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Our mission is to provide readers with accurate and unbiased information, and we have editorial standards in place to ensure that happens. Then, they'll combine these three reports into one comprehensive document. (fixed number A bad credit score can even affect your love life: one Bankrate survey found that 4 in 10 Americans might swipe left after knowing someones credit score. Is Factual Data A Legit Company. Account History 7. [3] INQUIRY DATA:Shows information used to inquire on the file. Credit scores are produced by FICO and are based off of information that appears on your credit report, such as amounts owed, length of credit history, new credit, payment history, types of credit used, types of inquiries and public record information. The next step is designed to verify your identity. . Knowing how to read your credit report helps you understand how to improve your credit and maintain a healthy credit score. View the Trades section on your Experian report. Credit usage over time. If you want to pursue this route, then check out Credit Saint. 2. [2] Date file was accessed (mm/dd/yy). After that you receive a code "9" which means the account has gone to collections. This section does not include arrests, lawsuits, divorces or unaffiliated infractions with the law, like speeding tickets. A "1" means the account is current and every number after that denotes a 30-day late payment, in increments of 30 days. This continues up to "7" which means 180 days late. PO Box 105281. Bankrate follows a strict editorial policy, so you can trust that were putting your interests first. How to Read a Credit Report? Next to each account, it will identify which bureauor bureausreported the account. Offering a variety of credit data solutionsfrom credit reports to workflow solutions designed to build automation and efficiency into your lending process. Public records stay on your report for seven years with one exception: Chapter 7 bankruptcy will stay on your report for 10 years. Should you accept an early retirement offer? You can first try contacting the background check company that issued your report and ask if they would be willing to amend it if you prove that it contains factual inaccuracies. Call (833) 563-0402 Trustpilot Factual Data provides credit check services for lenders. Factual Data provides credit information from Consumer Reporting Agencies (CRAs) to its clients, which are primarily banks, mortgage companies and other lending institutions that have a permissible purpose under the Fair Credit Reporting Act (FCRA) to obtain credit information for lending purposes. The content created by our editorial staff is objective, factual, and not influenced by our advertisers. For questions regarding how to report transferred, sold or purchased accounts, please contact your Data Reporting Representative or the Data Operations team at dasworkpool@transunion.com or (800) 303-9664. Ultimately, Factual Data pulls your credit report from all three credit bureaus (Experian, Equifax, & TransUnion) and merges it into one concise report, so lenders can make clear and quick decisions on whether they should provide you with a loan or not. This interactive guide displays an example of a personal credit report and explains how each part works. Have you recently come across the name Factual Data on your credit report and wondered what it is? Authorized User Alert The alert parameters are set up on a case by case basis but typically, the alert is generated when 1. a consumer has 5 or more authorized user accounts on their credit report or 2. if the consumers Credit Report contains authorized user accounts comprising 25% or more of satisfactory open revolving accounts. Each of the reporting companies uses a different code series. Factual Data does not maintain a database of consumer information. Soft inquiries, as described above, simply verify your score. Factual Data can help you understand any information on your Factual Data credit report and answer questions you have about the credit report. Factual Data Corp. (FDC) is a credit reporting agency employed by lenders to obtain potential borrowers' credit reports from Experian, Equifax and TransUnion. OFAC Alert Provides a record of the check against the Office of Foreign Assets Control database for USA PATRIOT Act compliance. Lenders use your history with credit to determine how reliable of a borrower you are. What's the Difference Between Pre-Qualification and Pre-Approval? Credit can make or break your chances at a mortgage and influences what kind of credit cards, insurances and interest rates you qualify for. Factual Data Contact Information. 7 calle 1, Suite 204 Opinions are our own, but compensation and in-depth research determine where and how companies may appear. Every day, we strive to bring you peace-of-mind as you work toward your financial goals. This type of inquiry is added to your report, where it will stay for two years. You can also request your reports by calling 877-322-8228 or by downloading a request form and mailing it to: Annual Credit Report Request Service Opinions expressed therein are solely those of the reviewer and have not been reviewed or approved by any advertiser. Every day, we continue our mission of Helping Lenders Expand Homeownership. Credit reports are merged in LendingPads document management system and liabilities data is updated in real time. Carefully scrutinize your credit history to check that the account number, account name, balance amount, payment history, payment due date and payment status are all correct. Our experts have learned the ins and outs of credit card applications and policies so you dont have to. