Posts tagged "fico"

Job Offer for Mortgage Loan officer… Scam or Real?

I got an email from a guy sayign he’s looking for 2 more employees for his loan office.

The job I was offered goes like this: I’ll be a w-2 employee, and not need a license since I’ll be working under the license of the firm (E**** Lending).

My job is basically to go out and get leads, any way I can, like talk to bankers, Realtors, etc and get them to send me their below 620 fico people. I will train about a month, then go out. Non-paid training. I get 50% first loan, 60% second & third, and then 70% split for the remainder of while I am there. Basically, I don’t ever have to be in the office, I just go out, seek leads, and take them to the processor, and if it funds, I get my check.

Here’s where this confuses me:

What’s to stop a person off the street from bringing in a bunch of leads and getting paid like I will be?

Will I get in trouble for working like this? (i.e. No License)

Should I stay here, or risk a 100% commission job?

Home Mortgage loan dilemma.?

lets say I’m currently applying for a “no income check” home mortgage in the amount of $ 320,000 for a house worth $ 480,000USD, meaning I’ll have $ 160K down that’s well over 30%. If the house appraised for at least $ 480k, will the lender ever lose money on this mortgage if the house ended up in foreclosure? Also, will the lender ever reject this mortgage loan application if they had nothing to lose but to gain, assuming that the borrower have well over 700 FICO and perfect past payment history? If the house ended up in a foreclosure, wouldn’t the lender will end up making profit anyway given the big chunk of down payment and the value of the home?? SO, is there any reason for them to actually reject the application with this kind of situation?

Does the bank where I have been maintaining good account from 8 yrs will give be best rate for my mortgage ?

I have been maintaining my bank account with bank “A” from past 8 years and having been maintaining it with good stand.
I have a good fico and 20% down payment and wante to buy a home.

I wanted to shop for the best mortgage banks which can lend me loan for my home with the lowest interest rate including fees and everything.

So does the bank “A” where I have been holding account would give me better rate compared to other banks since they have my info and other things ? or doesn’t matter ?

Paid Off Entire Credit Card Debt, Will Credit Scores Continue To Increase?

I fortunately just was able to cash out some stock options that have matured and was able to pay off about $20k in credit card debt (most were maxed) and $25k in auto loan debt.  I only have student loans and my mortgage remaining which have always been and are in good standing.  I noticed that my score over the last month of paying everything off jumped up from 640 to 680.  Today when I subscribed to Score Watch it was at 694.  Should I expect a continued rise in my FICO score rising over the next couple of months if I keep having no credit card debt balance and continue paying my student loans and mortgage on time?  I don't want to waste money on monitoring it if that was pretty much the only jump it is going to take.  Thanks in advance for any advice.

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Thanks to myFICO – EQ 700, TU 750 (up from 501 a year ago)

Thanks to all the help and advice from the myFICO community, I've worked and have my EQ up to 700 and TU up to 750! Also because of my lovely new scores.

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secured v non

i have a 500 cl orchard card visa and have been offered a 500 cl orchard mc.  Would like to have a higher cl on one card.  Would it be better to have a $1,000 secured card instead of two nonsecured?  Does that affect the fico score?

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Credit Sesame?

Hi all, I'm wondering is anyone using credit monitor service from Credit Sesame ( http://www.creditsesame.com/ )? It appears to be free so is it safe and what kind of score (FICO or FAKO) does it give you?   Thank you

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Credit Inform…offered by Capital One.

Is the credit score provided by Credit Inform a FAKO or FICO? The score is based on your Experian Report.

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EQ score

While on the phone with an EQ rep today, she was trying to pitch me their 3-1 service. She asked why I was looking at my report and where I got it from.

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Suspicious balance due invoice in email

Hello,   I just received an email in the form of an invoice saying that I bought a $2200 earring from an online jewler in Canada.

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