Thomas Conwell's Blog

Of all the conferences and trade show events we attend and exhibit at annually - I'm especially looking forward to the National Association of REALTORS annual conference in New Orleans. Not only do we get to interact and learn from more than 17,000 attendees - but as a "foodie", Nawlins has no c...

Much attention has focused on the announcement that FICO is releasing an updated credit scoring model entitled FICO Score 9. This new algorithm which is scheduled to be available in the fall touts 3 primary improvements, Once repaid, debts that went to collection agencies won’t count against a co...

FTC Announces Expanded Business Education Campaign on 'Red Flags' RuleTo assist small businesses and other entities, the Federal Trade Commission staff will redouble its efforts to educate them about compliance with the "Red Flags" Rule and ease compliance by providing additional resources and gu...

  Red Flag requirements take effect August 1, 2009 requiring more than 2,000,000 entities - virtually all types of lender including banks, credit unions, mortgage brokers and lenders, auto/motorcycle dealers, utility companies and cell phone providers take significant steps to detect and prevent...

A: There are 2 reasons a borrower's score may differ between credit reports - even if those reports were produced at virtually the same time. 1) Different Repository DataThis accounts for most of the score differences.  Remember that the FICO score is based on what's contained in that consumer's ...

FICO®scoring is the most misunderstood facet of credit reporting. Before undertaking any actions in an attempt to improve your borrower's score, it's important that you first understand "why they have the score they have." The biggest surprise to most loan originators is that your tri merge repor...