Have you heard the news?
March 27, 2017
This is good news for some consumers and could likely change the underwriting criteria for banks – Equifax, Experian and TransUnion, beginning on 7/1/2017, will begin excluding tax liens and civil judgements from their credit reports. Although these changes could help consumers appear more credit-worthy, the updated scores and potential jump in many scores could make it more difficult for lenders to base loan decisioning on pure credit scores.
We will provide a more in-depth look into this decision and report those findings and concerns in our CA weekly a week from this Thursday.