Which credit reporting agency is referred to most often by lending institutions and creditors?

Asked by Crystal

1 Answer

Log in or sign up with email
By submitting you agree to our Terms of Service
Answered by Greg Fischer, Mortgage Broker in Manchester, NH
There are a number of reporting agencies that lenders can use, and they all compile their data from the same places. We use a company called Birchwood, but the data they provide is the same as Credco, Kroll, Innovis etc.

If you're asking which bureau (Equifax, Transunion, Experian) lenders use, that's a different thing. In the mortgage world, we look at FICO scores from all 3 of those, and qualify based on the middle of the 3 scores. An auto loan company may only care about one of those. A credit card maybe a different mix. With multiple bureaus and 80 some different scoring models available, not every lender will use the same standards. | 09.23.15 @ 16:56
Comment
Log in or sign up with email
By submitting you agree to our Terms of Service
$commenter.renderDisplayableName() — {comment} | 12.08.16 @ 02:28
Log in or sign up with email
By submitting you agree to our Terms of Service
Free MoneyTips Membership!

Get FREE, full access to MoneyTips.com

Answered by

Related Questions

Q&A
Asked by K.robertson49
Q&A
Asked by Elizabeth
Q&A
Asked by a user