NYTIMES-
There’s no hiding now.
Anyone who has recently applied for a mortgage knows that lenders are already looking much more closely at your financial affairs. But soon, they’ll be able to easily delve into the deepest recesses of your financial life, accessing information that never before appeared on your credit report.
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© 2010-19 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.
Looks like it’s time for a real Congress to step in and tell them what information they can collect and use. Period. They make mistakes on the crap they put on the credit reports now and can’t timely delete it… can you imagine how well they’d handle adding and confirming even more?
Now that the banks have ruined America’s credit – they want to bog it down some more?! What we need are some laws that sue their asses off for making mistakes… one false statement $10K… then let’s see how much information they want to be responsible for.
Problem is – until you complain they don’t have to confirm anything. It reminds me of the Privacy Act – you are exposed until you tell them “no.” Seems to me you’re information should remain private until you tell them “yes.”
CoreLogic will probably run it as well as they do the securitization data – half-assed information because the servicers were supposed to be providing the info. Maybe $10K is not enough….