What are the consumer credit bureau rating services used for?

Arya,

it is nothing but credit score which is primarily being used to evaluate credit strength & history of borrower.

Check this post,

http://www.mortgagefit.com/credit-scoring.html

This will help

Good luck and feel free to ask

There are several US companies which provide "consumer credit bureau rating services" to lenders to assess particular borrowers for there credits.

There are three major Credit Bureau rating service provides are as below-
1) Experian
2) Equifax
3) TransUnion

Also there is secrate credit bereau company in US called as Innovis.
This is fourth company.

All credit reporting companies collect and analyse the credit report of borrowers and they extarct fico as lenders takes decison on this for the approval of loan.
Borrower uses credit score for allpy for loan and lenders uses the FICO score to determine risk of that loan.credit score reportng services are paid and credit report can get free of cost once in year from each credit reportng company.

One can use these credit bereau comapany report to clean up wrong items and improve your credit. Thus they are very much benefited for borrower.

thus all these companies plays vital roll in the mortgage process.

US credit reporting companies provide consumer credit bureau rating services to lenders to assess particular borrowers - if they are good or bad risk.

i'm so glad we could reach a consensus on this topic. :?