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories, except where prohibited by law for our mortgage, home equity and other home lending products. Instead, its a company that runs credit checks for lenders. Call (877) 284-8322 to speak with a Factual Data representative today, or complete the form below. What to do when you lose your 401(k) match, explain why theres a negative item to your report, How to dispute an error on your credit report, California Consumer Financial Privacy Notice, Open accounts erroneously reported as delinquent, Accounts in good standing incorrectly reported delinquent, Payments reported as late when you paid them on time, Incorrect dates: date account opened and/or closed, last payment or first delinquent payment, The same account listed multiple times under the names of different creditors (this can happen with delinquent accounts or accounts sent to collections), Open accounts reporting you as the owner when you are an authorized user, Unfamiliar accounts and account numbers you dont recognize, Former spouses listed on credit cards, loans and bank accounts, Incorrect reporting of account status, such as accounts incorrectly reported as late or delinquent, Gather relevant documents to dispute credit report errors. Factual Data or FDC is a company that offers credit verification services to the mortgage industry. In this example, a truck loan was granted, and the credit grantee agreed to surrender his truck if he is unable to pay the loan. That's in addition to the one free Equifax report (plus your Experian and TransUnion reports) you can get at AnnualCreditReport.com. By providing my email address, I agree to CreditCards.coms We may assist you if one of our clients accessed your credit report through Factual Data. "They were very creative in helping us find a solution for our pricing model That has saved us a ton of money.". Credit account information as reported to Equifax by your lenders and creditors. Credit history requests include creditors who have requested your credit report. 2023 Bankrate, LLC. CreditCards.com does not include the entire universe of available financial or credit offers.CCDC has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover. Sample credit report shows examples of common features. I agree to Money's Terms of Use and Privacy Notice and consent to the processing of my personal information. However, due to the COVID-19 pandemic, as of April 2020, the Consumer Financial Protection Bureau has temporarily extended that deadline to 45 days. You have a 14-day window to apply for similar loans, during which time individual applications shouldnt lower your score. Plan the structure of the report. A page of questions appears about your creditors, loan terms or other details on the credit report that youre expected to know. See the CFPB question and answer pagefor more information. Make sure the public record pertains to you with the correct name, date of birth, address, and personal information included. The credit report includes borrower information, public records; inquiries, credit account information, and credit scores. Credit scores on your Factual Data credit report are calculated using FICO. Join lenders nationwide in starting your client relationship off on the right foot with a Pre-Qualification credit report. Check the data at the top of this page and the bank's website for the most current information. In this case, just an individual credit history report was requested. Or, you can get a free TransUnion credit report from CreditCards.com. Factual Data credit inquiry. For further information about automated content on CreditCards.com, email Lance Davis, VP of Content, at lance.davis@bankrate.com. 7/13 Bureau Score Information: Lists the bureaus that were requested and the score. Factual Data does not make lending decisions. The credit summary section of your credit report summarizes information about the different types of accounts you have. Can Factual Data Consumer Assistance explain why I was denied credit? Factual Data Corp. (FDC) is a credit reporting agency employed by lenders to obtain potential borrowers credit reports from Experian, Equifax and TransUnion. 1997-2022 Creditfirm.net - All rights reserved. Upon visiting AnnualCreditReport.com, users are directed to a form page and asked to provide personal identifying information, including name and address, Social Security number and date of birth. You need to monitor your credit reports regularly to catch potential identity theft and fraud. Our team is made up of diverse individuals with a wide range of expertise and complementary backgrounds. Factual Data is a company that offers consumer credit and verification services to the mortgage lending industry. As you can see above, a hard inquiry from FDC isnt detrimental to your financial goals. Regularly reviewing your credit report at least once a year also gives you a chance to correct any errors to make sure your credit report is an accurate representation of your financial situation. Discard extraneous material and focus on the essential. Only some employers will report your employment information to one or all of the credit bureaus. Parts of a Credit Report 1. Credit Overview 2. Credit Used 3. To request a free copy of your Factual Data credit report you can write or call them: Factual Data Attn: Consumer . As always, dont forget that you have several excellent credit repair companies at your disposal that can help take your credit score to the next level. What are the different credit score ranges? Responsibility: Individual accountDate opened: 03/2008Date closed: 05/2014Date paid: 05/2014. Pub/Other Trade Oldest-Newest Total High Credit Rating for R/O/I/M/C 4 01/2001 - 06/2004 3 2800 - 28K 1-One, 1-Two, 1-Other LEGEND [1] CONSUMER REFERRAL TELEPHONE NUMBER: Tells credit grantor where consumers may call if they are denied credit. Offers may be subject to change without notice. A dollar amount may also be shown representing the amount discharged or the amount the