What is Factual Data On My Credit Report?

Factual Data appears on your credit report when you apply for a mortgage. Understanding what it is can help you protect your credit score.

You have the power to dispute errors and improve your creditworthiness. Here’s everything you need to know.

Rebuild Your Credit While Disputing Errors

Don't wait for disputes to resolve before improving your credit score. Start building positive credit history today while you work to remove inaccurate Factual Data information from your report.

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What is Factual Data?

Factual Data is not a debt collector. It’s a credit reporting company that serves mortgage lenders.

The company specializes in providing credit data to mortgage companies. They handle the credit check process so lenders don’t have to.

Factual Data provides several services during the mortgage application process:

Prequalification soft inquiry reports
Hard inquiry credit reports
Ongoing debt monitoring

When you apply for a mortgage, lenders need to check your credit. They use that information to determine your loan eligibility.

Many mortgage companies hire Factual Data to handle credit reporting. Building strong credit before applying can improve your chances of approval.

Who Does Factual Data Work With?

Factual Data partners with more than just mortgage lenders. They also work with rental companies to screen tenants.

The company uses DataVerify to secure income and employment verification. DataVerify also checks identity information including OFAC, SSA, and SSN databases.

DataVerify provides comprehensive screening including:

Credit reports
Employment and income history
Property information
Debt information
Date of birth verification

Factual Data also uses AmRent as a tenant screening service. AmRent combines proprietary databases with outside information to evaluate potential tenants.

AmRent reports include criminal records, eviction data, identity verification, and credit reports.

What Others Say About Factual Data

Consumer reviews of Factual Data are mixed. You can find reviews on Google Reviews and the Better Business Bureau.

Mixed reviews shouldn’t stop you from taking action on credit errors. Proactive communication with credit reporting agencies is essential.

You have legal rights that protect you from inaccurate credit reporting.

Your Legal Rights Under the FCRA

Your credit report affects your ability to get approved for mortgages and rentals. Congress enacted the Fair Credit Reporting Act to protect consumers.

The FCRA gives you powerful protections:

Credit reporting agencies must ensure information is accurate and up-to-date
You can request a copy of your file from any reporting agency
Companies must tell you if they denied you based on credit information
You can request your credit score from consumer agencies
Negative information over seven years old cannot be reported
Bankruptcies over ten years old must be removed
Employers need written consent to access your credit report
You have the right to dispute errors on consumer reports
You can sue credit reporting agencies that report false information

Errors on your credit report can lead to mortgage denials. You must act quickly to dispute inaccuracies.

How Factual Data Inquiries Affect Your Credit

Factual Data inquiries appear on your credit report when mortgage lenders check your credit. Hard inquiries can lower your credit score.

You should dispute any inquiry you don’t recognize. Unauthorized inquiries can damage your creditworthiness unnecessarily.

Failing to remove incorrect inquiries could result in higher insurance premiums. You might also pay higher interest rates on loans and credit cards.

Our partner Kikoff can help you build credit while you dispute inaccurate information.

How to Dispute Errors on Your Factual Data Report

Factual Data provides merged credit reports and CreditIQ reports from CoreLogic. These reports should be accurate, but errors are common.

The FCRA requires consumer reporting agencies to maintain accurate, up-to-date information. You must take immediate action when you discover errors.

The FCRA gives you the right to dispute errors. Credit reporting agencies have 30 days to investigate your dispute.

They must make corrections if your dispute is valid. If they fail to act, you may have grounds for a lawsuit.

File disputes with these three main credit bureaus:

Include documentation that supports your dispute. Clear evidence increases your chances of success.

Strategies for Negotiating Debt Settlement

Settling debt can save you money and protect you from judgments. You can improve your credit score by resolving outstanding debts.

Follow these steps to negotiate effectively:

File a timely Answer if you’ve been served with a debt collection lawsuit
Calculate what you can afford using this formula: Amount available = (monthly income – monthly costs) + savings
Contact the debt collector with an opening offer below your maximum
Expect multiple rounds of negotiation and counteroffers
Get the final settlement agreement in writing before paying

Never agree to terms you cannot afford. Debt collectors often accept less than the full balance.

A settled debt looks better on your credit report than an unpaid judgment. You can start rebuilding your credit immediately after settlement.

Taking Legal Action Against Factual Data

You can sue Factual Data if their errors caused you economic harm. The FCRA gives you the right to file a civil lawsuit in federal court.

You may also have grounds to sue companies that used inaccurate Factual Data information against you. Document all damages you suffered from credit report errors.

Common damages include denied mortgages, higher interest rates, and lost rental opportunities. Keep records of all communications and financial impacts.

Consider consulting an attorney who specializes in FCRA violations. Many work on contingency, meaning you don’t pay unless you win.

Your Action Plan for Beating Factual Data Errors

You have multiple options when Factual Data incorrectly damages your credit. Take action immediately to protect your financial future.

Start by understanding your rights under the FCRA. Knowledge is your most powerful tool against credit reporting errors.

File disputes with all three credit bureaus for maximum impact. Each bureau maintains separate records and must investigate independently.

Consider legal action if disputes don’t resolve the errors. You deserve accurate credit reporting.

Focus on building positive credit history while resolving disputes. Good credit habits will strengthen your score over time.

Frequently Asked Questions

What is Factual Data and why is it on my credit report?

Factual Data is a credit reporting company that mortgage lenders hire to check your credit during the application process. They appear on your report when a lender uses their services to pull your credit information for a mortgage or rental application.

How do I dispute errors on my Factual Data credit report?

File disputes directly with the three major credit bureaus: Equifax, TransUnion, and Experian. Include documentation supporting your claim. The bureaus have 30 days to investigate and must correct validated errors.

Can Factual Data inquiries hurt my credit score?

Yes, hard inquiries from Factual Data can temporarily lower your credit score. You should dispute any inquiries you don't recognize or that were unauthorized, as they can negatively impact your creditworthiness and lead to higher interest rates.

What rights do I have under the FCRA regarding Factual Data?

The Fair Credit Reporting Act gives you the right to accurate credit reporting, the ability to dispute errors, access to your credit file, and the option to sue credit reporting agencies that report false information causing you harm.

Can I sue Factual Data for credit report errors?

Yes, you can file a civil lawsuit against Factual Data in federal court if their errors caused you economic harm, such as a denied mortgage or higher interest rates. You may also be able to sue companies that used the inaccurate information against you.