What is EMS?
EMS stands for Equifax Mortgage Services/Solutions, a division of Equifax, one of the three major credit bureaus in the United States. EMS specializes in providing credit reporting and risk management services to mortgage lenders, helping them make informed decisions when extending credit to potential borrowers.
Why is EMS on your credit report?
Equifax Mortgage Services may appear on your credit report as a hard inquiry. When you apply for a mortgage, the lender needs to assess your creditworthiness, and they rely on Equifax to provide your credit report. EMS manages these requests on behalf of Equifax, conducting the necessary checks and supplying the lender with the required information. You might also see this inquiry under different names, such as ‘Equifax MTG,’ ‘Equifax Mortgage Servi,’ ‘EMS LACS,’ or ‘EMS Atlanta.’
The Impact of Hard Inquiries by EMS on Your Credit Score
A hard inquiry like the one from EMS can slightly lower your credit score. While one or two inquiries might only cause a minor dip, multiple hard inquiries within a short time can have a more substantial impact, making you appear as a higher-risk borrower to potential lenders.
How Long EMS Hard Inquiries Stay on Your Credit Report
Hard inquiries from EMS will remain on your credit report for up to two years, regardless of whether your mortgage application is approved or denied. These inquiries are recorded by major credit bureaus—Equifax, Experian, and TransUnion—and gradually lose their impact on your credit score over time.
Tips for Managing Hard Inquiries Like EMS on Your Credit Report
To minimize the effect of hard inquiries on your credit score, consider the following strategies:
- Space Out Credit Applications: Avoid applying for multiple credit products in a short period.
- Compare Loans Within a Short Timeframe: When shopping for a mortgage, submit all your applications within 14–45 days. Credit scoring models may count multiple inquiries for the same type of loan as a single inquiry if done within this window.
Monitoring and Removing Unauthorized EMS Inquiries
Regularly review your credit reports to catch any unauthorized inquiries or errors. You’re entitled to a free annual credit report from Equifax, Experian, and TransUnion. If you find an unauthorized inquiry, you can dispute it with the credit bureaus.
If you need help with removing EMS or other negative items from your credit report, consider reaching out to a credit repair company like Credit Saint. They specialize in disputing and potentially removing various negative items, including:
- late payments
- collections
- charge offs
- foreclosures
- repossessions
- bankruptcies
Take Action to Improve Your Credit
When it comes to repairing your credit, Credit Saint has the expertise to assist individuals in situations similar to yours. To explore their services and find out how they can help you, visit their website and complete the inquiry form. Taking this step could be the beginning of a journey towards a better credit score and improved financial opportunities.
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