Fair Credit Reporting Act at Mortgage Glossary

What is it? A federal law passed in 1971 that regulates the activity of credit bureaus. It is designed to prevent inaccurate or obsolete information from staying in a consumers credit file and requires credit bureaus to have reasonable procedures for gathering, main

Mortgage Dictionary Term Added By: Brody

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Other Similar Mortgage Terms:

Mortgage Term Holdover Tenancy is A tenancy whereby a lessee retains possession of leased property after the lease has expired and the landlord, by continuing to accept rent, agrees to the tenants continued occupancy as defined by state law.

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Mortgage Term Bankrupt is A person, firm, or corporation that, through a court proceeding, is relieved from the payment of all debts after the surrender of all assets to a court-appointed trustee.

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