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(888) 431-6387
(561) 228-8563
(718) 701-5127

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Your Credit

 

There are a number of actions to can take to improve your Credit or FICO Scores

A number of methods are described in our pages listed below, but a first step may be to 'opt out' of 'PreScreening', 'Affiliate Information Sharing' and/or Affiliate Build Credit Program SM

Opt-out of 'PreScreening'

Prescreening is the practice of selling lists of customers based on information in the credit file. This is done in order to send unsolicited offers of credit to individuals. In some cases, malicious actors have intercepted these offers of credit and have opened account in others' names.

By calling 1-888-5OPTOUT, you can opt-out of "prescreening." Be sure to indicate that you wish to opt-out permanently, otherwise, the Consumer Reporting Agencies (CRA) will start prescreening you again in two years.

To opt-out permanently, you will need to complete a form that the CRAs will send after you complete the call.

You can also opt-out by sending a letter to the three national CRAs. The FTC composed  a Sample Opt-Out Letter to assist you which is available at this site.

Opt-out of 'Affiliate Information Sharing'

Under the Federal Credit Reporting Act (FCRA), individuals can prevent banks, credit card companies, and other creditors from sharing "transactional" and other information. It allows a subsidiary of a bank holding company to share credit reports and information from credit or employment or insurance applications with other affiliates even those without permissible purposes.

Click here to copy a sample letter to Opt-Out of Affiliate information sharing. Just highlight the the text, right click to copy and then open a word processing program and paste. You can then modify the information to reflect your creditors and banks. Save a copy with a title that includes the company's name and retype the next company's information and resave again with a new file name.

Associate Mortgage knows there is more to consider than just a person's Credit Report or FICO® score.

These reports shouldn't be the only factor evaluated for every loan application, every one is unique!

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!

Affiliate Build Credit Program SM

Our parent company, Associate Consulting LLC has partnered with a Credit Reporting Agency to offer Affiliate Build Credit Program SM  (ABC Program SM).

Consumers enroll to demonstrate their fiscal responsibility with information that is not reported to the “big 3”, such as on-time rent, private mortgages not currently reported and recurring bill payments.  The ABC ProgramSM produces a Report and a Score that are used to supplement “big 3” credit bureau reports and scores, or in their absence.  A 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, the ABC Program maintains bill payment history on file for seven (7) years.

To learn more and enroll click here...

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!

In the meantime, if you're still interested in learning more about your credit...or in pulling your credit click here...

An Article about the joint effort of FICO & Equifax to improve consumer awareness

Learn more about your FICO Scores

An Overview of Credit

The Fair Credit Reporting Act (FCRA)

ABC Program

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!

 

Apply Now OnLine: Secure Mortgage Application for Purchase or Refinance of Real Estate in Florida and New York

Page Updated: 07/31/2007

First Published: 2004


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