Evergreen, Colo., December 5, 2013 – Advantage Credit was honored recently by being named as one of the top fifty mortgage service providers in the country by Mortgage Executive Magazine. The magazine compiled a list of the nation’s leading companies and chose the top fifty based on service, dedication and hard work. Advantage credit is … Read more
Evergreen, Colo., November 21, 2013 – In an effort to help its clients remain compliant with the Fair Credit Reporting Act, Advantage Credit, Inc., in affiliation with the National Consumer Reporting Association (NCRA), is offering FCRA Compliance Certification. This certification will help users of credit reports understand the FCRA and credit repository policies that regulate … Read more
Evergreen, Colo., November 7, 2013 – Advantage Credit, Inc. is continually striving to improve the customer experience by offering valuable and innovative products and services. Their newest offering, Undisclosed Debt Notification, is a service designed to monitor a borrower’s credit profile throughout the entire loan process helping to ensure a smooth closing. This new service … Read more
In a word… no. Per all credit reporting agencies’ contracts with the national credit bureaus, “any costs or fees bureau charges client for the service will under no circumstances be charged back to the customer, either directly or indirectly…” The reason for the credit bureaus implementing this policy over 15 years ago is based on … Read more
Evergreen, Colo., September 23, 2013 – Advantage Credit Inc., a leading provider of credit reporting services, is pleased to be announced as a preferred credit partner of Stearns Lending. This partnership will allow Advantage Credit customers to reissue their credit reports directly to Stearns Lending’s automated underwriting system, eliminating unnecessary re-access of the information. The … Read more
Did you know…Starting mid November there should no longer be the need to beware of the number 9! Fannie Mae has announced that during the weekend of November 16th, they will be rolling out their Desktop Underwriter (DU) version 9.1 in which they have solved the issue of their software reading short sales as foreclosures. … Read more
Evergreen, Colo., August 27, 2013 – Fannie Mae and Senator Bill Nelson (D) of Florida recently announced a fix to an issue with how short sales are conveyed on credit reports. Fannie Mae, according to its August 22, 2013 Desktop Originator/Desktop Underwriter Release Notes, has provided a mechanism allowing lenders to override incorrect foreclosure tradeline … Read more
Did you know…How a short sale affects your credit? Typically the short sale will show up on a credit report as “settled for less than the full balance”. This will have a negative impact on the borrower’s credit score, however it will be less hurtful than if it were to show as “foreclosure.” How much … Read more
Did you know…adding your child or spouse as an authorized user on a credit card can help them establish credit? It should only be used as a stepping stone to help them establish their own credit, and should not be a long term solution. Once the authorized accounts have helped them establish new credit and … Read more
Did you know…Paying off a collection account does not normally have a positive effect on a credit score? On the contrary, it can actually have a negative effect. The reason being is that the bureaus will not back date the payment date. So that means when a collection is shown as paid off, it will … Read more