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Automated Approvals & Manually Underwritten Loans....... What is the difference?

Established Contributor

Re: Automated Approvals & Manually Underwritten Loans....... What is the difference?

A thin file is a low number of accounts reporting on your credit. A seasoned file can only be changed with time as that refers to how old your accounts are. 

FICO8 Scores - 625TU / 640EQ / 649EX
On Mortgage Journey
Starting Mortgage Scores (Feb 17) 523EQ / 547TU / 564EX
Mortgage Scores Aug 17 624EQ / 649TU / 650 EX
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Contributor

Re: Automated Approvals & Manually Underwritten Loans....... What is the difference?

So obviously, my 2 credit cards and installment loan, will look much better after 12 months vs what they are now. But anything over 12 will be what lenders will want?

Should I add another credit card? Or a longer loan? (mine is done after 12 months)

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