• Wisconsin DFI mortgage banking complaint page 
  

Credit and homeownership counseling resources

Encourage homebuyers, especially first-time homebuyers and homebuyers with no credit history or a marginal credit standing, to attend credit-counseling classes. Buyers who are educated about the basics of consumer credit and mortgage loans are less likely to be tricked by unscrupulous lenders. They will be more likely to shop around for the lender and the mortgage that best meets their needs. Find Wisconsin counseling services below:

• HUD-approved Housing Counseling Agencies in Wisconsin
• National Association for Credit Counseling
• Wisconsin DFI directory of credit counseling services  

Financial literacy information for consumers

• MyMoney.gov 
• FDIC consumer protection

Homebuying resources

• Wisconsin DFI homebuying glossary page 
• Wisconsin DFI consumer homebuying booklet 
• Department of Housing and Urban Development brochure: "Looking for the Best Mortgage"   

REO transactions

• Information for buyers about bank (foreclosure) property

Foreclosure prevention

• Homeownership Preservation Foundation
• Making Home Affordable

Reverse mortgages

• AARP's reverse mortgage resource page   
• Wis. Stat. § 138.058

Credit reports and credit score resources

Buyers should be encouraged to find out their credit score and obtain a copy of their credit report from a national credit reporting agency. Credit scores are based on an individual's credit report information and are used to predict whether consumers will make their payments on time.

The Fair and Accurate Credit Transactions Act (FACT Act) was signed into law in December 2003. The FACT Act, a revision of the Fair Credit Reporting Act, allows consumers to get one free comprehensive disclosure of all of the information in their credit file from each of the three national credit reporting agencies once every 12 months through a central source.

• FTC information about free credit report access 
• Obtain free annual credit report

Additional credit reports and scores cost $9.50. When these reports are ordered online with a credit card, the consumer generally will receive the report immediately; this is the method preferred by these companies. Some will allow some reports and scores to be ordered by telephone or mail, which will take longer before receiving the desired information..

• Equifax provides credit reports and credit scores: 800-685-111.
• Experian (formerly TRW) provides credit reports and credit scores: 888-397-3742.
• TransUnion provides credit reports and credit scores: 800-888-4213 .
  Consumers may request a copy of their TransUnion Personal Credit Reports & Scores by writing to TransUnion LLC, Consumer Disclosure Center, P.O. Box 1000, Chester, PA, 19022.
• Consumers can obtain their FICO credit scores and credit reports from www.myfico.com.

Predatory lending resources 

• Federal Trade Commission (FTC) home equity scams

WRA homebuyer handouts

REALTORS^® can distribute these handouts to the buyers they work with.

• Predatory lending consumer brochure  

Milwaukee partnership to stop predatory lending practices

The Milwaukee Fair Housing Counsel and its partners have begun an initiative to identify and eliminate predatory lending practices. The Strategies to Overcome Predatory Practice (STOPP) coalition will combat predatory lending by outreach, education, research, financial options and enforcement in Milwaukee County. Predatory lending involves practices such as charging borrowers excessive rates and fees, refinancings with high points and fees, and lender failure to disclose all financing costs. Borrowers and potential borrowers may call the coalition's consumer line at 414-278-9190 for advice and help.