The CARES Act Section 4021 of the Coronavirus Aid, Relief, and Economic Security (CARES) Act, signed into law on March 27, 2020, amended the Fair Credit Reporting Act The “covered period” is either period beginning on January 1, 2020, and ending on the later of (i) 120 days after the enactment of the CARES Act or (ii) 120 days after the termination of the national emergency declared on March 13, 2020. Under the new subsection, [I]f a furnisher makes an accommodation with respect to 1 or more payments on a credit obligation or account of a consumer, and the consumer makes the payments or is not required to make 1 or more payments pursuant to the accommodation, the furnisher shall— (I) report the credit obligation or account as current; or (II) if the credit obligation or account was delinquent before the accommodation— (aa) maintain the delinquent status during the period in which the accommodation is in effect; and (bb) if the consumer brings the credit obligation or account current during the period described in (aa), report the credit obligation or account as current. While the language of the CARES Act fails to specify, it would be wise for furnishers to assume that the new subsection applies retroactively and implement these changes to any account for which accommodation was made on or after January 31, 2020. Note, however, that these changes do not apply to charged-off accounts.

How "The Cares Act" Changed Credit Reporting FOREVER?

Experian Boost® Score Today we’re going to take an in-depth look at Experian Boost score, One of the problems that FICO® has had in the past with other versions of a new FICO® score was trying to score people with a thin repository file. FICO® was trying to create a reliable scoring model that used fewer data inputs. The Experian Boost® score is the first-time additional data has been used from a financial intuition to supplement the repository file. They’re connecting bank payment history into this repository file, looking for consistent payments to creditors. Experian Boost® will be included in FICO 8 and FICO 9 credit scores FICO® has tried this in the past, they called it XP, they called it new FICO®, many times over the years they’ve tried to create a FICO® score using less information and it never worked. What’s different about this is that they are getting more information from financial institutions. What Experian Boost® is looking for is a series of payments to a creditor like a utility company or a cell phone provider, something that the consumer has set up to automatically pay or to pay through a bank account. Experian Boost® is linking consumer accounts much like an online mortgage application or TurboTax, they’re interfacing with the consumer’s financial institutions. Creating a credit history based on past payments that the consumers have made and adding it to the Experian repository file. I had made some payments out of my Bank of America account and when Experian Boost® reviewed that information. it gave me a few more points now this is not designed for somebody with a long credit history is really designed for somebody with a thin credit history somebody who does not have a lot of credit. The drawbacks from a lending perspective is that Experian Boost® will not look at derogatory information. It looks at payment history in consumer’s bank accounts. In my specific situation, it found a few payments out of one of my accounts and added it to my repository file. My DTE account added to my Experian® Boost score; 19 payments, a utility, average payment amount, then it calculates my score new score. In this situation, my score happened to go up, a few points from the boost. Experian Boost® will improve both FICO 8 and FICO 9 scores if your financial institution uses one of those scoring models then it could help you get a better rate on some financing. If a consumer is planning to apply for a mortgage Fannie and Freddie do not accept any other credit score other than FICO5 score. The Experian Boost® score will not impact a consumer’s mortgage credit score. Right now, Fannie and Freddie still require FICO5 I’ll be at the Building Community Conference in Lansing speaking about all the latest developments in credit scoring.

Experian Boost® Score Today we’re going to take an in-depth look at Experian Boost score, One of the problems that FICO® has had in the past with other versions of a new FICO® score was trying to score people with a thin repository file. FICO® was trying to create a reliable scoring model that used fewer data inputs. The Experian Boost® score is the first-time additional data has been used from a financial intuition to supplement the repository file. They’re connecting bank payment history into this repository file, looking for consistent payments to creditors. Experian Boost® will be included in FICO 8 and FICO 9 credit scores FICO® has tried this in the past, they called it XP, they called it new FICO®, many times over the years they’ve tried to create a FICO® score using less information and it never worked. What’s different about this is that they are getting more information from financial institutions. What Experian Boost® is looking for is a series of payments to a creditor like a utility company or a cell phone provider, something that the consumer has set up to automatically pay or to pay through a bank account. Experian Boost® is linking consumer accounts much like an online mortgage application or TurboTax, they’re interfacing with the consumer’s financial institutions. Creating a credit history based on past payments that the consumers have made and adding it to the Experian repository file. I had made some payments out of my Bank of America account and when Experian Boost® reviewed that information. it gave me a few more points now this is not designed for somebody with a long credit history is really designed for somebody with a thin credit history somebody who does not have a lot of credit. The drawbacks from a lending perspective is that Experian Boost® will not look at derogatory information. It looks at payment history in consumer’s bank accounts. In my specific situation, it found a few payments out of one of my accounts and added it to my repository file. My DTE account added to my Experian® Boost score; 19 payments, a utility, average payment amount, then it calculates my score new score. In this situation, my score happened to go up, a few points from the boost. Experian Boost® will improve both FICO 8 and FICO 9 scores if your financial institution uses one of those scoring models then it could help you get a better rate on some financing. If a consumer is planning to apply for a mortgage Fannie and Freddie do not accept any other credit score other than FICO5 score. The Experian Boost® score will not impact a consumer’s mortgage credit score. Right now, Fannie and Freddie still require FICO5 I’ll be at the Building Community Conference in Lansing speaking about all the latest developments in credit scoring.

The Problem with Experian Boost® no one is talking about #credit  #creditscoring

Subscribe http://www.youtube.com/subscription_c... For more free information on credit and credit scoring check out my blog at  http://www.thecreditguy.tv Join me on LinkedIn at  http://www.linkedin.com/in/thecreditg... Follow me on Twitter at  http://www.twitter.com/TheCreditGuyTV Like the Facebook Page  http://www.facebook.com/TheCreditGuy Follow my Pinterest board  http://www.pinterest.com/thecreditguy All Material included in the presentation, class, video or website is protected under copy write law and the property of Hammer it Out LLC. No portion may be used without express written consent. This class, video, the website contains ideas and opinions of its author. It is designed to provide knowledge in an accurate way with regard to the subject matter covered. It is to be consumed with the understanding that the author, publisher, or any affiliates are not engaged in rendering legal advice. If legal advice is required, the services of a lawyer should be sought. Although every precaution has been taken in the preparation of this information, the publisher, author, and affiliate assume no responsibility for errors or omissions. No patent liability is assumed with respect to the use of the information contained herein. The author, publisher, and affiliate specifically disclaim any responsibility for any liability, loss, or risk. Personal or otherwise; which in incurred in consequence, directly or indirectly, or in the use and application of any of the contents of this book, class, video or website

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Did We Change the Credit Industry?

