On July 8th, FHFA Director Bill Pulte announced that Fannie Mae and Freddie Mac, the Government-Sponsored Enterprises (GSEs), are to commence using the Vantage 4.0 scoring model. He further stated that this change would be implemented “effective immediately.” While encouraging the GSEs to adopt the Vantage 4.0 scores may be beneficial, the abrupt timing of … Read more
In January 2025, the Consumer Financial Protection Bureau (CFPB) finalized a regulation to remove all medical debt, whether paid or unpaid, from credit reports. This measure was intended to benefit many consumers who are negatively impacted by medical debt collections appearing on their credit reports. Although the initiative faced considerable opposition from various industry sectors, … Read more
Evergreen, Colo. – June 17, 2025 – Advantage Credit, Inc., a leading provider of credit reporting and verification solutions for the mortgage industry, has announced a strategic partnership with Valligent, a national innovator in property valuation and collateral risk management, and its affiliate, Veros Real Estate Solutions (Veros). This collaboration significantly broadens Advantage Credit’s valuation … Read more
Many consumers find credit scores to be complicated and difficult to understand. Due to the numerous variations of different scoring models, it can be particularly challenging. When reviewing your credit scores, it is important to recognize whether you are viewing a FICO score or a VantageScore. Additionally, if you are looking at a FICO score, … Read more
The practice of purchasing tradelines involves adding a borrower as an authorized user on an existing credit account. Though this tactic is currently legal, it raises significant ethical and practical concerns. Typically, consumers pay a third party to be added to an established credit account—not to use the account, but to benefit from its positive … Read more
Maintaining a strong credit score is crucial, especially for individuals seeking a mortgage or considering refinancing. Discovering discrepancies on your credit report can be frustrating, often leading to a desire for a quick fix. However, attempting to resolve these issues hastily can sometimes lead to further complications—or even legal trouble. Understanding what to avoid is … Read more
Over the past year, several promising advancements were proposed for the credit industry, including the removal of medical debt from credit reports, adjustments to trigger leads (credit offers based on consumer inquiries), and the development of the FHFA Credit Score Initiative aimed at improving credit scoring fairness. However, these initiatives are currently on hold due … Read more
On January 7, 2025, the Consumer Financial Protection Bureau (CFPB) finalized a ruling to remove all medical debt from credit reports. This change means that both paid and unpaid medical collections will no longer be reported to credit bureaus. In 2023, it was announced that paid medical collections and outstanding medical debts under $500 would … Read more
So, you’re ready to buy your first home. You check your credit on your own, review your scores, and everything seems fine. While you don’t have much credit history, you have a few credit cards and a paid-off car loan. Confident, you tell your lender you’re set to go. But when the lender pulls your … Read more
Most consumers are now familiar with Buy Now, Pay Later (BNPL) or have at least heard of it. Similar to a Layaway plan, BNPL allows you to receive your items upfront and pay for them over time, rather than paying in full before receiving the items. Unlike Layaway, which typically involves longer payment periods, BNPL … Read more