Credit Bureau CoreLogic Knows Everything About You

Lenders will soon be able to easily check the deepest recesses of your financial life accessing information that never before appeared on your credit report according to a NYT report. CoreLogic, a credit reporting agency little known to consumers, is offering a new type of credit file based on the huge repository of consumer data it maintains on just about everything that most of the traditional credit bureaus do not: missed rental payments that have gone into collection, any evictions or child support judgments, as well as any applications for payday loans, along with your repayment history. The new report...

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New Rule Requires Lenders to Disclose Credit Scores

Today, the FTC and Fed Reserve announced that lenders will be required to provide free credit scores to borrowers when the lender uses a credit report to set high interest rates or other loan terms that aren’t the best available. Lenders would also need to provide credit scores when they deny credit, change the terms of an existing credit arrangement or refuse to grant credit in the amount or on the terms requested. Various credit scores are marketed to consumers, but those scores aren’t necessarily the ones banks and other lenders are using to make credit decisions according to experts....

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