The Future of Medical Debt

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

Credit Advancements on Hold for Now

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

CFPB Issues Strong Rules Regarding Medical Collections

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

Are Credit Reports Still Important For The Elderly?

There comes a time in life when the hard work is done… you’ve paid off your home, cleared your auto loans, and are free of credit card debt. It’s a time to just time to sit back, reflect and enjoy. With no intention of taking on another mortgage, car loan or relying on credit cards, … Read more

Enterprise Credit Score and Credit Reports Initiative Update

A lot of questions have been circulating through the industry around the proposed changes to Credit Score Models that were announced by the Federal Housing Finance Agency (FHFA) in October 2022. In March, Fannie Mae created a “Partner Playbook” that covers a lot of detail regarding the upcoming changes. The Playbook was just revised in … Read more

Medical Debt Reporting Changes Coming

As the result of a report issued at the beginning of March 2022 by the Consumer Financial Protection Bureau (CFPB), starting in July 2022 there will be some major changes to credit reports. These changes will impact approximately 20% of consumers in a very positive way. Beginning July 1, 2022, all paid medical collections will … Read more

How Often Do Credit Scores Update?

How Often Do Credit Scores Update? By Mindy Leisure The question is often asked, “should I pull my borrower’s credit report after the first of the month to see the most updated credit scores?”  The assumption being that credit reports update during the first part of the month…actually this is far from accurate. Credit reports … Read more

Clarification on Upcoming Changes to Credit Reports

There have been a lot of questions cropping up surrounding the changes coming in June to credit reports. These changes are due to the settlement agreement from 2015 between the credit bureaus and state’s Attorney Generals. The last phase of this agreement is set to be in place as of June 8th, 2018. Due to … Read more

Why a Liens and Judgments Report is More Important than Ever

With the changes the credit bureaus (Experian, Trans Union and Equifax) have made first regarding judgments and now tax liens being removed from credit reports, it is important to have a backup to make sure none of these items actually exist. Just because they are no longer on credit reports does not mean a borrower … Read more