02-09-2017 10:24 AM
Hi, I'm a mortgage underwriter and we just received this update from CoreLogic, one of our credit report providers, about changes made by EQ, EX & TU.
(Copied & pasted below)
Public Record Update Notice
Mortgage Credit Solutions
Public Record Changes in Credit Reports
The three national credit bureaus (Equifax, Experian and TransUnion) have informed us that they will be implementing changes to their collection of Public Record data. These changes stem from their concern that some of this data does not meet minimum data quality standards.
New requirements include:
These changes may impact the public record information that you receive on the credit reporting products you order from CoreLogic. We expect these bureau changes to go into effect no later than July 1, 2017.
While we cannot yet provide final details regarding exactly which public records will be impacted, the bureaus’ preliminary analysis reveals the following:
We will keep you informed of any new developments on this initiative as we receive new information from the bureaus. In the meantime, we suggest that your organization consider a general exercise in determining what impacts that the loss of tax lien and civil judgment data on consumer credit reports will have on your processes, if any.
03-12-2017 08:56 PM
03-13-2017 08:35 AM
The following link may be more accessible to you.
03-13-2017 09:26 AM
So it appears that by July 1st, the CRA will remove any Public Record, Judgements, and Liens, that do not have all the required information. It does not mean that they are deleting all information or changing the reporting of those items, other then having the required infomormation.
Another thing, is that Data Miners could go back in try to retrieve the missing information and if sucessful the information can be reinserted back on your credit report.
03-13-2017 05:58 PM
I saw an article about this today...and I hope it comes to pass.
DW and I HAD no negative information on any of our CR's... until some one at the state forgot to push the "payment plan" button. They accepted our payments, but filed a state tax lien because we didn't have a payment arrangement in their system.
It has since been paid, but I'm hoping that it will no longer show on our credit reports...
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