@Anonymous wrote:I have been asked a couple of times about this scenario- and I dont have an accurate answer.
So, rather than pass on innacurate information- I thought I would get it clarified here.
The question is:
"My Credit Report looks good today, but 4 months ago it had collections, a tax lien, and other baddies on it. When I apply for a mortgage, can they only see the current report or can they also see historical data i.e. Report versions as they would have looked in the past?"
Instant in time only for mortgages.
What banks do for their CC practices based on historical customer data, hard to say; however, outside of the portfolio lenders and jumbo space, there's pretty much zero upside to their even trying to do something in this regard. Industry just isn't setup that way, the score is the score, the report is the report for that part of the equation.
