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TRW Score: [00631] Reason1=[022] Reason2=[016] Reason3=[028] Reason4=[032] EQUIFAX: [00619] Reason1=[022] Reason2=[016] Reason3=[028] Reason4=[032] Remember, if you feel there's an error in your credit report, contact the credit bureaus and dispute the information and inform your mortgage broker or lender as well. It's also wise to obtain a copy of your credit report every year to make sure the information is correct and up to date.
***** BORROWER: DOE, JOHN M. *****
TU Score: [00627] Reason1=[022] Reason2=[016] Reason3=[028] Reason4=[004]
Reason
TRW
TU
EQUIFAX
Amount owed on accounts is too high
1
1
1
Delinquency on accounts
2
2
2
Too few bank revolving accounts
3
N/A
3
Too many bank of national revolving accounts
4
N/A
4
Too many accounts with balances
5
5
5
Consumer finance accounts
6
6
6
Account payment history too new to rate
7
7
7
Too many recent inquiries last 12 months
8
8
8
Too many accounts opened in last 12 months
9
9
9
Proportion of balances to credit limits is too high
10
10
10
Amount owed on revolving accounts is too high
11
11
11
Length of revolving credit history is too short
12
12
12
Time since delinquent is too recent or unknown
13
13
13
Length of credit history is too short
14
14
14
Lack of recent bank revolving information
15
15
15
Lack of recent revolving account information
16
16
16
No recent non-mortgage balance information
17
17
17
Number of accounts with delinquency
18
18
18
Too few accounts currently paid as agreed
19
27
19
Time since derogatory public record or collection
20
20
20
Amount past due on accounts
21
21
21
Serious delinquency., derogatory public record or collection
22
22
22
Too many bank or national revolving accts. with balances
N/A
N/A
23
No recent revolving balances
24
24
24
Proportion of loan balances to loan amounts is too high
33
3
33
Lack of recent installment loan information
32
4
32
Date of last inquiry too recent
N/A
19
N/A
Time since last account opening too short
30
30
30
Number of revolving accounts
26
N/A
26
Number of bank revolving or revolving accounts
N/A
26
N/A
Number of established accounts
28
28
28
No recent bankcard balances
N/A
29
N/A
Too few accounts with recent payment information
31
N/A
31
y cross-referencing the numbers shown on the credit report with the items in the table, we can see what caused John Doe's score to go down. Be sure and ask your mortgage broker or lender what your score is and what "reasons" are listed. With this information you can perform your own credit repair without paying some consultant to tell you the same thing!
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