How would a mortgage broker feel, knowing that a major derogatory item, like a bankruptcy, foreclosure, etc., has been removed from a credit file, just because it could be, and yet not disclosed to the lender?
A. Whenever we are asked, our answer to our customers is that they must disclose everything. Remember, when our customers complete our service, they are able to provide a more accurate credit profile, not an incomplete profile. Keep in mind that the FCRA was originally conceived, written, and ultimately signed into law for a reason: to provide consumers rights under the law, to protect them from inaccurate, erroneous, and obsolete information provided by credit reporting agencies. It is our goal to have the credit reporting agencies provide the most accurate credit profile of a consumer applying for credit, to enable lenders to make the best decisions, and that is the service we provide to our customers. There seems to be a “myth” about our credit repair services – that we are trying to “hide” derogatory items for customers, or artificially make someone’s credit report look better. All we do is work with the credit reporting agencies to abide by the law. If every credit reporting agenc
