit Report

Freddie Mac – Multiple Selling Guide Updates – Bulletin 2019-5 – Dated March 6, 2019 – Updated-Divorced & Separated Borrowers Chart – All Agencies

Written By: Lloyd Rutherford, Staff Writer This is a big update with a lot of important changes from Freddie Mac.  Take the time to digest the upcoming rule changes by reading through this article and the accompanying bulletin. Rule Synopsis: Freddie Mac is updating their selling guide for a variety of topics. This article will [...]

2019-03-10T14:30:04-05:00March 10th, 2019|

USDA – Disputed Accounts: If there are disputed accounts showing up on the credit report, but all accounts are showed as paid and satisfied, what will USDA require?

Answer: Disputed accounts on an applicant’s credit report are not considered in the credit score. Manually underwritten loans. For manually underwritten loans, all disputed accounts with outstanding balances/payments must have a letter of explanation and documentation supporting the basis of the dispute. Those debts that have been excluded from the debt ratios must have evidence [...]

2019-02-21T16:33:04-05:00February 25th, 2019|

Freddie Mac – Multiple Selling Guide Updates – Bulletin 2019-4 – Dated February 6, 2019 – Effective Immediately

Written By: Lloyd Rutherford, Staff Writer This is one of those selling guide updates that contains a lot of small but very important updates.  Take the time to read through those changes that apply to your business. Rule Synopsis: Freddie Mac is updating their selling guide for a variety of topics. This article will focus on [...]

2019-02-11T09:24:54-05:00February 10th, 2019|

Credit – Freezing Credit – What is the difference between locking credit, freezing credit and a fraud alert? [NEW MTP™ – Guide to Freezing Your Credit!]

Answer: With all of the credit breaches and identify theft going on, consumers have been on high-alert regarding their credit. Locking, freezing and fraud alerts have been a huge money maker for credit bureaus as consumers scrambled to find ways to protect their credit.  Depending on the bureau definition of “lock” vs. “freeze” they may [...]

2018-09-25T09:44:58-05:00September 24th, 2018|

Fannie Mae-Desktop Underwriter Credit-related Error Codes – Job Aid – Dated December 10, 2017 [NEW CHART-DU Credit Related Error Codes]

By:  Lloyd Rutherford-Staff Writer Error codes on any AUS system can be very frustrating.  Having a great reference document handy to cure the issue immediately saves a lot of time and aggravation.  In this article, you’ll find a fantastic Job Aid from Fannie Mae for their DU system. Rule Synopsis: Fannie Mae published a DU [...]

2019-05-31T01:48:10-05:00January 8th, 2018|