What is a Merged Credit Report?
When a person wants to get a copy of their credit report they would normally request it from Experian, Equifax, or TransUnion. These are the top three credit reporting agencies. The problem is that each of these three agencies will have slightly different information on them, which could be critical. For obvious reasons, it will always be more beneficial to order a merged credit report, where all of the information on each report is available. This way there are no surprises when you are applying for a mortgage, an auto loan, or just trying to clean up some of the smudges on your past. Your merged credit report is full of relevant information that includes a detailed history of your credit activities, information about where you have lived, worked, and borrowed money from, as well as information about who has reviewed your credit history. This information is used to calculate your Fair Isaac Corporation (FICO) score. This system is the best-known and most widely used credit score model
A merged credit report is formulated from credit reports obtained from more than one credit bureau. What is a mortgage? A mortgage is a binding financial agreement between two parties, the mortgagee and the mortgagor. This legal transaction is a loan from one party to the other, typically for a piece of real estate. Who is the mortgagee? The mortgagee refers to the lender in a mortgage agreement. What is a mortgage broker? A mortgage broker is the individual or company that originates a mortgage or loan between the borrower and lender. Who is the mortgagor? The mortgagor refers to the borrower in a mortgage agreement. What does negative amortization mean? Negative amortization occurs when a borrower pays less than the amount due on a loan or mortgage. As a direct result, the loan balance does not decrease as it would otherwise with proper payments. What is an origination fee? Origination fees are those that the lender charges the borrower for processing his loan application. What is ow
