6-13-23 How Credit Works

Credit Reports and Credit Scoring impacts everyone

This course will update new credit guidelines and clear up the confusion that has surrounded Credit Reports and Credit Scoring by outlining the important facts that you should know as an Agent.

Course Objectives:
-Understanding Credit Scoring and the importance
the major Agency’s play and how they work.

-The Three Major CRA’s Equifax, Experian and Trans
Union, their role in Credit Scoring and Reporting.

-Identify Tips & Tricks to help a credit score improve.

-Identify the features on a Consumer Credit Report that
make up a ‘Tradeline ‘

-Trended Data – explain the concept of Trended Data
required on all Residential Credit Reports and its
impact on Credit Scoring

-Debunking the many myths and hypothesis regarding
the Scoring Models.

-Updates & New Programs

Virginia Licensing Credit:
CE 2 Real Estate Related
PLE 2 Current Industry Issues

Instructor: Mike Ott, First Heritage Mortgage