Mortgage Not Reporting
CAN YOU GET AN ACCOUNT ADDED TO YOUR CREDIT REPORT? Probably not. A mortgage lender posed the question this week: A consumer has a mortgage owned by a hedge fund that is serviced through a title company. It is not on their credit reports. Is there anything they can do? The three major credit reporting agencies, Equifax, Experian and TransUnion, are for profit companies. With the exception of public records, the accounts listed on a consumer's credit report are reported by 'subscribers'. These subscribers are companies that pay the credit bureaus a fee to report their customers' information monthly to the credit bureaus. So as a consumer, you have the right to ask that something be added to your credit report. However, it is not likely to happen. To be a subscriber, companies must be screened and sign contracts with the credit reporting agencies to make sure ...
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