Credit Inquiry Factual Data: What It Means for Your Score
Factual Data entries appear on your credit report when you apply for mortgages or rental properties. Hard inquiries from Factual Data can drop your score by about 5 points, but you can dispute unauthorized or inaccurate entries. Monitor your credit regularly and complete mortgage shopping within 14 days to minimize score damage.
Dispute Your InquiryYou check your credit report and spot unfamiliar Factual Data entries. You wonder what happened.
If you see Factual Data on your credit report, you recently applied for a home loan. Landlords sometimes use Factual Data to screen rental applicants too.
Facing an Unauthorized Credit Inquiry?
Unauthorized Factual Data entries damage your credit score and may violate your FCRA rights. Our partner Solo helps you respond to credit disputes and validate questionable debts on your report.
Respond to InquirySomeone might have stolen your identity if you did not apply. You can dispute the issue with the three credit bureaus.
We will explain why Factual Data appears on your credit report. You will learn how it affects your score and how to remove it.
What Is Factual Data?
Factual Data Corp operates as a consumer credit reporting agency for mortgage lenders. The company provides accurate credit checks for the home lending industry.
Mortgage lenders trust Factual Data to assess borrower creditworthiness during applications. The company merges credit reports from all three major credit bureaus.
You get a comprehensive view of your credit history. You can request a free copy of your credit report:
- Mailing Address: PO Box 530090, Atlanta, GA 30353
- Phone Number: (877) 237-8317
- Website: factualdata.com/consumer-assistance
Where Does Factual Data Get Your Information?
Factual Data pulls information from Equifax, TransUnion, and Experian. The company combines these reports into one document for lenders.
Your creditors report payment defaults to the three credit bureaus. Factual Data includes this information in their merged report.
Factual Data does not calculate your credit score. The company simply compiles existing information from your reports:
- Total amount owed
- Types of credit used
- Number of inquiries
- New credit requested or approved
- Length of credit history
- Payment history
Factual Data sends the compiled information to your mortgage lender. The lending company calculates your credit score using the FICO scoring model.
How Factual Data Inquiries Affect Your Credit Score
A Factual Data credit inquiry can be hard or soft. Hard credit inquiries drop your score, while soft inquiries cause minimal change.
Mortgage lenders typically perform hard credit inquiries for home loans. Your credit score drops by about 5 points or less, according to Experian.
Multiple hard inquiries cause a more noticeable drop. You can minimize damage by completing your mortgage shopping within 14 days.
Credit checks within this timeframe count as a single inquiry. You protect your score while comparing lender offers.
Lenders must get your authorization before performing hard inquiries. An unauthorized Factual Data hard inquiry violates your Fair Credit Reporting Act rights.
You can take action if Factual Data does not remove unauthorized entries. Contact the company first to resolve the issue.
How to Remove Factual Data From Your Credit Report
An inaccurate hard inquiry damages your score more than legitimate checks. You have several options to remove Factual Data entries.
Dispute the Hard Inquiry
You can dispute entries you did not authorize. The FCRA allows disputes for inaccurate information too.
Contact Factual Data first to request your full report. Ask for an explanation once you confirm the entry is wrong.
File a dispute with all three credit bureaus online, by phone, or mail. The bureaus have 30 days to investigate your claim.
Credit bureaus remove entries they confirm as inaccurate or fraudulent. You can work with our partner Solo to strengthen your dispute.
Consult a Credit Repair Company
Fighting credit errors alone can overwhelm you with multiple issues. Credit repair companies address problems from a specialized position.
These companies remove wrongful entries and fix other credit problems. They handle collection entries, faulty reporting, judgments, liens, and late payments.
Monitor Your Credit Regularly
Identity theft cases continue to rise every year. You need to monitor your score regularly to catch errors early.
Regular monitoring helps you address wrongful entries before major damage occurs. You can monitor yourself or hire a credit monitoring agency.
You should dispute debts you do not recognize immediately. Request debt validation from the creditor to verify ownership.
Attach your debt validation request as proof to credit bureaus. Document everything to strengthen your dispute case.
Protect Your Credit From Unauthorized Inquiries
Unauthorized credit inquiries signal potential identity theft or reporting errors. You should act quickly when you spot them.
Check your credit reports from all three bureaus regularly. You get one free report from each bureau annually.
Freeze your credit to prevent unauthorized applications in your name. Unfreeze temporarily when you need to apply for credit.
Set up fraud alerts with credit bureaus if you suspect identity theft. Alerts notify you when someone applies for credit using your information.
Keep records of all authorized credit applications you submit. Compare these records with inquiries on your credit reports.