What is Equifax Mortgage Services?
Equifax Mortgage Services is a specialized division of Equifax, one of the three major credit reporting agencies in the United States. This specialized division focuses on offering various mortgage-related services and products to lenders, mortgage service providers, and consumers. These services are designed to help lenders assess creditworthiness and to streamline the mortgage application process for all parties involved.
Why is Equifax Mortgage Services on my credit report?
Equifax Mortgage Services can appear on your credit report due to a hard inquiry, which typically occurs when you apply for a mortgage. Lenders use this service to assess your creditworthiness before deciding whether to approve your loan application.
Equifax Mortgage Services may also appear on your credit report as ‘EMS‘, ‘Equifax MTG’, ‘Equifax Mortgage Servi’, ‘EMS LACS‘, or ‘EMS Atlanta’.
Understanding Hard and Soft Inquiries
What is a hard inquiry?
A hard inquiry happens when a lender or creditor runs a credit check as part of your application for new credit. This can include mortgage applications, car loans, credit cards, insurance policies, cell phone contracts, and even certain job applications.
Although hard inquiries typically only lower your credit score by a few points, having too many in a short period can accumulate and cause significant damage to your credit score.
What is a soft inquiry?
A soft inquiry typically takes place when a company conducts a background check or when a credit card issuer or lender prequalifies you for an offer. Existing creditors may also initiate soft inquiries to monitor your current credit situation. Unlike hard inquiries, soft inquiries do not impact your credit scores.
How long do hard inquiries stay on your credit report?
Regardless of whether your mortgage application is approved, the hard inquiry remains on your credit report for up to 2 years. Each inquiry is recorded by one or more of the three major credit reporting agencies: Equifax, Experian, and TransUnion.
Addressing Unauthorized Inquiries
If you find an unfamiliar inquiry or are confident that you did not initiate it, contact Equifax Mortgage Services immediately to inquire about the reason for the inquiry. The creditor’s name should be listed under the hard inquiry section on your credit report.
EMS Contact Information
Equifax Mortgage Services
One E. 22nd St. #620
Lombard, IL 60148-4984
Phone number: (800) 374-2179
Can Equifax Mortgage Services be removed from my credit report?
Lexington Law is a reputable credit repair company that specializes in removing inquiries and other negative marks from your credit report. With over 18 years of experience, they achieved more than 6 million removals for their clients in 2021 alone.
They can also help you dispute and potentially remove items such as late payments, collections, charge-offs, foreclosures, repossessions, and bankruptcies.
Get Started Today
If you need assistance from a reputable credit repair company to help improve your credit, consider working with Lexington Law. They have a proven track record of helping individuals in similar situations.
Visit their website and fill out the form to learn more about their services and how they can help you.
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