Subscribe http://www.youtube.com/subscription_center?add_user=sullythecreditguy  For more free information on credit and credit scoring check out my blog at http://www.thecreditguy.tv Join me on LinkedIn at http://www.linkedin.com/in/thecreditguytv Follow me on Twitter at http://www.twitter.com/TheCreditGuyTV Like the Facebook Page http://www.facebook.com/TheCreditGuy Follow my Pinterest board http://www.pinterest.com/thecreditguy All Material included in the presentation, class, video or website is protected under copy write law and the property of Hammer it Out LLC. No portion may be used without express written consent. This class, video, the website contains ideas and opinions of its author. It is designed to provide knowledge in an accurate way with regard to the subject matter covered. It is to be consumed with the understanding that the author, publisher, or any affiliates are not engaged in rendering legal advice. If legal advice is required, the services of a lawyer should be sought. Although every precaution has been taken in the preparation of this information, the publisher, author, and affiliate assume no responsibility for errors or omissions. No patent liability is assumed with respect to the use of the information contained herein. The author, publisher, and affiliate specifically disclaim any responsibility for any liability, loss, or risk. Personal or otherwise; which in incurred in consequence, directly or indirectly, or in the use and application of any of the contents of this book, class, video or website

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Credit Score Dropped for No Reason?

4 ways to get your offer accepted

Fannie Mae

Subscribe <a href="http://www.youtube.com/subscription_center?add_user=sullythecreditguy" rel="nofollow" target="_blank">http://www.youtube.com/subscription_c...</a> For more free information on credit and credit scoring check out my blog at <a href="https://www.youtube.com/redirect?redir_token=PA4KV67M-ZLkc0OGSzxA6JgSv_F8MTUyNDQ4NzIzOUAxNTI0NDAwODM5&amp;q=http%3A%2F%2Fwww.thecreditguy.tv&amp;v=ziwS0JLyJwM&amp;event=video_description" rel="nofollow" target="_blank"> http://www.thecreditguy.tv</a> Join me on LinkedIn at <a href="https://www.youtube.com/redirect?redir_token=PA4KV67M-ZLkc0OGSzxA6JgSv_F8MTUyNDQ4NzIzOUAxNTI0NDAwODM5&amp;q=http%3A%2F%2Fwww.linkedin.com%2Fin%2Fthecreditguytv&amp;v=ziwS0JLyJwM&amp;event=video_description" rel="nofollow" target="_blank"> http://www.linkedin.com/in/thecreditg...</a> Follow me on Twitter at <a href="https://www.youtube.com/redirect?redir_token=PA4KV67M-ZLkc0OGSzxA6JgSv_F8MTUyNDQ4NzIzOUAxNTI0NDAwODM5&amp;q=http%3A%2F%2Fwww.twitter.com%2FTheCreditGuyTV&amp;v=ziwS0JLyJwM&amp;event=video_description" rel="nofollow" target="_blank"> http://www.twitter.com/TheCreditGuyTV</a> Like the Facebook Page <a href="https://www.youtube.com/redirect?redir_token=PA4KV67M-ZLkc0OGSzxA6JgSv_F8MTUyNDQ4NzIzOUAxNTI0NDAwODM5&amp;q=http%3A%2F%2Fwww.facebook.com%2FTheCreditGuy&amp;v=ziwS0JLyJwM&amp;event=video_description" rel="nofollow" target="_blank"> http://www.facebook.com/TheCreditGuy</a> Follow my Pinterest board <a href="https://www.youtube.com/redirect?redir_token=PA4KV67M-ZLkc0OGSzxA6JgSv_F8MTUyNDQ4NzIzOUAxNTI0NDAwODM5&amp;q=http%3A%2F%2Fwww.pinterest.com%2Fthecreditguy&amp;v=ziwS0JLyJwM&amp;event=video_description" rel="nofollow" target="_blank"> http://www.pinterest.com/thecreditguy</a> All Material included in the presentation, class, video or website is protected under copy write law and the property of Hammer it Out LLC. No portion may be used without express written consent. This class, video, the website contains ideas and opinions of its author. It is designed to provide knowledge in an accurate way with regard to the subject matter covered. It is to be consumed with the understanding that the author, publisher, or any affiliates are not engaged in rendering legal advice. If legal advice is required, the services of a lawyer should be sought. Although every precaution has been taken in the preparation of this information, the publisher, author, and affiliate assume no responsibility for errors or omissions. No patent liability is assumed with respect to the use of the information contained herein. The author, publisher, and affiliate specifically disclaim any responsibility for any liability, loss, or risk. Personal or otherwise; which in incurred in consequence, directly or indirectly, or in the use and application of any of the contents of this book, class, video or website

Trended Credit Data Fannie Mae Update

Transform Your Credit https://www.amazon.com/Transform-Your-Credit-Financial-Freedom-ebook/dp/B078VV42ZD TU Announcement https://portal.mybig.net/documents/Public%20Records_TransUnion%20Customer%20Announcement_3%2019%20183.pdf Subscribe http://www.youtube.com/subscription_center?add_user=sullythecreditguy  For more free information on credit and credit scoring check out my blog at http://www.thecreditguy.tv Join me on LinkedIn at http://www.linkedin.com/in/thecreditguytv Follow me on Twitter at http://www.twitter.com/TheCreditGuyTV Like the Facebook Page http://www.facebook.com/TheCreditGuy Follow my Pinterest board http://www.pinterest.com/thecreditguy All Material included in the presentation, class, video or website is protected under copy write law and the property of Hammer it Out LLC. No portion may be used without express written consent. This class, video, the website contains ideas and opinions of its author. It is designed to provide knowledge in an accurate way with regard to the subject matter covered. It is to be consumed with the understanding that the author, publisher, or any affiliates are not engaged in rendering legal advice. If legal advice is required, the services of a lawyer should be sought. Although every precaution has been taken in the preparation of this information, the publisher, author, and affiliate assume no responsibility for errors or omissions. No patent liability is assumed with respect to the use of the information contained herein. The author, publisher, and affiliate specifically disclaim any responsibility for any liability, loss, or risk. Personal or otherwise; which in incurred in consequence, directly or indirectly, or in the use and application of any of the contents of this book, class, video or website

Transform Your Credit <a href="https://www.amazon.com/Transform-Your-Credit-Financial-Freedom-ebook/dp/B078VV42ZD" rel="nofollow" target="_blank">https://www.amazon.com/Transform-Your-Credit-Financial-Freedom-ebook/dp/B078VV42ZD</a> TU Announcement <a href="https://portal.mybig.net/documents/Public%20Records_TransUnion%20Customer%20Announcement_3%2019%20183.pdf" rel="nofollow" target="_blank">https://portal.mybig.net/documents/Public%20Records_TransUnion%20Customer%20Announcement_3%2019%20183.pdf</a> Subscribe <a href="http://www.youtube.com/subscription_center?add_user=sullythecreditguy" rel="nofollow" target="_blank">http://www.youtube.com/subscription_center?add_user=sullythecreditguy</a> For more free information on credit and credit scoring check out my blog at <a href="http://www.thecreditguy.tv" rel="nofollow" target="_blank">http://www.thecreditguy.tv</a> Join me on LinkedIn at <a href="http://www.linkedin.com/in/thecreditguytv" rel="nofollow" target="_blank">http://www.linkedin.com/in/thecreditguytv</a> Follow me on Twitter at <a href="http://www.twitter.com/TheCreditGuyTV" rel="nofollow" target="_blank">http://www.twitter.com/TheCreditGuyTV</a> Like the Facebook Page <a href="http://www.facebook.com/TheCreditGuy" rel="nofollow" target="_blank">http://www.facebook.com/TheCreditGuy</a> Follow my Pinterest board <a href="http://www.pinterest.com/thecreditguy" rel="nofollow" target="_blank">http://www.pinterest.com/thecreditguy</a> All Material included in the presentation, class, video or website is protected under copy write law and the property of Hammer it Out LLC. No portion may be used without express written consent. This class, video, the website contains ideas and opinions of its author. It is designed to provide knowledge in an accurate way with regard to the subject matter covered. It is to be consumed with the understanding that the author, publisher, or any affiliates are not engaged in rendering legal advice. If legal advice is required, the services of a lawyer should be sought. Although every precaution has been taken in the preparation of this information, the publisher, author, and affiliate assume no responsibility for errors or omissions. No patent liability is assumed with respect to the use of the information contained herein. The author, publisher, and affiliate specifically disclaim any responsibility for any liability, loss, or risk. Personal or otherwise; which in incurred in consequence, directly or indirectly, or in the use and application of any of the contents of this book, class, video or website

