What guy hasn’t wanted to usher a gal through to a club like Ray Liotta did, masterfully filmed without cutting away? Unfortunately, breaking the spell of the video, I received this note. “Rob, what have you heard regarding a miscalculation of credit scores by Equifax in late March and early April on a sizeable portion of their pulls?” I have indeed heard rumors, and indeed heard rumors that it potentially impacted thousands of borrowers across the United States, possibly influencing the loan programs and pricing that those borrowers received. Something to do with a coding issue introduced during a technology change to Equifax’s legacy online model platform (OMS) possibly resulting in the potential miscalculation of certain credit attributes. Given the seriousness of these rumors, and the potential legal implications of an error of this magnitude, you should definitely reach out and ask Equifax, or ask your credit reporting agency for more information. But hey, it’s Friday before a 3-day weekend. Who wants to work? Yes, after Monday you’ll be able to wear white shoes and be fashionable. So spend 5 minutes taking one of my favorite quizzes focused on figuring out where you’re from based on the words you use for certain common things. (What do you call the little bug that rolls up into a ball when you touch it?) It’s uncanny! (Today’s podcast is available here and this week’s is sponsored by Matchbox LLC, igniting ideas for the mortgage industry. Expertise in assisting clients through transition periods with Technology, Capital Markets, and Education.)

Published On: May 27, 2022 / Categories: Mortgage News /