Your CIC News & UpdatesLearn more about the biggest changes to credit reports and how they will affect you, join us at one of the many events we’ll be attending and see what we’ve been up to in the community! |
|
Industry NewsBiggest-Change-to-Credit-ReportsThis report is from Yahoo’s finance section. We wanted to pass the information along to you. You can find out more by clicking here. A ‘Meaningful’ ImpactA new study from major credit scoring model VantageScore recently found that the move could help a number of people improve their credit. The study assumed the most extreme form these changes could take – eliminating all civil judgments and tax-lien data from credit reports – and examined the impact it would have on the VantageScore 3.0 scores for 4 million U.S. consumers. More Consumer-Friendly Credit ReportsThe reduction of tax lien and judgment data isn’t the only change in the works as a result of the 2015 settlement. As part of its National Consumer Assistance Plan, the credit bureaus are also working to overhaul their dispute process by, among other things, employing specially trained personnel to review disputes and supporting documentation; allowing consumers who discover an error after obtaining their credit reports through AnnualCreditReport.com to get a second report free of charge; and providing additional information with the dispute results, including a description of what a consumer can do if they’e not satisfied with the outcome. Getting Healthier CreditThe bureaus were given 3 years to implement the new policies outlined in the agreement. And major changes made by big credit scoring models – including the exclusion of paid medical debt in their calculations – only apply to the latest versions of their scores, which have yet to be adopted by all lenders. |
|
ID Watch: An Exclusive Service Through CIC CreditWhen the IRS rejects a consumer, the applicant, and joint applicant are provided access to a professional Identity Recovery Advocate, who will perform an investigation to determine the extent of the problem and remediate fraudulent activity working under a Limited Power of Attorney authorization.
|
|
Join Us:LMLA Louisiana Mortgage Lenders Association ConferenceWe will be attending the conference, which is August 18-19. Join Vicky Stringer at the conference! You can learn more about it by clicking here. Come join Theresa McCoy on August 24th for the Suncoast Chapter FAMP Meeting. You can find out more about the meeting by clicking here. |
|
The CIC Team in the CommunityThe Ultimate Mortgage ExpoWe had a blast at the UME and saw so many of our great clients. Hope you enjoyed it too! Way to Go Goodlettsville All Star Team!We sponsor this incredible team, and they went on to win the State Championships! Great work! CIC Client Appreciation party at the Cat’s Meow in New OrleansWe wouldn’t be where we are without our clients, and we can’t thank you guys enough. Thank you to everyone who joined us for our Appreciation Party in New Orleans!
|