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Understand how your credit information is used.
Credit scoring, also known as FICO scoring, is a statistical method of assessing the credit risk of a loan applicant.
A credit profile details your credit history as it has been reported to the credit reporting agencies by lenders who have extended credit to you.
This article includes address, phone and web site information for the main credit agencies.
Lenders may look at other information besides your credit score and credit profile before deciding whether to approve your mortgage.
The Fair Credit Reporting Act outlines specifically who can see your credit profile and for what purposes.
You have the right, under the Fair Credit Reporting Act, to dispute the completeness and accuracy of information in your credit file.
What to do to increase your chances of being approved for a mortgage.
According to one non-profit debt counseling agency, some 40,000 consumers each year are victims of this crime, which is a serious type of fraud.