Credit Card Center Advertiser Disclosure†
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...
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.