Your Credit Report

Your credit report provides information to current and prospective creditors to help you make purchases, secure loans, pay for college educations and manage your personal finances. Credit reporting makes it possible for stores to accept your checks, banks to offer credit and debit cards, businesses to market products, and corporations to better manage their operations to benefit the world's economy. In brief, it's a picture of your clean credit.

Your credit report is only compiled when you or a lender makes an inquiry. Information supplied by lenders, you and court records is gathered from the credit reporting agency's file and presented in report format for the requester.

Credit grantors send updates to each of the credit reporting agencies, usually once a month. These updates include information about how their customers use and pay their accounts.

Under the Fair Credit Reporting Act, you may be entitled to receive a free copy of your personal credit report if you have been declined credit, housing or employment in the last 60 days. To request your free copy, ask your mortgage company or contact one of the credit reporting agencies directly.

Additional information is located on these pages:

• Bad Credit Mortgage Loan - When those with bad credit try to get mortgage loans.
• Bad Credit Mortgage Issues - Why folks with bad credit have trouble getting a good mortgage interest rate.
• Credit Grade - Mortgage companies often grade your loan application based on credit related items such as payment history, amount of debt payments, bankruptcies, equity position, and your credit score.

RMCN Credit Services

1611 Wilmeth Road, Suite B

McKinney TX 75069