Advertisement
HomeCollectionsEquifax
IN THE NEWS

Equifax

FEATURED ARTICLES
BUSINESS
By Kenneth Harney and Kenneth Harney,Earthlink.net | December 15, 2006
Homebuyers and refinancers face higher fees for credit reports beginning Jan. 1 -- a price boost that has mortgage, credit industry and consumer group leaders fuming. Some believe that the higher fees will have an inordinately heavy impact on moderate-income and minority first-time mortgage applicants who have nontraditional credit patterns, marginal credit scores or "thin" credit files. They also predict that as a result of the increased costs, mortgage loan officers may not shop as aggressively for such clients -- leaving them with higher interest rates and worse mortgage choices than they'd otherwise receive.
ARTICLES BY DATE
NEWS
By Jacques Kelly, The Baltimore Sun | November 29, 2013
Edward Joseph "Ned" McNeal Sr., who served in the General Assembly and who later headed the Credit Bureau of Baltimore, died at Sinai Hospital on Wednesday after suffering a fall at his home. The Timonium resident was 86. Born in Baltimore and raised on Cresmont Avenue, he was a 1945 graduate of Loyola High School. He then served in the Navy aboard the Absecon, a tender. He earned degrees at what is now Loyola University Maryland and the University of Baltimore School of Law. Mr. McNeal represented Northeast Baltimore in the House of Delegates from 1955 to 1963.
Advertisement
BUSINESS
By Los Angeles Times | August 9, 1991
Citing concern over consumer privacy, one of the nation's largest credit reporting agencies said yesterday that it would stop renting mailing lists to direct marketers.Atlanta's Equifax Inc., which has been under pressure from the New York attorney general to stop the practice, admitted the move probably would not slow the flow of junk mail solicitations. But Equifax said it made the decision -- which will cost the company $11.5 million each year -- to foster better customer relations."This decision clearly reflects . . . our commitment to maintaining the delicate balance between consumer concerns about fair information practices and business' legitimate information needs," said Equifax President and Chief Executive C.B. "Jack" Rogers Jr. in a prepared statement.
BUSINESS
October 11, 2007
Equifax Inc. Shares declined $2.54 to $36.86 after the provider of consumer-credit information dropped on speculation that it will report slowing revenue growth because of slumping demand for housing loans.
BUSINESS
October 11, 2007
Equifax Inc. Shares declined $2.54 to $36.86 after the provider of consumer-credit information dropped on speculation that it will report slowing revenue growth because of slumping demand for housing loans.
NEWS
By Susan Baer and Susan Baer,Washington Bureau | October 14, 1992
WASHINGTON -- Complaints by former Perot volunteers that their credit files have been improperly checked have led one large credit agency to ask the Secret Service and the U.S. attorney's office in Georgia to investigate possible computer fraud and abuse.A spokeswoman for Equifax Inc., a large credit-reporting agency based in Atlanta, said yesterday that its consumer files may have been broken into by unauthorized personnel using the confidential member number and security access code belonging to one of its customers.
BUSINESS
November 22, 1996
HCIA, the Baltimore health data company, announced yesterday that it is buying Equifax Health Analytical Services for $11.5 million in cash.The analytical services unit, based in Rochester, N.Y., was formed in 1984 when Atlanta-based Equifax Inc. bought HealthChex Inc. Equifax Inc. is a large credit-reporting firm that moved into health data a few years ago, but it recently announced it is getting out of that business. It announced sales of another health-related unit this month and yet another in September.
BUSINESS
By Barton Crockett and Barton Crockett,American Banker | April 22, 1992
NEW YORK -- The entire credit card industry risks losses from an elaborate electronic fraud being investigated in San Diego, according to law enforcement authorities there.A band of sophisticated computer tinkerers, known as hackers, allegedly invaded the data bases of credit reporting agencies to obtain valid credit card numbers, then used the numbers to make transactions that were cleared through the credit card payment systems.The extent and cost of the fraud are not known, but San Diego police say computer hackers in that city may have made millions of dollars of fraudulent purchases using credit card numbers stolen from Atlanta-based Equifax Credit Information Services Inc."
BUSINESS
By Barton Crockett and Barton Crockett,American Banker | April 22, 1992
NEW YORK -- The entire credit card industry risks losses from an elaborate electronic fraud being investigated in San Diego, according to law enforcement authorities there.A band of sophisticated computer tinkerers, known as hackers, allegedly invaded the data bases of credit reporting agencies to obtain valid credit card numbers, then used the numbers to make transactions that were cleared through the credit card payment systems.The extent and cost of the fraud are not known, but San Diego police say computer hackers in that city may have made millions of dollars of fraudulent purchases using credit card numbers stolen from Atlanta-based Equifax Credit Information Services Inc."
NEWS
July 26, 1991
For a close look at credit reports, The Evening Sun's Georgia C. Marudas obtained copies of her own files from the three major companies, TRW Information Systems, Equifax Inc. and Trans Union Corp., and copies of her husband's files from Equifax and TRW. Here are the highlights:* Although I've been working for 22 years, creditors might conclude I've been living in a cave. The reports contain precious little information about me, despite two house purchases, several car purchases, major credit cards and a host of retail accounts, none of which has ever been in arrears.