bankruptcy was filed for. It's one more piece of information that lenders use, Granger says. Responsibility: Individual accountDate opened: 11/2002. This will help you spot changes and errors from one year to the next. Experian, TransUnion and Equifax all accept online disputes. With Pre-Qualification, youll receive an estimate of where the consumers credit stands. how to read a factual data credit report. For a Free Consultation & Credit Evaluation Call: 800-750-1416. Hard inquiries matter because they can indicate increased risk to lenders as they wonder why you want or need more credit. How do I request a block of information on my Factual Data credit report if Im the victim of human trafficking? this post may contain references to products from our partners. The type of inquiry is the scope of credit history requested whether a persons credit history or an organization or businesss credit history. Please reach out to us with questions. When you click on By law, you have 30 days to dispute an inaccurate entry on your credit report, so you should act fast if you think something is amiss on your report. Dont panic if all your employment information is not recorded on this report. *Factual Data Pre-Qualification reports cannot be used to pre-approve a consumer. For the most up-to-date version of your credit report, please contact TransUnion, Experian, or Equifax directly or visit annualcreditreport.com. With tools like CardMatch and in-depth advice from our editors, we present you with digestible information so you can make informed financial decisions. Weve maintained this reputation for over four decades by demystifying the financial decision-making File a Dispute to Remove the Credco Hard Inquiry. Credit reports are an important snapshot of your financial health. If a Factual Data client requested a copy of your credit report through our system and there is inaccurate or incomplete information appearing on it, you can dispute that information by contacting us via fax, mail or phone. If it is clear that that consumer doesnt meet your criteria after a soft inquiry, you canstop the process and avoid additional downstream expenses. Call (877) 284-8322 to speak with a Pre-Qualification specialist today, or complete the form below. Privacy Policy. Pre-Qualification Application Processing Underwriting Pre-Closing Post-Closing Learn More Credit Services Human Trafficking Victim Credit Resources. While we adhere to strict The company provides risk mitigation by automating the underwriting process in the U.S. Save your credit reports so you have an accurate view of your total credit history. All this information is used to generate your credit score, which is a numerical representation of your overall creditworthiness. Personal statements range from fraud alerts to consumer statements about being unemployed. Application: In this stage, they provide merged credit reports in easy-to-read formats. If you see a code "B" this means there was a payment change and no other code is applicable. There are two types of inquiries: "hard" and "soft." You can get a free credit report, but do you know how to read and understand it? Pre-qualification: They filter candidates based on 1, 2, or 3 bureaus' soft inquiry credit reports. Credit information about closed accounts in good standing will disappear from your credit report after 10 years. If you continue to miss the due date, you can incur additional late fees. Note this number when you need to contact Equifax, Experian or TransUnion online, by phone or by mail. Contact the Background Check Company. Since these agencies don't share information . Creditors, like banks and credit card issuers, report information about their customers and accounts. Our banking reporters and editors focus on the points consumers care about most the best banks, latest rates, different types of accounts, money-saving tips and more so you can feel confident as youre managing your money. Having good credit can make it easier for banks and lenders to say yes to your credit applications, and youre more likely to be offered lower interest rates or better loan conditions, like a low fixed-rate mortgage or a higher credit limit on a card. Combining innovative services with cutting-edge technology and industry-leading customer service, Factual Data enables prompt, accurate decisions. Lets face it theres a lot of jargon and high-level talk in the credit card industry. Credit bureaus require anyone requesting your credit history to provide the purpose for their credit history query. However, we may receive compensation when you click on links to products from our partners. Visit the Annual Credit Report website to get a copy of your free credit report (see Resources section). The agreement allows Factual Data customers to automatically access credit report data within their Salesforce environment. Bankrate follows a strict Bankrate has answers. It verifies information by using your Social Security number and looks at credit information from FICO scoring models, which includes new credit and credit history. Our goal is to give you the best advice to help you make smart personal finance decisions. You can pull your 3B report at this site and see exactly what is on there and what your mortgage scores are. How Do You Interpret a Credit Score? You can dispute the error by contacting FDC and the credit bureaus. Other potential errors in this section include: Make sure that every account listed belongs to you. Every part of your credit report needs to pertain to you: not your dependents, not your former spouse, and especially not a stranger with the same name. But once again, Each individual Group can have various structure and style for his or her Expert interaction. That said, issuers typically consider similar closely-timed inquiries as a single inquiry if they happen within a certain time