April 16th 2018  TransUnion Stops Reporting Tax Liens

Your Credit Score could cost you 5K a year in extra insurance costs Nerd wallet story http://www.thedrive.com/news/19819/states-where-poor-credit-has-the-biggest-impact-on-car-insurance-rates Subscribe http://www.youtube.com/subscription_center?add_user=sullythecreditguy  For more free information on credit and credit scoring check out my blog at http://www.thecreditguy.tv Join me on LinkedIn at http://www.linkedin.com/in/thecreditguytv Follow me on Twitter at http://www.twitter.com/TheCreditGuyTV Like the Facebook Page http://www.facebook.com/TheCreditGuy Follow my Pinterest board http://www.pinterest.com/thecreditguy All Material included in the presentation, class, video or website is protected under copy write law and the property of Hammer it Out LLC. No portion may be used without express written consent. This class, video, the website contains ideas and opinions of its author. It is designed to provide knowledge in an accurate way with regard to the subject matter covered. It is to be consumed with the understanding that the author, publisher, or any affiliates are not engaged in rendering legal advice. If legal advice is required, the services of a lawyer should be sought. Although every precaution has been taken in the preparation of this information, the publisher, author, and affiliate assume no responsibility for errors or omissions. No patent liability is assumed with respect to the use of the information contained herein. The author, publisher, and affiliate specifically disclaim any responsibility for any liability, loss, or risk. Personal or otherwise; which in incurred in consequence, directly or indirectly, or in the use and application of any of the contents of this book, class, video or website

Your Credit Score could cost you 5K a year in extra insurance costs Nerd wallet story <a href="http://www.thedrive.com/news/19819/states-where-poor-credit-has-the-biggest-impact-on-car-insurance-rates" rel="nofollow" target="_blank">http://www.thedrive.com/news/19819/states-where-poor-credit-has-the-biggest-impact-on-car-insurance-rates</a> Subscribe <a href="http://www.youtube.com/subscription_center?add_user=sullythecreditguy" rel="nofollow" target="_blank">http://www.youtube.com/subscription_center?add_user=sullythecreditguy</a> For more free information on credit and credit scoring check out my blog at <a href="http://www.thecreditguy.tv" rel="nofollow" target="_blank">http://www.thecreditguy.tv</a> Join me on LinkedIn at <a href="http://www.linkedin.com/in/thecreditguytv" rel="nofollow" target="_blank">http://www.linkedin.com/in/thecreditguytv</a> Follow me on Twitter at <a href="http://www.twitter.com/TheCreditGuyTV" rel="nofollow" target="_blank">http://www.twitter.com/TheCreditGuyTV</a> Like the Facebook Page <a href="http://www.facebook.com/TheCreditGuy" rel="nofollow" target="_blank">http://www.facebook.com/TheCreditGuy</a> Follow my Pinterest board <a href="http://www.pinterest.com/thecreditguy" rel="nofollow" target="_blank">http://www.pinterest.com/thecreditguy</a> All Material included in the presentation, class, video or website is protected under copy write law and the property of Hammer it Out LLC. No portion may be used without express written consent. This class, video, the website contains ideas and opinions of its author. It is designed to provide knowledge in an accurate way with regard to the subject matter covered. It is to be consumed with the understanding that the author, publisher, or any affiliates are not engaged in rendering legal advice. If legal advice is required, the services of a lawyer should be sought. Although every precaution has been taken in the preparation of this information, the publisher, author, and affiliate assume no responsibility for errors or omissions. No patent liability is assumed with respect to the use of the information contained herein. The author, publisher, and affiliate specifically disclaim any responsibility for any liability, loss, or risk. Personal or otherwise; which in incurred in consequence, directly or indirectly, or in the use and application of any of the contents of this book, class, video or website

Your Credit Score could cost you 5K a year in extra insurance costs

 https://www.amazon.com/Transform-Your-Credit-Financial-Freedom-ebook/dp/B078VV42ZD

<a href="https://www.amazon.com/Transform-Your-Credit-Financial-Freedom-ebook/dp/B078VV42ZD" rel="nofollow" target="_blank">https://www.amazon.com/Transform-Your-Credit-Financial-Freedom-ebook/dp/B078VV42ZD</a>

Transform your Credit 

How to handle collections with FICO®5 vs FICO®9

This podcast is my attempt to END the credit repair industry. Since 1991 I have been providing credit reports to the lending community.  I have always felt that the credit repair industry has taken advantage of people. If you want to fix your own credit it is not that hard, you just have to know what to do. Dave Sullivan graduated from Western Michigan University in 1989 with a bachelor’s degree in Finance. He started in the mortgage industry as a loan officer in 1991. Less than one year later started selling credit reports to Mortgage Companies, Banks and Credit Unions.On September 19, 1997, he started AIR Credit Midwest out of his car. Over the next two years, Air Credit Midwest grew to a multi-million dollar company. In 2000 he was approached by one of the largest Credit Reporting Bureau’s in the nation to purchase AIR Credit Midwest. He sold it and worked for that company as Sales Manager of the Michigan and Ohio market for the next ten years. During his career in the credit industry, he has personally reviewed thousands of credit reports and credit scores.

This podcast is my attempt to END the credit repair industry. Since 1991 I have been providing credit reports to the lending community. I have always felt that the credit repair industry has taken advantage of people. If you want to fix your own credit it is not that hard, you just have to know what to do. Dave Sullivan graduated from Western Michigan University in 1989 with a bachelor’s degree in Finance. He started in the mortgage industry as a loan officer in 1991. Less than one year later started selling credit reports to Mortgage Companies, Banks and Credit Unions. On September 19, 1997, he started AIR Credit Midwest out of his car. Over the next two years, Air Credit Midwest grew to a multi-million dollar company. In 2000 he was approached by one of the largest Credit Reporting Bureau’s in the nation to purchase AIR Credit Midwest. He sold it and worked for that company as Sales Manager of the Michigan and Ohio market for the next ten years. During his career in the credit industry, he has personally reviewed thousands of credit reports and credit scores.

