Re: Full Factual: Have you ever been burned by it?

Posted by SteveX (199.245.32.11) on January 27, 2004 at 17:17:34:

In Reply to: Full Factual: Have you ever been burned by it? posted by Judgmental on January 27, 2004 at 15:35:17:

Hey, I know this one...a CA called me at work once, I told him the debt was SOL & not on my report & that he was SOL & not to call again & he brought up "Full factual" reports & said that it was there forever & I'm screwed forever & will never get a mortgage unless I pay him.....well, he's wrong.

Now I'm no expert here & this is all what I found on the web so take this for what it's worth & by all means do your own research!!!

The official name for these "full factual" reports is a Residential Mortgage Credit Report or RMCR. They are supplied by the CRAs, they are just more in-depth than a regular CR.

They are also secondary reports...a mortgage broker pulls them if your 3 bureau report looks funny or if you've had a BK on it....but not always. They cost a lot of money to run, I've seen prices from $50-$80

If you're fico score is good & you're reports are clean this rarely comes into play...

& this is just my opinion but since they come from the CRAs they are under the same laws as regular credit reports & can be disputed if need be. But that's just a guess.

Once my regular reports are clean I'm going to look into these RMCRs but the only place I've heard of negative info never falling off of them has been from a CA & in your post Judgemental....is that where you heard it from?? Don't belive a word they say, they lie like crazy!

Search the web on RMCR & you'll find out more....

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