Associate Consulting LLC, the parent company of Associate Mortgage, has partnered with an Affiliate which we call Affiliate Build Credit Program SM (hereafter referred to as ABC Program) to provide consumers a valuable new tool to demonstrate their credit worthiness.
Below you will find general information on this new affiliation and the steps necessary to build a credit profile.
Our ABC Program utilizes a national “consumer reporting agency”, more commonly known as a credit bureau. We are not providing the company's name to conceal our sources from the competition.
Major corporations have made for fierce competition and sales have decreased nationwide for small businesses due to the globalization of services. This includes mortgage broker businesses even though our services have proved to be superior to some of the major mortgage providers. We are not alone in experiencing this phenomena, we hope you understand.
Below you find the general information on ABC Program and the steps necessary to build a credit profile.
ABC Program OVERVIEW
What is ABC Program?
ABC Program utilizes a national “consumer reporting agency”, more commonly known as a credit bureau.
How is ABC Program different from the “big 3” credit bureaus –Equifax, Experian, and TransUnion?
ABC Program works with the only credit bureau that allows consumers to enroll to demonstrate their fiscal responsibility with information that is not reported to the “big 3”, such as on-time rent and recurring bill payments. ABC Program produces a Report and a Score that are used to supplement “big 3” credit bureau reports and scores, or in their absence.
An ABC Program Report and Score can show that an applicant has paid their bills on time, consecutively, for up to the past three (3) years. Like other credit bureaus, ABC Program maintains bill payment history on file for seven (7) years.
How long has ABC Program been around?
ABC Program utilizes the services of a credit bureau that was incorporated in March 2002. This bureau tracks all recurring bill and loan payments, not just rent.
Is ABC Program reputable?
Our affiliate credit bureau is funded by two grants from the Ford Foundation, and its Charter Data Subscribers include Fannie Mae, Freddie Mac, and Citi Mortgage. Those supporters agree that our ABC Program Report would be a valuable supplement to a credit report from one of the “big 3” credit bureaus - Equifax, Experian, and TransUnion.
What does a ABC Program Report include and what does it look like?
ABC Program Reports are designed to meet or exceed the requirements of Fannie Mae, Freddie Mac and FHA’s guidelines for use of non-traditional credit and may be used when submitting a Non-Traditional Mortgage Credit Report (NTMCR). The growth in the use of alternative credit reports has steadily grown in parallel with the “Emerging Markets”, and many of the largest U.S. lenders accept them with new lenders added regularly.
How will my account information be incorporated into my credit report at the
"Big 3" credit bureaus, Experian, Equifax, and TransUnion?
ABC Program Reports merges your ABC Consumer File with your files from the
"Big 3" credit bureaus in ABC Program Reports to give lenders, insurance
companies, and employers a more complete and accurate picture. Through the ABC
Program the "Big 3" credit bureaus to have access to your ABC Program Consumer
File for "permissible purposes" as defined by the
Fair Credit Reporting Act (FCRA).
This means that when you apply for housing, credit, insurance, and
employment and give your permission, Equifax, Experian, and
TransUnion will be able to add your ABC Program Consumer File to reports
ordered by those who you authorize. The ABC Program will restrict
Equifax, Experian, and TransUnion from adding you and your information to
their mailing lists, as the ABC Program will not sell consumers’ personal
information for marketing purposes.
How can ABC Program help me?
1. It helps you to build your credit. Your traditional credit reports and scores do not include on-time commonly recurring bill payments, such as rent, insurance, cable, phone, remittances, day care, child support, and utilities. ABC Program works with the only credit bureau that enables you to build your credit by having your positive bill payment history reported on your behalf.
2. It helps you to save money. Building a positive bill payment history and Bill Payment Score demonstrates your creditworthiness and fiscal responsibility. Having a positive bill payment history can save you thousands of dollars on a mortgage, hundreds of dollars on an auto loan, insurance, and other major purchases.
3. It helps you because enrollment through Associate Consulting LLC
and its basic services are just $11.00. ABC Program does not charge you a fee to accept account and payment information from approved ABC Program Data Providers, view your ABC Program data, or resolve disputes about information reported about your accounts by ABC Program Data Providers. If you wish to build a bill payment history by providing historical payments to ABC Program, there will be nominal charges for the accounts you would like to be verified and reported to the 'big 3' bureaus.
Each Additional Account
Rent/Mortgage and 3 Trades
Rent or Mortgage
$15.00- 3 Trades or Additional Rent/Mortgage
There are no charges other than the $11.00 enrollment fee until you are prepared to order Verification, you will not be billed again until you authorize or order Verification of your accounts. Twelve months (12) of history is recommended, but a minimum of six months (6 months) per account is required.
How can I use ABC Program?
Enroll in the ABC Program service for $11.00 by clicking here.
a. Select ‘Enroll Now’ and follow the enrollment instructions.
b. You will be emailed your web page to go to along instructions.
c. You may enter information about the accounts that you pay.
d. You may enter payments that you have made against your accounts going back up to thirty six months, provided you have proof of payment.
e. If you have proof of payment, you may order a verification of your accounts and past payments made against those accounts.
Build a Bill Payment History
After enrolling in ABC Program and accessing your Bill Payment History you should add a minimum of four (4) payment accounts (i.e. rent, electric, phone, cable, etc.) with a minimum of twelve (12) months of payments to qualify for most lending programs.
Note: A minimum of six (6) months of complete billing and payment information is required to order a ABC Program Verification
· Log-in to your Consumer Profile and select “Order a Verification”
· Select the accounts you would like to order verification for.
· Complete order form
· Enter Your Promotion code (if not provided, let us know) this assures you receive any applicable discounts or promotions.
Gather required documentation:
a. A signed and dated Consumer Authorization Form.
b. Personal Identification Details, please provide two (2) of the following:
· Social Security
· Work Visa
· Driver's License
· Federal, State, Local, or Military ID
c. Payment Account Details:
· A signed Lease or Mortgage
· Loan Agreement
· Payment Coupon
· Billing or Payment Statement
d. Payment Details:
· Credit Reference Letter stating the open date, contract amount, balance, account status, and payment history
· Consecutive Billing and Payment Statements
· Cancelled Check copies front and back
· Bank, Credit Union, or other bill payment statement
Fax copies of the required documentation to the number provided during the Verification Ordering process.
ABC Program will contact you
You will be notified by ABC Program when the verification order is received, if additional documentation is required, and once the order has been completed.
If you do not have access to the Internet or if you would like additional assistance, call for a Quote for Personalized Assistance. This usually is not necessary but some individuals may not feel comfortable with working on the Internet or may need help with their paperwork and submissions.
Also, if you have any questions or need assistance don't hesitate to contact us.
Keep in mind, EVERY TIME SOMEONE PULLS YOUR CREDIT IT DOES LOWER YOUR
SCORE. Therefore, it is important to select your loan officer wisely, prior to starting your loan request. If you
choose someone who does not deliver what they say or who isn't associated with a lot of lenders, you could end up
lowering your score by going elsewhere and wasting a lot of time too!
More Information about Credit:
When you contact Associate Mortgage we will ask your
permission to pull your credit. Typically this is performed after talking about your needs, wants and learning more
about your qualifications, e.g., employment and debts. So, unless you know you have credit problems it may be best to
let your mortgage broker pull your credit and review it with you in detail.
We have access to over 50,000 loan programs!
We know what each lender is looking for & avoiding!
Contact us directly at (561) 228-8563 or (888) 431-6387,
ask us a question
or two. Or, click on our Live Chat to
message us now!
We look forward to hearing from you, our most important client!
First Published: 2004