TheCreditGuyTV Podcast

Charles Green Interview

Charles Green

Commercial Lender Training provided by the Small Business Finance Institute with Founder Charles Green Interview.Hi everybody Dave Sullivan here for the Credit Guy TV with special guest... Charles Green of the Small Business Finances Institute Dave: Charles thanks for reaching out to me on LinkedIn, I have really enjoyed our relationship. You have found a niche, something that the commercial banking industry needs. Tell me a little bit more about that. Charles: Dave, I have been a career banker since the late seventies, when I joined the industry, I was given about eight weeks of training in my first two years of employment. I was really not worth much to the company that hired me, but after the S&amp;L crisis internal training programs for most banks sort of went away and it's never really come back, although there have been some really good times since. I started a training operation to create content to train commercial lenders the fundamental skills needed to evaluate, fund and close commercial loans across all different product types.  We plan to deliver this through streaming video across the nation. Dave: Training is so important and has been overlooked in the commercial space. The mortgage lender has really been trained to death today and commercial lending is ignored completely.  There is a real need for this don't you agree? Charles: I do, mortgage brokers are licensed and that gives them particularly standards that they have to adhere to.  They can be evaluated in a simpler way against those standards.  In commercial lending, you have a diversity of product lines you've got regulated banks and non-regulated finance companies that provide different financing products.  It can be a big sea of people floating around with different kinds of experience with products to offer, that just sort of gets lost to them in the fray and customers suffer consequences, because commercial customers don't always know who can help them and the person that they find might not know where to send them if they can't deal with the situation. Dave: Many times commercial loan officers are really thrust into that position with little or no training. I think this product is very important and I flew down to Atlanta to meet with you to record a session on business credit.  I was very impresses with the professionalism of the organization you have down there, talk a little bit about the teachers that you found for the program as well as your background.                Charles: I have been away from active banking for almost five years, so I had adopted the job title of "Recovering Banker". I still retained quite a bit of this knowledge from my thirty five year career. I have also have recruited a lot of other leaders who have different perspective and experience in particular credit lines like:  Asset based lending Commercial real estate Government guaranteed products  In addition, we're putting together a group of professionals who haven't been lending the money but they've been supporting the lending industry through providing their professional services for the due diligence. You're joining us was one such instance where you're an expert on credit data, credit histories and how the FICO(r) score stacks up.  How credit scores can be accurate or sometimes not so accurate for business owners. Explaining these kinds of lessons, giving commercial lenders more context around the job that they have to do.  Similarly we have been working with a real estate appraiser and an environmental engineer that is going to help teach bankers how to evaluate property in terms of the environmental risk.  We have an attorney creating content about the different closing functions, the different contracts banks use, the different issues that can arise with the property title and so forth. Dave: I think that is all key information and to have it all in a concise video format. I don't think it has been done before for the commercial lender and I'm very excited to be a part of it. Charles how can people find the products or take a look at what you have to offer? Charles: Our website SBFI.ORG that stands for Small Business Finance Institute SBFI.ORG and there's a tab there that says “lender training” just follow the navigation from there to see everything we offer. Dave: Thank you so much for being on the blog today, do you want to give out your email address so people can contact you directly? Charles: Certainly director@SBFI.ORG thank you so much Dave.Commercial Lender Training provided by the Small Business Finance InstituteNever Pay A CollectionIf you want to see more videos about credit and credit scoring check these out at www.thecreditguy.tv. If  you are a mortgage lender please share this on your Facebook or LinkedIn page.   If you have any questions, leave them down below I'd be happy to answer them. 7 secrets of a perfect credit scoreGo to www.getloanready.com to find other ways to improve your credit score. I'm Dave Sullivan here for the credit guy TV so you with a little bit me we're going to change the credit industry thank youWhy is my credit score different when a lender pulls it? 90% of Top Lenders Use FICO® Scores

Commercial Lender Training provided by the Small Business Finance Institute with Founder Charles Green Interview. Hi everybody Dave Sullivan here for the Credit Guy TV with special guest... <a href="https://www.linkedin.com/profile/view?id=AAYAAABIhlABQ95tcH6pKYOgoYtZi9ILB0t9esc&amp;authType=name&amp;authToken=pnto&amp;trk=mirror-profile-memberlist-photo" rel="nofollow" target="_blank">Charles Green</a> of the <a href="https://youtu.be/XulJPascREg" rel="nofollow" target="_blank">Small Business Finances Institute</a> Dave: Charles thanks for reaching out to me on LinkedIn, I have really enjoyed our relationship. You have found a niche, something that the commercial banking industry needs. Tell me a little bit more about that. Charles: Dave, I have been a career banker since the late seventies, when I joined the industry, I was given about eight weeks of training in my first two years of employment. I was really not worth much to the company that hired me, but after the S&amp;L crisis internal training programs for most banks sort of went away and it's never really come back, although there have been some really good times since. I started a training operation to create content to train commercial lenders the fundamental skills needed to evaluate, fund and close commercial loans across all different product types.  We plan to deliver this through streaming video across the nation. Dave: Training is so important and has been overlooked in the commercial space. The mortgage lender has really been trained to death today and commercial lending is ignored completely.  There is a real need for this don't you agree? Charles: I do, mortgage brokers are licensed and that gives them particularly standards that they have to adhere to.  They can be evaluated in a simpler way against those standards.  In commercial lending, you have a diversity of product lines you've got regulated banks and non-regulated finance companies that provide different financing products.  It can be a big sea of people floating around with different kinds of experience with products to offer, that just sort of gets lost to them in the fray and customers suffer consequences, because commercial customers don't always know who can help them and the person that they find might not know where to send them if they can't deal with the situation. Dave: Many times commercial loan officers are really thrust into that position with little or no training. I think this product is very important and I flew down to Atlanta to meet with you to record a session on business credit.  I was very impresses with the professionalism of the organization you have down there, talk a little bit about the teachers that you found for the program as well as your background. <a href="http://thecreditguy.tv/wp-content/uploads/2016/01/IMG_3163.jpg" rel="nofollow" target="_blank"></a><a href="http://thecreditguy.tv/wp-content/uploads/2016/01/IMG_3178.jpg" rel="nofollow" target="_blank"></a><a href="http://thecreditguy.tv/wp-content/uploads/2016/01/IMG_3166.jpg" rel="nofollow" target="_blank"></a> Charles: I have been away from active banking for almost five years, so I had adopted the job title of "Recovering Banker". I still retained quite a bit of this knowledge from my thirty five year career. I have also have recruited a lot of other leaders who have different perspective and experience in particular credit lines like: <ul> <li>Asset based lending</li> <li>Commercial real estate</li> <li>Government guaranteed products</li> </ul> In addition, we're putting together a group of professionals who haven't been lending the money but they've been supporting the lending industry through providing their professional services for the due diligence. You're joining us was one such instance where you're an expert on credit data, credit histories and how the FICO(r) score stacks up.  How credit scores can be accurate or sometimes not so accurate for business owners. Explaining these kinds of lessons, giving commercial lenders more context around the job that they have to do.  Similarly we have been working with a real estate appraiser and an environmental engineer that is going to help teach bankers how to evaluate property in terms of the environmental risk.  We have an attorney creating content about the different closing functions, the different contracts banks use, the different issues that can arise with the property title and so forth. Dave: I think that is all key information and to have it all in a concise video format. I don't think it has been done before for the commercial lender and I'm very excited to be a part of it. Charles how can people find the products or take a look at what you have to offer? Charles: Our website <a href="http://www.SBFI.ORG" rel="nofollow" target="_blank">SBFI.ORG</a> that stands for Small Business Finance Institute <a href="http://www.SBFI.ORG" rel="nofollow" target="_blank">SBFI.ORG</a> and there's a tab there that says “lender training” just follow the navigation from there to see everything we offer. Dave: Thank you so much for being on the blog today, do you want to give out your email address so people can contact you directly? Charles: Certainly <a href="mailto:director@SBFI.ORG">director@SBFI.ORG</a> thank you so much Dave.Commercial Lender Training provided by the Small Business Finance Institute <a href="http://thecreditguy.tv/wp-content/uploads/2015/10/Never-Pay-A-Collection.png" rel="nofollow" target="_blank"></a> Never Pay A Collection If you want to see more videos about credit and credit scoring check these out at <a href="http://http;//www.thecreditguy.tv" rel="nofollow" target="_blank">www.thecreditguy.tv</a>. If  you are a mortgage lender please share this on your <a href="https://www.facebook.com/TheCreditGuy" rel="nofollow" target="_blank">Facebook</a> or <a href="https://www.linkedin.com/in/thecreditguytv/" rel="nofollow" target="_blank">LinkedIn page</a>.   If you have any questions, leave them down below I'd be happy to answer them. <a href="http://thecreditguy.tv/?p=2466" rel="nofollow" target="_blank"></a> 7 secrets of a perfect credit score <a href="http://lifelock.directtrack.com/z/10845/CD10714/" rel="nofollow" target="_blank"></a><a href="http://www.dpbolvw.net/click-7233179-10816433" rel="nofollow" target="_blank"></a><a href="http://www.myfico.com/?clickid=wkLXr02Rcyf2XovyhUQUrXw1UkXXnWQhw2KMQ00&amp;sourceid=Affiliate-_-IR-_-29332-_-402308&amp;cm_mmc=Affiliate-_-IR-_-29332-_-402308" rel="nofollow" target="_blank"></a>Go to <a href="http://www.getloanready.com/" rel="nofollow" target="_blank">www.getloanready.com</a> to find other ways to improve your credit score. I'm Dave Sullivan here for the credit guy TV so you with a little bit me we're going to change the credit industry thank you <a href="http://www.thecreditguy.tv/why-is-my-credit-score-different-when-a-lender-pulls-it/" rel="nofollow" target="_blank">Why is my credit score different when a lender pulls it?</a> <a href="http://track.flexlinks.com/a.ashx?foid=1060673.1772349&amp;fot=9999&amp;foc=1" rel="nofollow" target="_blank">90% of Top Lenders Use FICO® Scores</a>

