Vantage Score; Friend or Foe?
The Big 3 Credit Bureaus have recently announced they will be releasing their newly formed Vantage Score this year to take on the current FICO credit rating system. Many are concerned about how effective this new rating system will be. Will consumers benefit from this new source of credit score or will they be left with more information to monitor and more credit reporting information to keep track of?
Traditionally, FICO credit scoring system has been the most highly except credit report and credit score by lenders. This score ranges from 500-850 and will give lenders a overall analysis of what your credit handling is. The new Vantage Score, and what we know about it so far, will be a range from 501- 990 and will attach a letter grade to it ranging from an "A" to an "F".
This letter grade could end up hurting consumers more then helping it. Take for example a person applies for a mortgage and the lender sees only a "C" rating which would be a credit score, based on their system in the range of 701-800. What if the best loan rate would need a "B" rating and your score is 798? Typically lenders would be more flexible if they see your score was close to a threshold, but this all encompassing letter grade would make it less flexible.
We have to wonder, when these credit bureaus could not even agree on a credit score as separate entities for an individual, how well will they be able to agree on a score in their new partnership? It is a shame that it took so long for people to become more aware of their credit reports but now they will be forced to learn a new credit rating system to adapt to a new credit report. In a day when identity theft is running ramped in our society, we are forced to constantly monitor our credit reports to know who is looking at them or who could be using our identification to apply for credit.
We will have to wait until the actual scores are released to fully understand all the elements they will use to determine our credit score. Experian, so far is the only one that has committed to releasing their new Vantage Scores later this summer. Competition is always healthy in business, competition will inevitably help consumers, but until we know all the details about the new Vantage Score, we will have to sit back and wait to see how consumer friendly this new credit rating system really will be.
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Real Estate Calculator Suite Enhanced with More Calculators
Ruston, LA (ContentDesk) August 21, 2004 -- Wheatworks Software, LLC announces the release of Real Estate Calculator Suite 2.3, a Windows?-based collection of 15 real estate calculators which make real estate math easy.If you are stressed by real estate math, Real Estate Calculator Suite can help.
Designed for real estate buyers, sellers and professionals, Real Estate Calculator Suite lets you play with the numbers related to your real estate transactions. Consumers will appreciate the calculator suite's user friendly design, ease of use and "Quick Start" help.
Real estate professionals will be attracted by a comprehensive collection of real estate calculators which provide an easy way to get homebuyers and sellers "in the ballpark".Real Estate Calculator Suite now includes the following calculators:2 Quick Calculators2 Downpayment Savings CalculatorsPopup calculatorMortgage QualifierMonthly and Annual Loan Amortization schedulesLoan Spread CalculatorBiweekly Payment...
Mortgage calculator > Real Estate Calculator Suite Enhanced with More Calculators
Exclusive Internet Mortgage Leads
Exclusive Internet Mortgage Leads are exclusive Mortgage Leads that can be purchased online.
Being a relatively new phenomenon in the mortgage industry, Internet Mortgage Leads are seen to have given unprecedented freedom and flexibility to Borrowers, Brokers and Lenders. All that one has to do is to search for "internet leads".
Search engines display several accredited Internet Mortgage Lead Providers just at a click of the mouse or the keyboard button.
Websites of Mortgage Lead Providers bring the Borrowers, Brokers and Lenders under 'one roof'.
Borrowers fill up the Loan Request Forms [Leads] at the websites.
Loan officers or Mortgage Brokers register themselves by quoting their lending criteria at the same websites.
They browse the leads [or sometimes receive them by email by quoting how many and what type of leads that they require] and make a selection of the leads that they like to purchase.
They sometimes...
Mortgage calculator > Exclusive Internet Mortgage Leads
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Auto Financing - How to Buy a New Car and Save Money
Copyright 2006 Dean Shainin
For those who have been suffering with a worn out, overused, broke down vehicle, getting a new car is high on their list of priorities. However, their finances can be holding them back in doing so. It is really important to consider the money that you will need with auto financing. This is just being clever and wise since many people have a blurred idea of what it will cost them in getting a new or used car.
Some people would intend to pay...
Mortgage calculator > Auto Financing - How to Buy a New Car and Save Money
The Benefits Of Baby Massage
There are actually many benefits to consider when contemplating the art of baby massage. This practice is becoming more commonplace than ever before.One of the most important benefits of baby massage is the added and continuing bond it creates between you and your baby. Even if your baby is premature, you can still perform the type of massage known as ?still or containment holding'.This is very easily accomplished by placing one hand on your baby's head and the other on his or her stomach. Baby...
weight loss Mortgage calculator The Benefits Of Baby Massage Vantage Score; Friend or Foe?
Mortgage calculator > The Benefits Of Baby Massage