Evergreen, Colo., February 16, 2016 – Advantage Credit Inc., a leading provider of credit reporting services to the mortgage industry, is pleased to announce that all credit and settlement services are now available through LendingQB®, a 100% web browser-based, end-to-end mortgage loan origination system (LOS). Users of LendingQB will now be able to seamlessly access … Read more
The Federal Housing Finance Agency (FHFA), the agency that oversees mortgage investors Fannie Mae and Freddie Mac, have ordered the companies to make plans to utilize alternate and/or updated scoring models in 2016 and to move forward in implementing them. This change would have a major impact on credit reports once they are implemented. Right … Read more
Evergreen, Colo., December 17, 2015 – Advantage Credit, Inc. is pleased to announce it is now offering ApplyConnect® the industry’s most advanced rental background screening solution for landlords and real estate agents. “We are so happy to be able offer ApplyConnect® to our landlord partners,” said Jim Kaiser, vice president of sales for Advantage Credit, … Read more
Being an authorized user on someone else’s credit card can sometimes be a double-edged sword, as can having someone as an authorized user on one of your credit cards. At the onset it might seem like a good idea and even help, but without proper consideration it might not turn out to be such a … Read more
It’s that time of year again. Christmas music, holiday lights, beautifully decorated trees and lots and lots of presents. It’s also the time of year when a lot of consumer’s credit scores drop the most. This could take the entire next year, if not longer, from which to recover. This is especially true if the … Read more
Evergreen, Colo., October 29, 2015 – Fannie Mae recently announced that they will require credit data used with Desktop Underwriter to include trended data beginning in 2016. The data provided by Equifax and TransUnion, will allow a better and more thorough analysis of the borrower’s credit history. Advantage Credit, Inc. is gearing up for this … Read more
Inquiries can be quite a dilemma! They are surrounded by confusion and questions: How much do they affect your credit score? What inquiries do and don’t affect your scores? What about rate shopping? What’s the difference between a hard and a soft inquiry? Inquiries can be frustrating because they may have an impact on your … Read more
Everyone knows that credit scores can be confusing; how they are calculated, what goes into them, why they change, etc. There are constant inquiries from frustrated loan officers and borrowers not understanding why a score is low when they can find nothing wrong on the credit report. No late payments, or maybe just an old … Read more
Evergreen, Colo., September 14, 2015 – One way that Advantage Credit, Inc. remains on the cutting-edge of credit reporting is by continually striving to provide the most effective tools and applications. The latest endeavor is to introduce Rapid Rent Reporting, which allows the reporting of a consumer’s rental payment history as a traditional credit report … Read more
How long do items stay on a credit report? A lot of people will answer that question with a simple: “seven years.” In some cases this is true. Overall though, it’s not that simple. Both positive and negative items have a “life span” and those are not all the same. Let’s start with something simple. … Read more