Commercial Lender Training provided by the Small Business Finance Institute with Founder Charles Green Interview.Commercial Lender Training provided by the Small Business Finance Institute with Founder Charles Green Interview.

Subscribe <a href="http://www.youtube.com/subscription_center?add_user=sullythecreditguy" rel="nofollow" target="_blank">http://www.youtube.com/subscription_c...</a> For more free information on credit and credit scoring check out my blog at <a href="https://www.youtube.com/redirect?q=http%3A%2F%2Fwww.thecreditguy.tv&amp;event=video_description&amp;v=US2pMqzxf6w&amp;redir_token=x85NI9tyW2LYMOCvxzfWBH4_XLF8MTUxNjkzNjg2OUAxNTE2ODUwNDY5" rel="nofollow" target="_blank"> http://www.thecreditguy.tv</a> Join me on LinkedIn at <a href="https://www.youtube.com/redirect?q=http%3A%2F%2Fwww.linkedin.com%2Fin%2Fthecreditguytv&amp;event=video_description&amp;v=US2pMqzxf6w&amp;redir_token=x85NI9tyW2LYMOCvxzfWBH4_XLF8MTUxNjkzNjg2OUAxNTE2ODUwNDY5" rel="nofollow" target="_blank"> http://www.linkedin.com/in/thecreditg...</a> Follow me on Twitter at <a href="https://www.youtube.com/redirect?q=http%3A%2F%2Fwww.twitter.com%2FTheCreditGuyTV&amp;event=video_description&amp;v=US2pMqzxf6w&amp;redir_token=x85NI9tyW2LYMOCvxzfWBH4_XLF8MTUxNjkzNjg2OUAxNTE2ODUwNDY5" rel="nofollow" target="_blank"> http://www.twitter.com/TheCreditGuyTV</a> Like the Facebook Page <a href="https://www.youtube.com/redirect?q=http%3A%2F%2Fwww.facebook.com%2FTheCreditGuy&amp;event=video_description&amp;v=US2pMqzxf6w&amp;redir_token=x85NI9tyW2LYMOCvxzfWBH4_XLF8MTUxNjkzNjg2OUAxNTE2ODUwNDY5" rel="nofollow" target="_blank"> http://www.facebook.com/TheCreditGuy</a> Follow my Pinterest board <a href="https://www.youtube.com/redirect?q=http%3A%2F%2Fwww.pinterest.com%2Fthecreditguy&amp;event=video_description&amp;v=US2pMqzxf6w&amp;redir_token=x85NI9tyW2LYMOCvxzfWBH4_XLF8MTUxNjkzNjg2OUAxNTE2ODUwNDY5" rel="nofollow" target="_blank"> http://www.pinterest.com/thecreditguy</a> All Material included in the presentation, class, video or website is protected under copy write law and the property of Hammer it Out LLC. No portion may be used without express written consent. This class, video, the website contains ideas and opinions of its author. It is designed to provide knowledge in an accurate way with regard to the subject matter covered. It is to be consumed with the understanding that the author, publisher, or any affiliates are not engaged in rendering legal advice. If legal advice is required, the services of a lawyer should be sought. Although every precaution has been taken in the preparation of this information, the publisher, author, and affiliate assume no responsibility for errors or omissions. No patent liability is assumed with respect to the use of the information contained herein. The author, publisher, and affiliate specifically disclaim any responsibility for any liability, loss, or risk. Personal or otherwise; which in incurred in consequence, directly or indirectly, or in the use and application of any of the contents of this book, class, video or website

3 Ways to Handle Collections

Subscribe http://www.youtube.com/subscription_center?add_user=sullythecreditguy  For more free information on credit and credit scoring check out my blog at http://www.thecreditguy.tv Join me on LinkedIn at http://www.linkedin.com/in/thecreditguytv Follow me on Twitter at http://www.twitter.com/TheCreditGuyTV Like the Facebook Page http://www.facebook.com/TheCreditGuy Follow my Pinterest board http://www.pinterest.com/thecreditguy All Material included in the presentation, class, video or website is protected under copy write law and the property of Hammer it Out LLC. No portion may be used without express written consent. This class, video, the website contains ideas and opinions of its author. It is designed to provide knowledge in an accurate way with regard to the subject matter covered. It is to be consumed with the understanding that the author, publisher, or any affiliates are not engaged in rendering legal advice. If legal advice is required, the services of a lawyer should be sought. Although every precaution has been taken in the preparation of this information, the publisher, author, and affiliate assume no responsibility for errors or omissions. No patent liability is assumed with respect to the use of the information contained herein. The author, publisher, and affiliate specifically disclaim any responsibility for any liability, loss,

