Experian Boost™ vs. UltraFICO™

Experian Boost™ and UltraFICO™ are two products offered by Experian® to help boost a borrower’s credit score. Please be aware that these products are only available with Experian so utilizing them will have no impact on a consumer’s TransUnion® or Equifax® scores. Experian Boost allows a consumer to add payment history from accounts that do … Read more

Fannie Mae to Include Rental History

Fannie Mae announced last week that beginning September 18, 2021, they are going to start including rental payments in their credit evaluation process. This will be a new feature added to their Desktop Underwriter (DU). The information will be taken from the consumer’s bank statements and input into their system and it will recognize all … Read more

Trended Credit Data Implementation is Drawing Near

You may recall Fannie Mae’s October 2015 announcement regarding their planned use of trended credit data beginning in 2016: Fannie Announcement on Trended Data. Although implementation information from Fannie Mae has been scarce since this initial announcement, Advantage Credit has recently received updates from the two national credit bureaus, Equifax and Transunion, who are participating … Read more

Fannie and Freddie May be Forced to Make Some Changes in the New Year!

The Federal Housing Finance Agency (FHFA), the agency that oversees mortgage investors Fannie Mae and Freddie Mac, have ordered the companies to make plans to utilize alternate and/or updated scoring models in 2016 and to move forward in implementing them. This change would have a major impact on credit reports once they are implemented. Right … Read more

Fannie Mae Announces New Trended Credit Data Requirement

Evergreen, Colo., October 29, 2015 – Fannie Mae recently announced that they will require credit data used with Desktop Underwriter to include trended data beginning in 2016. The data provided by Equifax and TransUnion, will allow a better and more thorough analysis of the borrower’s credit history. Advantage Credit, Inc. is gearing up for this … Read more

Update on Short Sale Fix

Evergreen, Colo., May 8, 2014 – Serving as an update to the Advantage Credit, Inc. press release dated August 27, 2013 in which a fix was announced to how short sales were conveyed on credit reports, that announced fix has apparently failed. The Desktop Underwriter® (DU®) mechanism which is supposed to give lenders the ability … Read more

Undisclosed Debt Notification is Now Available From all Three Bureaus

Evergreen, Colo., April 24, 2014 – Advantage Credit is excited to announce that they can now offer their Undisclosed Debt Notification (UDN) service from all three credit bureaus. This service is designed to monitor a borrower’s credit profile throughout the entire closing process helping to ensure a smooth closing. Fannie Mae has updated the policy … Read more

Short Sale Fix Announced

Evergreen, Colo., August 27, 2013 –  Fannie Mae and Senator Bill Nelson (D) of Florida recently announced a fix to an issue with how short sales are conveyed on credit reports. Fannie Mae, according to its August 22, 2013 Desktop Originator/Desktop Underwriter Release Notes, has provided a mechanism allowing lenders to override incorrect foreclosure tradeline … Read more