Credit Rating & Score
The inconvenient truth about credit scoring
To a mortgage professional there’s nothing more frustrating than spending time preparing and submitting an application on behalf of a client, only to find it’s declined due to a credit problem.What can often add insult to injury is learning that the credit problem in question is something as small as a paid default to a phone carrier, often an event that took place years prior. This situation can be very difficult for a client to grasp; after all, such a listing may not at all represent their current financial position or ability to service a loan.
