PENSACOLA, Fla., June 5, 2017 /PRNewswire/ -- As of July 1st, 2017, the mortgage banking industry along with landlords, employers and a host of other service providers will no longer receive important local government information on a loan applicant's status regarding property tax liens and civil judgments. TransUnion, Experian and Equifax will no longer provide this important data to the lending industry and the policy change has many lenders unnerved about the expected consequences. The biggest worry is the uptick in FICO scores due to the lack of data on civil judgements and tax liens…both of which are indicators of a borrower's ability to repay.
TruePicture, a service provided by Distressed Real Estate Consulting Services, Inc., can fill the "information void" left by the 3 credit rating agencies. Company president Howard C. Liggett states, "Our Company has been providing this very same data to REO banking clients and institutional tax lien investors since 2007. This niche was made for our existing infrastructure and we are excited about the opportunity ahead to offer accurate data on local civil judgements, tax liens and other encumbrances that will enter into the lenders' decision making process." TruePicture will provide the mortgage banking industry with the most accurate and thorough research available and at the most competitive pricing. For further information on the TruePicture service contact Distressed Real Estate Consulting Services, Inc. at 850.434.3100 or 850.607.2875. Email: email@example.com
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/truepicture-launched-to-fill-void-left-by-credit-rating-agencies-300468164.html
SOURCE Distressed Real Estate Consulting Services, Inc.