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You can dispute credit report errors with the help of these sample letters: Customize this letter from the Federal Trade Commission (FTC) and send it to the creditor that provided the incorrect ...
One simple way to do this is to write a letter to Congress expressing your position on student loan issues. Added together with the letters of others with similar beliefs, such letters can be a ...
No-credit-check loans do not require a review of your credit score, which can make them convenient if you have bad credit. But they can be risky and often have extremely high interest rates and ...
Loan origination is the process by which a borrower applies for a new loan, and a lender processes that application. Origination generally includes all the steps from taking a loan application up to disbursal of funds (or declining the application).
A loan with few to no documentation or credit history requirements is easier to qualify for, but generally carries a significantly higher interest rate. [2] The term came to prominence during the 2007-2008 financial crisis when up to one-third of all new mortgages issued were no-doc or low-doc loans. [3]
A stated income loan is a mortgage where the lender does not verify the borrower's income by looking at their pay stubs, W-2 (employee income) forms, income tax returns, or other records. Instead, borrowers are simply asked to state their income, and taken at their word. These loans are sometimes called liar loans or liar's loans. [1]
Most lenders do a type of credit check called a hard credit pull when a borrower applies for a personal loan. A hard pull shows up on your credit report and can affect your credit score. A few ...
Loan agreements are documented via their commitment letters, agreements that reflect the understandings reached between the involved parties, a promissory note, and a collateral agreement (such as a mortgage or a personal guarantee). Loan agreements offered by regulated banks are different from those that are offered by finance companies in ...