Subscribe <a href="http://www.youtube.com/subscription_center?add_user=sullythecreditguy" rel="nofollow" target="_blank">http://www.youtube.com/subscription_center?add_user=sullythecreditguy</a> For more free information on credit and credit scoring check out my blog at <a href="http://www.thecreditguy.tv" rel="nofollow" target="_blank">http://www.thecreditguy.tv</a> Join me on LinkedIn at <a href="http://www.linkedin.com/in/thecreditguytv" rel="nofollow" target="_blank">http://www.linkedin.com/in/thecreditguytv</a> Follow me on Twitter at <a href="http://www.twitter.com/TheCreditGuyTV" rel="nofollow" target="_blank">http://www.twitter.com/TheCreditGuyTV</a> Like the Facebook Page <a href="http://www.facebook.com/TheCreditGuy" rel="nofollow" target="_blank">http://www.facebook.com/TheCreditGuy</a> Follow my Pinterest board <a href="http://www.pinterest.com/thecreditguy" rel="nofollow" target="_blank">http://www.pinterest.com/thecreditguy</a> All Material included in the presentation, class, video or website is protected under copy write law and the property of Hammer it Out LLC. No portion may be used without express written consent. This class, video, the website contains ideas and opinions of its author. It is designed to provide knowledge in an accurate way with regard to the subject matter covered. It is to be consumed with the understanding that the author, publisher, or any affiliates are not engaged in rendering legal advice. If legal advice is required, the services of a lawyer should be sought. Although every precaution has been taken in the preparation of this information, the publisher, author, and affiliate assume no responsibility for errors or omissions. No patent liability is assumed with respect to the use of the information contained herein. The author, publisher, and affiliate specifically disclaim any responsibility for any liability, loss,

What Credit Card Should I Payoff First? Credit Score Tips

FICO 9 Now available for the first time  

How long will a hard credit inquiry impact your FICO® score? How long does credit inquiry affect FICO score Get my FICO credit score today! Activate FICO Score Watch Now And Get $10 Off! What... Continue Reading »

<a href="http://www.thecreditguy.tv/how-long-does-credit-inquiry-affect-fico-score/" rel="nofollow" target="_blank">How long will a hard credit inquiry impact your FICO® score?</a> How long does credit inquiry affect FICO score Get my FICO credit score today! Activate FICO Score Watch Now And Get $10 Off! What... <a href="http://www.thecreditguy.tv/how-long-does-credit-inquiry-affect-fico-score/" rel="nofollow" target="_blank">Continue Reading »</a>

How long will a hard credit inquiry impact your FICO® score?

Dave Ramsey

Subscribe  Check out the 6 steps to better credit here  For more free information on credit scoring check out my blog  Join me on LinkedInFollow me on TwitterLike the Facebook PageFollow my Pintrest boards   All Material included in the presentation, class, video or website is protected under copy write law and the property of Hammer it Out LLC. No portion may be used without express written consent. This class, video, the website contains ideas and opinions of its author. It is designed to provide knowledge in an accurate way with regard to the subject matter covered. It is to be consumed with the understanding that the author, publisher, or any affiliates are not engaged in rendering legal advice. If legal advice is required, the services of a lawyer should be sought. Although every precaution has been taken in the preparation of this information, the publisher, author, and affiliate assume no responsibility for errors or omissions. No patent liability is assumed with respect to the use of the information contained herein. The author, publisher, and affiliate specifically disclaim any responsibility for any liability, loss, or risk. Personal or otherwise; which in incurred in consequence, directly or indirectly, or in the use and application of any of the contents of this book, class, video or website.

<a href="%20http:/www.youtube.com/subscription_center?add_user=sullythecreditguy" rel="noopener nofollow" target="_blank">Subscribe</a>  Check out the 6 steps to better credit here  For more free information on credit scoring check out my blog  <a href="http://www.linkedin.com/in/thecreditguytv%20" rel="noopener nofollow" target="_blank">Join me on LinkedIn</a><a href="http://www.twitter.com/TheCreditGuyTV" rel="noopener nofollow" target="_blank">Follow me on Twitter</a><a href="http://www.facebook.com/TheCreditGuy%20" rel="noopener nofollow" target="_blank">Like the Facebook Page</a><a href="http://www.pinterest.com/thecreditguy" rel="noopener nofollow" target="_blank">Follow my Pintrest boards</a>  All Material included in the presentation, class, video or website is protected under copy write law and the property of Hammer it Out LLC. No portion may be used without express written consent. This class, video, the website contains ideas and opinions of its author. It is designed to provide knowledge in an accurate way with regard to the subject matter covered. It is to be consumed with the understanding that the author, publisher, or any affiliates are not engaged in rendering legal advice. If legal advice is required, the services of a lawyer should be sought. Although every precaution has been taken in the preparation of this information, the publisher, author, and affiliate assume no responsibility for errors or omissions. No patent liability is assumed with respect to the use of the information contained herein. The author, publisher, and affiliate specifically disclaim any responsibility for any liability, loss, or risk. Personal or otherwise; which in incurred in consequence, directly or indirectly, or in the use and application of any of the contents of this book, class, video or website.

Dave Ramsey Wrong on Credit Reports and Credit Scores

Date Reported, Date Opened, Date of Last Activity? What Date is most important for your Credit Score? What date is most important. it depends on the type of account. I Explain what... Continue Reading »

<a href="http://www.thecreditguy.tv/date-reported-date-opened-date-of-last-activity/" rel="nofollow" target="_blank">Date Reported, Date Opened, Date of Last Activity?</a> What Date is most important for your Credit Score? What date is most important. it depends on the type of account. I Explain what... <a href="http://www.thecreditguy.tv/date-reported-date-opened-date-of-last-activity/" rel="nofollow" target="_blank">Continue Reading »</a>

Date Reported, Date Opened, Date of Last Activity?

Should you pay off an installment loan to help your credit score?

How long will it take an installment account to improve My Credit score?

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2 Safe ways to improve your credit score

 https://thecreditguy.tv/national-consumer-assistance-plan-2017/  The National Consumer Assistance Plan  Subscribe http://www.youtube.com/subscription_center?add_user=sullythecreditguy  For more free information on credit and credit scoring check out my blog at http://www.thecreditguy.tv Join me on LinkedIn at http://www.linkedin.com/in/thecreditguytv Follow me on Twitter at http://www.twitter.com/TheCreditGuyTV Like the Facebook Page http://www.facebook.com/TheCreditGuy Follow my Pinterest board http://www.pinterest.com/thecreditguy All Material included in the presentation, class, video or website is protected under copy write a law and the property of Hammer it Out LLC. No portion may be used without express written consent. This class, video, the website contains ideas and opinions of its author. It is designed to provide knowledge in an accurate way with regard to the subject matter covered. It is to be consumed with the understanding that the author, publisher, or any affiliates are not engaged in rendering legal advice. If legal advice is required, the services of a lawyer should be sought. Although every precaution has been taken in the preparation of this information, the publisher, author, and affiliate assume no responsibility for errors or omissions. No patent liability is assumed with respect to the use of the information contained herein. The author, publisher, and affiliate specifically disclaim any responsibility for any liability, loss, or risk. Personal or otherwise; which in incurred in consequence, directly or indirectly, or in the use and application of any of the contents of this book, class, video or website