BUSINESS
By Kenneth Harney and Kenneth Harney,Earthlink.net | December 15, 2006
Homebuyers and refinancers face higher fees for credit reports beginning Jan. 1 -- a price boost that has mortgage, credit industry and consumer group leaders fuming. Some believe that the higher fees will have an inordinately heavy impact on moderate-income and minority first-time mortgage applicants who have nontraditional credit patterns, marginal credit scores or "thin" credit files. They also predict that as a result of the increased costs, mortgage loan officers may not shop as aggressively for such clients -- leaving them with higher interest rates and worse mortgage choices than they'd otherwise receive.
BUSINESS
By CBS MarketWatch | June 13, 2004
If you have a mortgage that has not been paid off, that isn't a black mark on your credit score. Experian Consumer Direct, one of three credit agencies that analyze and score credit, found the average credit score for consumers with at least one current mortgage is 716 - better than the 667 grade scored by people without a mortgage. Credit scores rate your financial status on a scale of 300 to 800. (Higher is better.) Lenders rely on them to analyze credit risk and determine interest rates.
BUSINESS
By Liz Pulliam Weston and Liz Pulliam Weston,LOS ANGELES TIMES | August 24, 2003
Question: While I was refinancing my mortgage recently, my bank pulled credit scores from three sources. The scores were referred to as Beacon Score, Fair Isaac Model Score and Empirica Score. My Fair Isaac was 775 while my Empirica was 776. However, my Beacon was 608. Fortunately, this did not affect the rate I'm receiving for the refi, but I was surprised that there was such a discrepancy between Beacon and the other two. Is that unusual? Do they each have their own formula for determining your score?
BUSINESS
By Eileen Ambrose | April 21, 2002
MISS CREDIT payments frequently and it may cost you more than interest charges and late fees. It can hurt your scores. Using credit reports, companies have designed many types of ratings that try to predict a consumer's behavior. Mortgage lenders and credit-card companies are among those that use scores to help decide interest rates or other terms they may offer you. There are scores to predict if you'll pay your debts. Scores that assess the likelihood of bankruptcy. Scores that indicate if you'll generate fees and interest for credit-card companies.
BUSINESS
By KENNETH HARNEY | July 15, 2001
YOU'VE PROBABLY heard or read that American mortgage applicants now have ready access to credit scores - those once-secret, triple-digit numbers that label applicants as either a good or a poor financial risk. But you may not have heard of a fast-growing trend that can dramatically improve your loan prospects almost overnight: "rapid rescoring." This is a service now offered by dozens of local credit reporting agencies around the country that allows mortgage loan officers to request a rescoring of applicants' credit files at each of the three giant credit repositories - Equifax, Experian and Trans Union.
BUSINESS
By KENNETH HARNEY | March 25, 2001
WANT TO know your score? Now you can have it. And better yet, you can understand it. Kept secret from homebuyers and mortgage applicants for years, individual credit scores became readily available for the first time this week. Last Monday, the developer of the dominant credit scoring system - Fair, Isaac & Co. - teamed live online with giant credit bureau Equifax to provide FICO scores and other personal credit information to consumers nationwide. FICO scores are what the vast majority of American mortgage lenders use to evaluate home loan applicants' creditworthiness.
BUSINESS
By KENNETH HARNEY | March 25, 2001
WANT TO know your score? Now you can have it. And better yet, you can understand it. Kept secret from homebuyers and mortgage applicants for years, individual credit scores became readily available for the first time this week. Last Monday, the developer of the dominant credit scoring system - Fair, Isaac & Co. - teamed live online with giant credit bureau Equifax to provide FICO scores and other personal credit information to consumers nationwide. FICO scores are what the vast majority of American mortgage lenders use to evaluate home loan applicants' creditworthiness.
BUSINESS
By CBS MarketWatch | June 13, 2004
If you have a mortgage that has not been paid off, that isn't a black mark on your credit score. Experian Consumer Direct, one of three credit agencies that analyze and score credit, found the average credit score for consumers with at least one current mortgage is 716 - better than the 667 grade scored by people without a mortgage. Credit scores rate your financial status on a scale of 300 to 800. (Higher is better.) Lenders rely on them to analyze credit risk and determine interest rates.
BUSINESS
November 22, 1996
HCIA, the Baltimore health data company, announced yesterday that it is buying Equifax Health Analytical Services for $11.5 million in cash.The analytical services unit, based in Rochester, N.Y., was formed in 1984 when Atlanta-based Equifax Inc. bought HealthChex Inc. Equifax Inc. is a large credit-reporting firm that moved into health data a few years ago, but it recently announced it is getting out of that business. It announced sales of another health-related unit this month and yet another in September.
BUSINESS
By Kenneth R. Harney | March 26, 1995
Washington -- Call it paternalistic. Call it intrusive. Or call it a smart business practice that should ultimately expand the number of Americans who can hold on to their homes, even when their credit gets stretched.Whatever you call it, it's fast heading for reality in the home loan arena: Mortgage companies are turning to sophisticated mathematical scoring techniques that "tag" you once you've gone to closing and start making your monthly payments.Depending on your score -- which you're never likely to see -- you can expect to get markedly different treatment when and if you fall behind on your payments.
Baltimore Sun Articles
|
|
|
Please note the green-lined linked article text has been applied commercially without any involvement from our newsroom editors, reporters or any other editorial staff.