Trended Credit Reports Coming in September

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The new “Trended” credit reports are coming in September.  This is going to be a pretty big shift in credit reporting and learning all about it now is pretty important.  Not only for the sake of your job, but for the sake of your marketing as well.  Tune in to today’s show and see our thoughts on it.



  • Nice job guys (as usual), one addition. While FNMA has indicated they will use trended credit data as part of the underwriting process; this does NOT impact FICO scores. We’re receiving an inordinate number of inquires from mortgage and real estate professionals wrongly believing they can improve FICO scores through updating trended data (i.e. through credit rescoring or the consumer dispute process.)

    At present, FICO uses only the current “snapshot” data regarding revolving account balances, payment amounts and the corresponding ratios; the inclusion of trended data does not impact FICO scores in any way.

    Thomas Conwell July 25, 2016 4:58 am Reply
  • List your Home and Ask MORE for it that the present market, the market will WHAT?

    Nice idea, but not from the Appraisal Side. The Lenders and Fannie Mae have been kicking the appraiser for showing increasing markets and attempting to show positive time adjustments to credit sales in this increasing market.

    Just for numbers, lets say over the past 6 months the value of sales is going up $2,000 a month. Last month the sales were $350,000 and you expect to sell next month. So you and your agent list the house for $354,000. Right on time you get an offer for $253,000 and your happy.

    The appraiser comes out and one of two things happen

    1 – The appraiser uses the sales from last month and your property comes in at $352,000

    2 – The appraiser uses the sales from last month and your property comes in at $354,000
    but, to get this value the appraiser shows a positive time adjustment from the contract date of the prior sales to the date of your contract. All sounds good, right
    WRONG. The Lender, Fannie Mae or FHA then gets back to the appraiser and tells then they can not make a positive adjustment here. They make the appraiser remove the adjustment and once again it comes in at $352,0000

    Now, some appraisers have stood up and said, this is my report and I will not change it. But they then find that no more work is coming to them through the same channels that this task did. So the next time it happens the appraiser gives in and leaves this adjustment out leaving the seller and buyer to work out a change to the contract.

    AND, no one is happy.

    The Appraiser looks like the bad guy as the Agents, Buyer and Seller don’t see that is it the Lender, Fannie Mae or FHA that is beating the appraiser up

    Oooo Joy

    James the Appraiser July 25, 2016 7:28 am Reply
  • I don’t see trended data having a major impact on most borrowers approvals, but it is a boon to the paper industry. what used to be a 10 page report is now 30+. Used to see 5-6 acts per page, and now we only see about 1.5 per page.

    Rex July 25, 2016 1:54 pm Reply
  • Hello Frank, We met a decade ago when you were “Think Big and Work Small” I have followed you all of these years. I even paid you to help me understand how to make better videos. I use your videos to help train my agents. However, on todays show you are missing the mark with the statement that agents should be more aggresive with their pricing. You have it wrong, sellers WANT us to price the properties higher and when we do we end up having to reduce the contract price after the appraiser says, “sorry, but I can’t get the comps to justify your price”. My motto now is “list low and sell high” List the property just under the last sale and then receive multiple offers and end up finding the one who will pay $5,000 (or whatever) over the appraised price. Maybe you have been off the streets a little too long. You can’t always go by those damn statistics. have a nice day.

    Tim Wesely July 25, 2016 10:22 pm Reply
  • I wanted to send this to all my loan officers, but can’t because you called the millennials “bas…” and I can’t send such language throughout our company. Makes me really sad that you don’t have respect for your listeners.

    Jackie Brewster July 28, 2016 6:32 am Reply

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