<a href="https://thecreditguy.tv/national-consumer-assistance-plan-2017/" rel="nofollow" target="_blank">https://thecreditguy.tv/national-consumer-assistance-plan-2017/</a> The National Consumer Assistance Plan Subscribe <a href="http://www.youtube.com/subscription_center?add_user=sullythecreditguy" rel="nofollow" target="_blank">http://www.youtube.com/subscription_center?add_user=sullythecreditguy</a> For more free information on credit and credit scoring check out my blog at <a href="http://www.thecreditguy.tv" rel="nofollow" target="_blank">http://www.thecreditguy.tv</a> Join me on LinkedIn at <a href="http://www.linkedin.com/in/thecreditguytv" rel="nofollow" target="_blank">http://www.linkedin.com/in/thecreditguytv</a> Follow me on Twitter at <a href="http://www.twitter.com/TheCreditGuyTV" rel="nofollow" target="_blank">http://www.twitter.com/TheCreditGuyTV</a> Like the Facebook Page <a href="http://www.facebook.com/TheCreditGuy" rel="nofollow" target="_blank">http://www.facebook.com/TheCreditGuy</a> Follow my Pinterest board <a href="http://www.pinterest.com/thecreditguy" rel="nofollow" target="_blank">http://www.pinterest.com/thecreditguy</a> All Material included in the presentation, class, video or website is protected under copy write a law and the property of Hammer it Out LLC. No portion may be used without express written consent. This class, video, the website contains ideas and opinions of its author. It is designed to provide knowledge in an accurate way with regard to the subject matter covered. It is to be consumed with the understanding that the author, publisher, or any affiliates are not engaged in rendering legal advice. If legal advice is required, the services of a lawyer should be sought. Although every precaution has been taken in the preparation of this information, the publisher, author, and affiliate assume no responsibility for errors or omissions. No patent liability is assumed with respect to the use of the information contained herein. The author, publisher, and affiliate specifically disclaim any responsibility for any liability, loss, or risk. Personal or otherwise; which in incurred in consequence, directly or indirectly, or in the use and application of any of the contents of this book, class, video or website

Did your credit score improve July 1st? Here is why.

How Many Credit Cards Should You Have?

To Watch the full interview click here https://youtu.be/VbfEW_lEd8E Subscribe http://www.youtube.com/subscription_center?add_user=sullythecreditguy  For more free information on credit and credit scoring check out my blog at http://www.thecreditguy.tv Join me on LinkedIn at http://www.linkedin.com/in/thecreditguytv Follow me on Twitter at http://www.twitter.com/TheCreditGuyTV Like the Facebook Page http://www.facebook.com/TheCreditGuy Follow my Pinterest board http://www.pinterest.com/thecreditguy All Material included in the presentation, class, video or website is protected under copy write law and the property of Hammer it Out LLC. No portion may be used without express written consent. This class, video, the website contains ideas and opinions of its author. It is designed to provide knowledge in an accurate way with regard to the subject matter covered. It is to be consumed with the understanding that the author, publisher, or any affiliates are not engaged in rendering legal advice. If legal advice is required, the services of a lawyer should be sought. Although every precaution has been taken in the preparation of this information, the publisher, author, and affiliate assume no responsibility for errors or omissions. No patent liability is assumed with respect to the use of the information contained herein. The author, publisher, and affiliate specifically disclaim any responsibility for any liability, loss, or risk. Personal or otherwise; which in incurred in consequence, directly or indirectly, or in the use and application of any of the contents of this book, class, video or website

To Watch the full interview click here <a href="https://youtu.be/VbfEW_lEd8E" rel="nofollow" target="_blank">https://youtu.be/VbfEW_lEd8E</a> Subscribe <a href="http://www.youtube.com/subscription_center?add_user=sullythecreditguy" rel="nofollow" target="_blank">http://www.youtube.com/subscription_center?add_user=sullythecreditguy</a> For more free information on credit and credit scoring check out my blog at <a href="http://www.thecreditguy.tv" rel="nofollow" target="_blank">http://www.thecreditguy.tv</a> Join me on LinkedIn at <a href="http://www.linkedin.com/in/thecreditguytv" rel="nofollow" target="_blank">http://www.linkedin.com/in/thecreditguytv</a> Follow me on Twitter at <a href="http://www.twitter.com/TheCreditGuyTV" rel="nofollow" target="_blank">http://www.twitter.com/TheCreditGuyTV</a> Like the Facebook Page <a href="http://www.facebook.com/TheCreditGuy" rel="nofollow" target="_blank">http://www.facebook.com/TheCreditGuy</a> Follow my Pinterest board <a href="http://www.pinterest.com/thecreditguy" rel="nofollow" target="_blank">http://www.pinterest.com/thecreditguy</a> All Material included in the presentation, class, video or website is protected under copy write law and the property of Hammer it Out LLC. No portion may be used without express written consent. This class, video, the website contains ideas and opinions of its author. It is designed to provide knowledge in an accurate way with regard to the subject matter covered. It is to be consumed with the understanding that the author, publisher, or any affiliates are not engaged in rendering legal advice. If legal advice is required, the services of a lawyer should be sought. Although every precaution has been taken in the preparation of this information, the publisher, author, and affiliate assume no responsibility for errors or omissions. No patent liability is assumed with respect to the use of the information contained herein. The author, publisher, and affiliate specifically disclaim any responsibility for any liability, loss, or risk. Personal or otherwise; which in incurred in consequence, directly or indirectly, or in the use and application of any of the contents of this book, class, video or website

Transform Your Credit Interview

Are you credit score invisible? A recent publication from the CFPB stated concerns about credit invisibility. According to the CFPB 19.4 million Americans, representing 8.3 percent of the adult population do not have enough credit to generate a credit score.  hidden-consumers Remember that with FICO® you need a six-month credit history with at least one open credit card before you can get a FICO® score. I think the CFPB is talking about people who are just starting out with credit or people who don’t use credit very much.   Maybe those people don’t want a credit score and that’s fine for them. They should consider that credit scores are used for auto insurance, homeowners and other insurance policies. Consumers should keep their credit profile open and active to avoid credit invisibility. One great way to do that is to have a utility bill or cable bill automatically paid with a credit card. If a consumer wanted to keep a low credit profile they could use just one credit card and then every month pay their credit card in full. That way you keep at least one account open and active so you avoid credit invisibility. That is a quick tip on credit invisibility.  credit-invisible-by-age Be sure to check out my www.getloanready.com website it is free, there are worksheets and videos to help you take six steps to a better credit score. They can really help anyone and I hope you take advantage of it.  Credit Invisibility If  you are a mortgage lender please share this on your Facebook or LinkedIn page.   If you have any questions, leave them down below I’d be happy to answer them. Go to www.getloanready.com to find other ways to improve your credit score. I’m Dave Sullivan here for the credit guy TV so you with a little bit me we’re going to change the credit industry thank youWhy is my credit score different when a lender pulls it?

