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Public Record Changes in Credit Reports

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Shann0n_marie
Frequent Contributor

Public Record Changes in Credit Reports

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
Important notification

 

  Public Record Changes in Credit Reports

  WHAT’S NEW
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:

  • Require all public records obtained from the original source locations to contain minimum identifying information(PII), Name, address, SSN and/or date of birth
  • Require all public records to be collected and updated at more frequent intervals


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:

  • They anticipate significant changes to civil judgment public record data: their preliminary analysis shows that approximately 96% of this data may not meet the enhanced PII requirements.
  • They anticipate significant changes to tax lien public record data: their preliminary analysis shows that as much as 50% of this data may not meet the enhanced PII requirements.
  • There will be no impact to Bankruptcy data.


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.

2/8/19 - CH 7 BK filed
5/15/19 -Discharged
Scores at Discharge: 550 EQ 471 TU 509 EXP (Last Updated 5/11)
5/16/19 - Rebuild Started - App'ed for Credit One - Approved for $2,000 starting line! (Increased to $2200 the following month)
6/7/19 - 606 EQ 544 TU 566 EXP - New CC reported w/ $75 Balance
12/10/19 - 616 EQ 581 TU 592 EXP

8/28/2021 - 698 EQ 670 TU 674EXP
Message 1 of 262
261 REPLIES 261
pizza1
Community Leader
Super Contributor

Re: Public Record Changes in Credit Reports

interesting!! Thank you for posting..
Message 2 of 262
sjt
Senior Contributor

Re: Public Record Changes in Credit Reports

Thanks for the information!

 

I wonder if there will be more delations of PR in the future.

 

American Express: Platinum Charge, Optima, Business Gold, Delta Business Reserve, Business Cash, Business Plus
Barclays: Arrival+ WEMC
Capital One: Savor WEMC, Venture X Visa Infinite
Chase: Freedom U Visa Signature, CSR Visa Infinite
Citibank: AAdvantage Platinum WEMC
Elan/US Bank: Fidelity Visa Signature
Credit Union: Cash Back Visa Signature
FICO 08: Score decrease between 26-41 points after auto payoff (11.01.21) FICO as of 5.23, EX: 812 / EQ: 825 / TU: 815
Message 3 of 262
Anonymous
Not applicable

Re: Public Record Changes in Credit Reports

Great information to know.  Thanks for the post!   

 

 

Message 4 of 262
creditguy
Valued Contributor

Re: Public Record Changes in Credit Reports

Here's an article from the Wall Street Journal that speaks to this.

https://www.wsj.com/articles/credit-reports-to-exclude-certain-negative-information-boosting-fico-sc...
Message 5 of 262
vanillabean
Valued Contributor

Re: Public Record Changes in Credit Reports

Message 6 of 262
sjt
Senior Contributor

Re: Public Record Changes in Credit Reports

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.

 

 

American Express: Platinum Charge, Optima, Business Gold, Delta Business Reserve, Business Cash, Business Plus
Barclays: Arrival+ WEMC
Capital One: Savor WEMC, Venture X Visa Infinite
Chase: Freedom U Visa Signature, CSR Visa Infinite
Citibank: AAdvantage Platinum WEMC
Elan/US Bank: Fidelity Visa Signature
Credit Union: Cash Back Visa Signature
FICO 08: Score decrease between 26-41 points after auto payoff (11.01.21) FICO as of 5.23, EX: 812 / EQ: 825 / TU: 815
Message 7 of 262
tcbofade
Super Contributor

Re: Public Record Changes in Credit Reports

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...

07/01/24 Fico 8: EX 766, EQ 811, TU 787.
Fico 9: EX 772 07/14/24, EQ 789 07/04/24, TU No idea.

Zero percent financing is where the devil lives...
Message 8 of 262
Anonymous
Not applicable

Re: Public Record Changes in Credit Reports

EX has removed my tax liens but EQ and TU haven't bugged at all. Hopefully after 7/1 they'll remove them!
Message 9 of 262
ohnomyfigo
Contributor

Re: Public Record Changes in Credit Reports

Was your lien removed recently?

Message 10 of 262
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