Your Credit Report

Credit 101

Find out how credit works. Any why it matters.

Take a few minutes to understand the role credit plays in the home financing process.

As part of the application process, we will check your credit by ordering a credit report. Your credit report is a record of how well you have managed your finances in the past with credit cards, car loans, student loans and more.

How to get your credit report

The Fair and Accurate Credit Transactions Act (FACTA) allows you to request a free credit report once every 12 months from each of the 3 credit reporting agencies.

What to look for on your credit report

It’s important to review your credit report and clear up any errors or unresolved negative issues by contacting the credit lender. These include:

  • A credit limit that is lower than what your billing statement shows
  • Accounts that are not yours but appear on your credit report
  • Open accounts you thought were paid off or bills that show delinquencies
  • Inaccurate information that can be removed by your credit provider

Next: Your Credit Score

Mortgage 101

There are three top national credit reporting bureaus or agencies: TransUnion, Experian, Equifax. Banks and lenders typically contact the “Big Three” to check your credit. Each bureau, or agency, independently reports information on you. That information is combined to create one complete credit report.

Credit FAQs

Can I refinance if I've had "bad credit" in the past?

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Possibly. Your credit score is only one of the factors taken into account when you apply for a refinance loan. We also look at your employment history, income, debt and cash reserves.

Does ditech report to credit agencies?

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Yes, we report to credit agencies Equifax, Experian, Trans Union and Innovis on a monthly basis. For more information, please contact the credit agency directly.

How does my loan with ditech affect my credit bureau report?

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ditech provides Equifax, Experian, Trans Union and Innovis with loan information every month. We provide accurate information based on account records. If you suspect an error on your credit report, please contact the appropriate Credit Bureau Agency for resolution information. You may also send credit report disputes in writing to ditech Customer Service. Include your ditech account number (if applicable), name, and any additional supporting documentation to support your position. Supporting documentation may include cancelled checks, bank statements, copies of credit reports, or any other pertinent information for further review. Upon receipt, our Customer Service department will research the dispute and respond accordingly.

If we are responsible for errors to your credit report, we are committed to correcting them quickly.  However, please understand that we are unable to request credit bureau changes as a courtesy to our borrowers or to improve credit ratings.

I need a verification of mortgage. Can you help?

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Yes, we can help you with this. Please mail a written request for a Verification of Mortgage to:

Ditech Account Processing
P.O. Box 15009
Tempe, AZ 85284-0109

We will send you a Verification of Mortgage document for your records.

What do I need to do if there are errors on my credit report?

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If you suspect an error on your credit report, please contact the appropriate Credit Bureau Agency for resolution information.

Credit report disputes may also be sent in writing to ditech Customer Service. Include your 9-digit ditech account number (if applicable), name and any additional supporting documentation to support your position. Upon receipt, our Customer Service department will research the dispute and respond accordingly.

Will I be turned down for a loan if I’ve had credit problems?

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Not necessarily. Your credit score is only one of the factors taken into consideration when you apply for a home loan. We also review your employment history, income, debt and cash reserves.

Current Loan Rates
Program Rate APR
15 Year Fixed 3.125% 3.375%
FHA 30 Year Fixed 3.25% 4.595%
30 Year Fixed 3.75% 3.934%
About these rates

Our Hours

Monday - Friday8am - 9pm ET

Saturday8am - 5pm ET

Sunday*1pm - 5pm ET

*Sunday Hours: Home Loan Specialists available for new loan applications only. Associates are not available for questions about existing accounts or applications in progress.

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