<a href="http://thecreditguy.tv/are-you-credit-score-invisible/" rel="nofollow" target="_blank">Are you credit score invisible?</a> A recent publication from the CFPB stated concerns about credit invisibility. According to the CFPB 19.4 million Americans, representing 8.3 percent of the adult population do not have enough credit to generate a credit score. <a href="http://thecreditguy.tv/wp-content/uploads/2015/10/hidden-consumers.png" rel="nofollow" target="_blank"></a> hidden-consumers Remember that with FICO® you need a six-month credit history with at least one open credit card before you can get a FICO® score. I think the CFPB is talking about people who are just starting out with credit or people who don’t use credit very much. Maybe those people don’t want a credit score and that’s fine for them. They should consider that credit scores are used for auto insurance, homeowners and other insurance policies. Consumers should keep their credit profile open and active to avoid credit invisibility. One great way to do that is to have a utility bill or cable bill automatically paid with a credit card. If a consumer wanted to keep a low credit profile they could use just one credit card and then every month pay their credit card in full. That way you keep at least one account open and active so you avoid credit invisibility. That is a quick tip on credit invisibility. <a href="http://thecreditguy.tv/wp-content/uploads/2015/10/credit-invisible-by-age.png" rel="nofollow" target="_blank"></a> credit-invisible-by-age Be sure to check out my <a href="http://www.getloanready.com/" rel="nofollow" target="_blank">www.getloanready.com</a> website it is free, there are worksheets and videos to help you take six steps to a better credit score. They can really help anyone and I hope you take advantage of it. <a href="http://thecreditguy.tv/wp-content/uploads/2015/10/Credit.png" rel="nofollow" target="_blank"></a> Credit Invisibility If  you are a mortgage lender please share this on your <a href="https://www.facebook.com/TheCreditGuy" rel="nofollow" target="_blank">Facebook</a> or <a href="https://www.linkedin.com/in/thecreditguytv/" rel="nofollow" target="_blank">LinkedIn page</a>.   If you have any questions, leave them down below I’d be happy to answer them. <a href="http://lifelock.directtrack.com/z/10845/CD10714/" rel="nofollow" target="_blank"></a><a href="http://www.dpbolvw.net/click-7233179-10816433" rel="nofollow" target="_blank"></a><a href="http://www1.myfico.com/lp/AFF010001.aspx?clickid=wkLXJFx7zVPeRtcQdozF%3Azz%3AUkQSVc2Rw2KO1Y0&amp;sourceid=Affiliate-_-IR-_-29332-_-402311&amp;cm_mmc=Affiliate-_-IR-_-29332-_-402311" rel="nofollow" target="_blank"></a>Go to <a href="http://www.getloanready.com/" rel="nofollow" target="_blank">www.getloanready.com</a> to find other ways to improve your credit score. I’m Dave Sullivan here for the credit guy TV so you with a little bit me we’re going to change the credit industry thank you <a href="http://www.thecreditguy.tv/why-is-my-credit-score-different-when-a-lender-pulls-it/" rel="nofollow" target="_blank">Why is my credit score different when a lender pulls it?</a>

Are You Credit Score Invisible? 

What is trended credit data?Fannie Mae made an announcement last week regarding their desktop underwriting system. In 2016 they are going to start using trended credit data. You may not have heard this term before but trended credit data is really looking at your utilization ratio and they’re looking further back in credit history than they have in the past. This is primarily because Fannie believes trended credit data is a better predictor of someone’s ability to repay a debt. What is trended credit data really looking at? Like I said it’s really looking at how consumers are paying down balances every month, are they transferring balances between credit cards, are they someone who leaves the balance high and just pays the minimum. What Fannie is trying to predict is will a borrower pay this mortgage back and how consumers carry balances on their credit cards is a very good indicator of whether or not they are ultimately going to repay a mortgage loan in addition to credit cards How will this change impact mortgage industry?

What is trended credit data? <a href="http://www.fanniemae.com/portal/about-us/media/corporate-news/2015/6305.html" rel="nofollow" target="_blank">Fannie Mae made an announcement last week regarding their desktop underwriting system</a>. In 2016 they are going to start using <a href="http://www.housingwire.com/articles/35384-fannie-mae-lowers-mortgage-risk-with-new-credit-scoring-system" rel="nofollow" target="_blank">trended credit data</a>. You may not have heard this term before but trended credit data is really looking at your utilization ratio and they’re looking further back in credit history than they have in the past. This is primarily because Fannie believes <a href="http://www.thetruthaboutmortgage.com/fannie-mae-to-use-trended-data-when-evaluating-your-credit/" rel="nofollow" target="_blank">trended credit data</a> is a better predictor of someone’s ability to repay a debt. What is <a href="http://www.equifax.com/assets/USCIS/equifax_trended_data_101.pdf" rel="nofollow" target="_blank">trended credit data</a> really looking at? Like I said it’s really looking at how consumers are paying down balances every month, are they transferring balances between credit cards, are they someone who leaves the balance high and just pays the minimum. What Fannie is trying to predict is will a borrower pay this mortgage back and how consumers carry balances on their credit cards is a very good indicator of whether or not they are ultimately going to repay a mortgage loan in addition to credit cards How will this change impact mortgage industry?

What is Trended Credit Data? Credit Scores Look Deeper

The USA Today story implied that young people may not understand how credit works but it has more to do with what generation has the longest credit history. Younger generations have lower credit scores because they don’t have the opportunity to have a 20 or 30-year-old credit account. If a consumer has never been late and they have a credit card that is two years old vs someone that has a 30-year-old credit card; the person who has the 30-year-old credit card is going to have a higher score. If the older person has missed payments has collections on their credit or public record then obviously they are going to have a lower credit score. For the most part, people pay their bills on time, just having a longer credit history is going to give consumers a better score.

The USA Today story implied that young people may not understand how credit works but it has more to do with what generation has the longest credit history. Younger generations have lower credit scores because they don’t have the opportunity to have a 20 or 30-year-old credit account. If a consumer has never been late and they have a credit card that is two years old vs someone that has a 30-year-old credit card; the person who has the 30-year-old credit card is going to have a higher score. If the older person has missed payments has collections on their credit or public record then obviously they are going to have a lower credit score. For the most part, people pay their bills on time, just having a longer credit history is going to give consumers a better score.

What generation has the best credit score?

MY BUSINESS PHILOSOPHYManaging people is the most difficult part of any business. How can you select the right people to represent your company? When is it time to part ways? How do you manage the egos and feelings of a high powered sales team?

MY BUSINESS PHILOSOPHY Managing people is the most difficult part of any business. How can you select the right people to represent your company? When is it time to part ways? How do you manage the egos and feelings of a high powered sales team?

MY BUSINESS PHILOSOPHY

Installment or Revolving? How will Experian quantify the new Rental Trade lines? I detail the changes that will effect renters now that Experian will begin reporting good and bad credit history in their main repository file.... Continue Reading »

<a href="http://www.thecreditguy.tv/installment-or-revolving-how-will-experian-quantify-the-new-rental-trade-lines/" rel="nofollow" target="_blank">Installment or Revolving? How will Experian quantify the new Rental Trade lines?</a> I detail the changes that will effect renters now that Experian will begin reporting good and bad credit history in their main repository file.... <a href="http://www.thecreditguy.tv/installment-or-revolving-how-will-experian-quantify-the-new-rental-trade-lines/" rel="nofollow" target="_blank">Continue Reading »</a>

Installment or Revolving? 

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