Date: Fri, 13 Oct 2006 16:36:46 -0500
From: "emailforian@gmail.com" 
Newsgroups: misc.invest.financial-plan
Subject: Re: Higher income = higher credit score?
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Sgt.Sausage wrote:
>  wrote in message
> news:1160683659.300294.199220@i42g2000cwa.googlegroups.com...
> >
> >> I don't think they'd even know income. How, exactly, other
> >> than obtaining your private IRS tax forms, would they even
> >> begin to know your income?
> >
> > That's an easy one to answer:  When you apply for a mortgage or a car
> > loan (and other types of loans), you are asked to provide your income.
>
> Well ... yeah. That's the *mortgage company* asking you
> for your income (and supporting docs) that you are agreeing
> to supply them.
>
> My question still stands: How, exactly, other than obtaining your
> private IRS tax forms would they [THE CREDIT REPORTING
> AGENCIES -- NOT THE MORTGAGE COMPANY]
> even begin to know your income.
>
> > Therefore, this information is available to lenders, who in turn report
> > to the credit reporting agencies.
>
> Not without your permission or authorization, which is not
> a common request on anything I've ever signed with a
> mortgage company.
>
> >  I am NOT saying that lenders always
> > or routinely report income to the credit reporting agencies (I don't
> > know one way or the other), but, that is one way that they would or
> > could know.
>
> Again, not without your authorization.
>

I don't know that creditors need your authorization to report
information to the credit agencies?  Where is that written?

And even if they do, it may be buried in the fine print of the
documents that you sign to get the loan.  I have yet to talk to anyone
who reads every line of every document they sign (even though they
should).