frame (usually 45 days or less). the "Apply Now" button, you can review the credit card terms and conditions on the issuer's web site. As such, they may obtain one or all of your credit reports in the screening process or a merged Factual Data credit report. With the tools and resources provided by the FCRA, youre fully equipped to dispute an inaccurate entry on your credit report, but you dont have to do it alone. is a former senior reporter for CreditCards.com. Mistakes happen and its important to catch them as incorrect information can affect your credit score, as well as any application processes that consider your report. Addresses and Employment 9. to maintain accurate information. Who is Factual Data by CBC? If you would like to know the name of our client that requested a copy of your credit report, please contact us. The easy-to-read report highlight We do not include the universe of companies or financial offers that may be available to you. This information includes the types of accounts, the date those accounts were opened, your credit limit or loan amount, current balances on the accounts and payment history. If you have any questions about reading and understanding your credit report or would like to find out how CreditFirm.net can help you improve your credit scores feel free to reach out to us any time. how to read a factual data credit report. Since 2004, CreditCards.com has worked to break down the barriers that stand between you and your perfect credit card. All of these can hurt your credit score because they show a pattern of serious delinquency. Other factors, such as our proprietary website's rules and the likelihood of applicants' credit approval also impact how and where products appear on the site. There are a few exceptions, like when youre comparison shopping for a mortgage. Mortgage Lending & Credit Reporting Resources | Factual Data Factual Data is a leading provider of merged credit reports, flood zone determinations, and data verification services to the mortgage lending industry. What are index funds and how do they work? It does require a hard credit inquiry. Experian and TransUnion include this information at the beginning of your credit report, while Equifax puts it at the end of its report. If you are a victim of human trafficking, you can block adverse information on your Factual Data credit report that is the result of illegal trafficking using this form. Factual Data Corp. (FDC) is a credit reporting agency employed by lenders to obtain potential borrowers' credit reports from Experian, Equifax and TransUnion. The AnnualCredit.Report.com site is integrated with the websites of the credit bureaus, making the transition from one to the other seamless. Everyone in the U.S. is allowed one free copy of their credit report per year from each of the three major credit reporting agencies. EDITORIAL DISCLOSURE All reviews are prepared by CreditCards.com staff. How much should you contribute to your 401(k)? Disclaimer: This story was originally published on October 28, 2020, on BetterCreditBlog.org. PITTSBURGH, October 19, 2022 -- ( BUSINESS WIRE )-- Factual Data , a leading provider of credit and verification services to the lending industry, today announced a new integration of its. Factual Data is a leading mortgage credit report provider in the United States. Risk Models One or more credit scores may appear here, along with reason codes. Pre-Qualification Soft Inquiry Report - Pre-qualify applicants with a 1, 2, or 3-bureau soft inquiry credit report Download Overview >>, Merged Credit Reports 1, 2, or 3 bureau credit report merged into a single easy-to-read report, Credit Supplements order from our secure platform or directly from the Factual Data credit report in many loan origination systems, CreditXpert Wayfinder and What-If Simulator - provide applicants with credit score forecasts and custom plans to reach their target scores, Undisclosed Debt Monitoring monitor loan files and receive alerts on new or changed borrower activity from application through closing Download Overview >>, Loan Quality Cross Check help reduce lenders risk by detecting the presence of undisclosed liabilities prior to closing Download Overview >>, Portfolio Servicing monitor your portfolio with proactive reviews of credit profiles to identify opportunities and potential issues before they happen, Account Retention Monitoring minimize attrition and build stronger customer relationships through daily notifications of competitive offers and customers actively seeking new credit, Customized Risk Mitigation Platform from DataVerify automate the underwriting process with a system based on criteria a human expert would follow in diagnosing a problem, IDVerify from DataVerify includes consumer identity verifications, fraud alerts, SSN issuance information, borrower watchlist checks and more, AppVerify from DataVerify Evaluate the risk associated with identity, occupancy, employment, income, and participants within a loan file, PropertyVerify from DataVerify comprehensive market and subject analysis including scoring results and conditions, market analysis, and comparable sales, 4506 IRS transcripts including the convenience of e-signature, Social Security Administration verification services (SSA-89), Flood Zone Determinations from DataVerify Flood Services quickly evaluate risk and stay compliant with fast and accurate flood zone determinations, Property Valuations (AVMs) verify property valuation and market risk, Human Trafficking Victim Credit Resources. This interactive guide will help you determine the most effective way to acquire your report and how to read and understand it once you receive it. Kroll Factual Data (also known as "Factual Data, Inc.") is an employment screening background check service based in Loveland, Colorado. They have helped thousands of consumers remove