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abdonis

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Is it possible for a private lender to report ontime mortgage payments on my credit report?

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Well, it depends.  We're a small company and we used to report only to Experian, because they don't have quite as many requirements as the other bureaus.  But, the deal is, they have to have at least 300 accounts to report, and they usually have to pay a fee every month to each bureau they report to.  There is no law stating a creditor has to report, because some just can't afford it.  TransUnion was a nightmare to start reporting to, the contract they sent was the size of a coffee table.  Equifax was a bit easier, but I think they required at least 500 accounts or didn't want to be bothered.  It's a crazy system.

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