News

  • Did You Know Series Presents: Short Sale Issue Resolved

    • September 5, 2013
    • Posted by: Joel Firestone (G-Net Consulting)
    • Category: News
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    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.

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  • Short Sale Fix Announced

    • August 27, 2013
    • Posted by: Joel Firestone (G-Net Consulting)
    • Category: Press Releases
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    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

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  • Did You Know Series Presents: How A Short Sale Affects Your Credit

    • August 15, 2013
    • Posted by: Joel Firestone (G-Net Consulting)
    • Category: News
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    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

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  • Did You Know Series Presents: Helping Others Establish Credit

    • August 1, 2013
    • Posted by: Joel Firestone (G-Net Consulting)
    • Category: News
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    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

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  • Did You Know Series Presents: Paying Off Collection Accounts

    • July 25, 2013
    • Posted by: Joel Firestone (G-Net Consulting)
    • Category: News
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    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

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  • Did You Know Series Presents: Balances on Revolving Debt

    • July 18, 2013
    • Posted by: Joel Firestone (G-Net Consulting)
    • Category: News
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    Did you know…One of the biggest factors in determining a credit score is balances on revolving debt?  Optimally the bureaus want to see no more than 3 revolving debts with balances and those balances being below 30% of the high credit.  They also want to see several other open revolving accounts with no balances.  Having

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  • Reasons to Avoid Credit Repair Companies

    • June 24, 2013
    • Posted by: Joel Firestone (G-Net Consulting)
    • Category: News
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    There are a lot of reasons to avoid credit repair companies. They usually don’t live up to your expectations, you end up with a lot of money out of pocket and typically, they end up doing more harm to your credit than good. A big downfall of these companies that most people don’t take into

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  • Advantage Credit Launches App

    • May 30, 2013
    • Posted by: Joel Firestone (G-Net Consulting)
    • Category: Press Releases
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    Evergreen, Colo., May 30, 2013 – One way that Advantage Credit Inc. remains on the cutting-edge of credit reporting services is by continually striving to improve the customer experience.  The latest endeavor is an App designed to keep users aware of happenings in the industry. This free App for iPhone, iPad and Android smart phone

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  • Announcing Integration Enhancement with Ellie Mae’s Encompass360 Mortgage Management Solution®

    • May 23, 2013
    • Posted by: Joel Firestone (G-Net Consulting)
    • Category: Press Releases
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    Evergreen, Colo., May 23, 2013 – Advantage Credit Inc., a leading provider of credit reporting services, is pleased to announce that their proprietary Tax Transcript (4506T) products are now available through Ellie Mae’s Encompass360® mortgage management solution. This partnership will allow Encompass360® users to access Advantage Credit Tax Transcript services directly inside Encompass360®. The incorporation

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  • Why Are FICO Scores Different on Mortgage Credit Reports?

    • February 4, 2013
    • Posted by: Joel Firestone (G-Net Consulting)
    • Category: News
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    We all know there are differences in credit scores because of different scoring models (i.e. FICO,Vantage or other proprietary credit scores). Credit scores will also vary depending on the permissiblepurpose behind your accessing a credit report. For example, when a consumer applies for a credit card,the credit score delivered is different than the credit score

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