negative items from their credit reports and clean up their credit. If the consumer meets your criteria, you can feel confident moving forward with a traditional hard inquiry credit report. #2 FNMA #: Fannie Mae id. By . Factual Data has been serving the credit data needs of the mortgage lending community for decades. You don't need to know anything about credit scoring or spend time scouring credit reports Credit Assure gives you the answers. Optimize Your Lead Investment with Pre-Qualification Reports. This section lists the total number of accounts you have along with the balance. Your credit report is basically just a detailed record of your credit history and is used to determine your credit score as well as other financial decisions by lenders and other parties. If youve applied for a mortgage or another type of loan, your application could be responsible for Factual Datas hard inquiry. Consumers can breathe easy knowing the soft credit inquiry will not hurt their credit score. You can easily fill in your information online or dispute by mail or over the phone. Opinions expressed on this site are the author's alone, not those of a third-party entity, and have not been reviewed, approved, or otherwise endorsed. Date of birth: 04/1965Telephone number(s): 917-555-1212. Does a Credit Report Show the Full Picture? We are an independent, advertising-supported comparison service. Total Monthly Payments 4. Here are some strategies to help you start rectifying the issue: When a reporting error is to blame for a negative entry on your credit report, responding quickly is key. Those companies notify you when new entries emerge on your report and let you know when your score changes for any reason. See the online credit card applications for details about the terms and conditions of an offer. Keep an eye on your inboxwell be sending over your first message soon. Below is a closer look at the difference between soft and hard inquiries. Payment status is the current status of your adverse account. Revolving accounts are variable lines of credit with interest accrued based on the credit balance. Safescan Alerts A fraud prevention tool that compares consumer-provided information against a separate nationwide database. Box 1000Chester, PA 19022P (800) 888-4213, P.O. Therefore, this compensation may impact how, where and in what order products appear within listing categories, except where prohibited by law for our mortgage, home equity and other home lending products. Credit management The Benefits of Hiring a Credit Repair Service, How to Improve Your Credit Scores in 2023, How to Remove Late Payments from Credit Reports. Here you can download the consumer request form. Were transparent about how we are able to bring quality content, competitive rates, and useful tools to you by explaining how we make money. Check My Equifax and TransUnion Scores Now Youre legally protected from inaccurate reporting, and with a few simple steps, you can get FDC deleted from your report. You can also request your reports by calling 877-322-8228 or by downloading a request form and mailing it to: Annual Credit Report Request Service Check the dates of all inquiries listed as they should be removed after two years. As such, they may obtain one or all your credit reports in the screening process or a merged FDC credit report. The content on this page is accurate as of the posting date; however, some of our partner offers may have expired. What Does a Credit Report Listing a Grid Code G Mean? Parts of a Credit Report 1. Credit Overview 2. Credit Used 3. Box 4500, Allen, TX 75013.. Understanding your credit report helps you know where you stand so you can work on building your credit score. One credit report explanation could be outdated information, but incorrect account information can also be a red flag for identity fraud. How closing your oldest credit card affects your credit. Equifax's codes include: * = Current N = Current account/zero balance-no update tape received 0 = Current account/zero balance-reported on update tape 1 = 30 days past the due date 2 = 60 days past the due date 3 = 90 days past the due date 4 = 120 days past the due date 5 = 150 days past the due date 6 = 180 days past the due date 7 = Bankruptcy Chapter 13 (Petitioned, Discharged, Reaffirmation of Debt Rescinded) 8 = Derogatory, e.g. View the Trans Union Payment History section. so check back soon to access your free credit scores, full credit report and more. With a pre-approval letter in hand, consumers can have more confidence in the notion that an offer of credit will be extended, contingent upon meeting further credit evaluation requirements. This table defines the Fannie Mae credit report data file. Your credit cards journey is officially underway. How long does factual data stay on credit report? If a Factual Data hard inquiry is on your credit report, it's damaging your credit score (until it gets removed). Bankrate.com is an independent, advertising-supported publisher and comparison service. Therefore, data content represented within this report may not be consistent across all report sections. Your personal information will include your name (including former names and any aliases), your Social Security number, and birth date. These editors thoroughly edit and fact-check the content, ensuring that the information is accurate, authoritative and helpful to our audience. Lots 81-82 Street C However, its possible that an unfamiliar credit inquiry on your report could be the result of multiple potential lenders pulling your report after you apply for a loan or mortgage. So, if "1" is current, a "2" is 30 days late and a "3" is 60 days late. This usually happens when you apply for financing. Protect your lead investments by keeping consumers data out of the hands of the competition and establishing a relationship of trust with your consumers.