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Field Guide to Credit Scoring (courtesy of REALTOR.org)
Credit scoring has become a serious issue in the lending community and it can affect your ability to obtain or refinance your next mortgage. Credit scoring systems can gauge a mortgage applicant's credit rating and assign an interest rate and risk value based upon information provided in the loan application. Credit scoring offers several advantages. It provides quick recommendations while taking human judgment out of the equation. Credit scoring also is extremely efficient and, usually, inexpensive. This page includes articles and books relating to credit scoring. (D. McCormick, Technical Coordinator)
Contents:
Information from NAR | Credit Scoring Basics | Useful Websites | Credit Scoring Organizations | Credit Information Services | Books, eBooks & Other Resources
Updated August 2007)
Credit scoring has become a serious issue in the lending community and it can affect your ability to obtain or refinance your next mortgage. Credit scoring systems can gauge a mortgage applicant's credit rating and assign an interest rate and risk value based upon information provided in the loan application. Credit scoring offers several advantages. It provides quick recommendations while taking human judgment out of the equation. Credit scoring also is extremely efficient and, usually, inexpensive. This page includes articles and books relating to credit scoring. (D. McCormick, Technical Coordinator)
6 Ways to Quickly Boost Credit Scores, (REALTORŪ Magazine Online, July 20, 2007).
For Buyers: Eight ways to improve your credit score, (REALTORŪ Magazine Toolkit).
Mortgage Basics: Understanding Credit Ratings, (REALTORŪ Magazine Toolkit).
Credit Score Checkup Can Make a Difference, (REALTORŪ Magazine Online, July 31, 2006).
Buyer Niches: Tap into Emerging Markets, (REALTORŪ Magazine Online, Apr. 2006).
Credit scoring talking points, (NATIONAL ASSOCIATION OF REALTORSŪ - Public Affairs, Apr. 2004).
Knowing the credit score, (REALTORŪ Magazine, May 2002).
Federal Report Reiterates Credit Scoring Fairness, (Insurance Networking News, Aug. 16, 2007).
Seven Steps to a Credit Score Makeover, (Realty Times, July 19, 2007).
A new way to report risk, (Credit Management, July 2007). Q
Credit unions move into business banking, (San Francisco Business Times, Apr. 20, 2007).
Credit Data on the Fly, (US Banker, Apr. 2007). Q
Credit Scoring - Not Just for Rocket Scientists, (Business Credit, Mar. 2007). Q
Blended Scores are Better Scores, (Business Credit, Jan. 2007). Q
States Seek Disclosure on Credit Scoring, (National Underwriter, Jan. 1, 2007). Q
Banks may rely more on small-business credit scoring, (San Francisco Business Times, Dec. 1, 2006).
Credit Scores are Ever-Changing, (Realty Times, July 26, 2006).
Credit Scoring System Gives, Takes Away Financial Prowess, (Realty Times, May 10, 2006).
Big Three Announce New Credit Score, (Realty Times, Mar. 16, 2006).
How your credit score is calculated, (About.com, 2005).
Protecting your credit score, (MoneyCentral.MSN.com, 2005).
Learning How Your Credit Scores, (Realty Times, Aug. 5, 2005).
Credit Freezing 'Gums up the Works', (Realty Times, June 29, 2005).
Despite criticism, is credit scoring here to stay?, (National Underwriter, June 13, 2005). Q
How credit scores work, how a score is calculated, (Bankrate.com, Apr. 28, 2005).
Credit scoring and the next step, (Business Credit, Mar. 2005). Q
Credit Scores - what you should know about your own, (PBS.org, Nov. 23, 2004).
Don't Score Yourself, (Realty Times, Sept. 10, 2004).
Fannie Mae, (Fannie Mae, 2007).
Fair Isaac Corporation, (Fair, Isaac & Company, Inc., 2007).
Federal Trade Commission
Consumer Response Center
CRC-240
Washington, D.C. 20580
Phone: 202-382-4357
email: uce@ftc.gov
http://www.ftc.gov
Click here for full-text of Fair Credit Reporting Act
Credit Information Services
Equifax- P.O. Box 740241, Atlanta, GA 30374- Phone: 800-685-1111- email: customer.care@equifax.com
Trans Union- P.O. Box 2000, Chester, PA 19022- Phone: 800-322-8228
Experian- 475 Anton Blvd., Costa Mesa, CA 92626- Phone: 888-397-3742
Cis Data Systems- 2030 Franklin St., 5th Floor- Oakland, CA 94612- Phone: 510-524-9872- email: info@credit-reports.com
QSpace- PO Box 19729. Irvine, CA 92623- Phone: 888-888-8553- email: contact@qspace.com
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