Reading the Borrower Credit Report
Most note investors know they need to check the property — but for a second lien holder, the borrower's credit report tells you more about your risk.
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What you'll learn:
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How the current address on a credit report gives you a first read on whether the borrower is living in the property
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What the senior lien trade line shows you — and why the reported date determines whether any of it matters
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How to read a payment string and what the difference between rolling and delinquent means for your resolution outlook
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What a FICO score, employment details, and other trade lines tell you about a borrower's ability and willingness to pay
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Why a tri-merge credit report pulling from all three bureaus gives you the most complete and reliable picture
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