New Freddie Mac Guidelines Regarding Credit History, Authorized Users and Mortgage Approval
By Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi, 708.921.6331 - 40+ yrs experience
(NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656)
New Freddie Mac Guidelines Regarding Credit History, Authorized Users and Mortgage Approval Recently, Freddie Mac updated their underwriting guidelines, via its "Bulletin" from September 19, 2018 ... One of the key points documented in this Freddie Mac Bulletin related to Credit Reporting and specifically ... "AUTHORIZED User Accounts". Before proceeding further, it's important to know the definition and role of an Authorized User, as per the 3 major Credit Bureaus. An "Authorized User" (as defined by Equifax) is: In a nutshell, being an authorized credit card user means someone has authorized you to use their credit card account. If you’re added to a credit card account as an authorized user, you will receive a credit card in your name, linked to the primary account owner’s accoun...
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