Credit Report Information

Every consumer 18 and older who has ever had a debt obligation such as a credit card or car loan has a credit report. Credit reports are maintained by credit bureaus and contain information about your debts and payments on those debts. Today there are three national credit bureaus that dominate the industry: Equifax®, Experian® (formerly TRW), and TransUnion. Each bureau owns or is affiliated with hundreds of previously independent local credit bureaus. In addition, there are still many smaller regional credit bureaus that have no relationship with the three major bureaus.

When you apply for any mortgage loan, the lender will look at your credit report to see how you manage your debts. Greentree, however, does not hold credit blemishes against you! We understand that situations arise and things happen. We will work with you to help find a solution that fits, and help guide you to get your credit back on track.

The typical consumer's credit report includes the following types of information:

Identifying information: includes your name, nicknames, current and previous addresses, Social Security number, date of birth, and current and previous employers. This information comes from any credit application you have completed.

Credit information: includes specific information about each account including the date opened, credit limit or loan amount, balance, monthly payment and payment pattern during the past several years. The report also states whether anyone else besides you (i.e. a spouse or cosigner) is responsible for paying the account. This information comes from companies with whom you do business.

Public record information: includes federal district bankruptcy records; state and county court records, tax liens and monetary judgments; and, in some states, overdue child support payments. This information comes from public records.

Inquiries: includes the names of those who have obtained a copy of your credit report for any reason. This information comes from the credit reporting bureau, and it remains on file for as long as two years, as per federal law.