3 Credit Bureau Report – Free Score

Its commonplace today for lenders to require borrowers to address recent inquiries on their credit bureau reports. Recent credit bureau inquiries may indicate acquisition of new debt. Since there is a two to three month lag-time between the acquisition of new debt incurred and its presence on a credit bureau report, lenders are requiring written statements from borrowers affirming that no additional debt has been acquired since the credit bureau report was pulled. Lenders feel that this is a necessary step in order limit default risk due to undisclosed debt service payments. This is an example of a Letter of Explanation regarding Credit Bureau Inquries. We have provided you with the dates and companies of your latest credit bureau inquiries. Please provide us with a letter specific to your inquiries and please let us know if youve incurred any new debt as a result of these inquiries. I can be reached at 561-703-3454 or porcellimortgage@gmail.com

Jamie