Glossary-m 2017-10-17T17:01:23+00:00

Glossary M

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M & T Bank on credit report

What does M & T Bank on a credit report mean?
Finding M & T Bank on a credit report means the individual owes a debt or has an account with M & T Bank.

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M&I Home Lending

What is M&I Home Lending?
M&I Home Lending solutions assist brokers in the process of home lending for residences in Urbandale.

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Manufacturers & Traders Trust Company

What is the Manufacturers & Traders Trust Company?
The Manufacturers & Traders Trust Company or M & T Bank is an American commercial bank founded in 1856.

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Marshall and Ilsley Bank on credit report

What does Marshall and Ilsley Bank on a credit report mean?
When a consumer finds Marshall and Ilsley Bank on a credit report, it means they owe a debt or have an account with Marshall and Ilsley Bank.

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Maxed Out

What is Maxed Out?
Maxed Out means a consumer has reached their credit limit on a credit card and can no longer pay for anything with the card.

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Medical bills

What are medical bills on my credit report?
Medical bills are a classification of any bill owed to a doctor, hospital or other medical company listed on a credit report.

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Medical bills affect on credit

What does medical bill’s effect on credit mean?
The only way Medical bills have an affect on your credit score is when they show up as a collection on your credit report either by a 3rd party collection company or the original creditor.

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Medical Collections on credit report

What are Medical Collections on a credit report?
Medical Collections on a credit are any bills sent to collection due to lack of payment, which are owed to a medical company, such as a hospital or doctor. The collections can be handled and reported within the medical office, but typically it is sold to a 3rd party to collect who will then report it to your credit report if no payment is made.

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Mellon Bank on credit report

What does Mellon Bank on a credit report mean?
When a consumer finds Mellon Bank on a credit report, it means they hold or held an account with Mellon Bank.

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Merged Credit Report

What is a Merged Credit Report?
A Merged Credit Report is a credit report with information from all three of the major credit reporting bureaus.

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Merrill Lynch Bank & Trust Co. on credit report

What does Merrill Lynch Bank & Trust Co. on a credit report mean?
When Merrill Lynch Bank & Trust Co. is found on a credit report, it means the individual owes a debt to or has an account with Merrill Lynch Bank & Trust Co.

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Merrill Lynch Bank USA on credit report

What does Merrill Lynch Bank USA on a credit report mean?
If Merrill Lynch Bank USA is listed on a credit report, it means the individual holds or held an account with Merrill Lynch Bank USA.

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MG Credit

What is MG Credit?
MG Credit is a collection company with over 30 years of experience in the industry.

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Midland Cred – Midland Credit Management on credit report

What does Midland Cred or Midland Credit Management on a credit report mean?
When Midland Cred or Midland Credit Management is found on a credit report, it means a debt has been sent to collections and Midland Credit Management is the company responsible for collecting the debt.

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Minimum Payment

What is a Minimum Payment?
The Minimum Payment is the smallest amount a debtor can pay to keep the account current.

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Mission Federal Credit Union on credit report

What does Mission Federal Credit Union on a credit report mean?
When a consumer finds Mission Federal Credit Union on a credit report, it means they owe a debt or hold an account with Mission FCU.

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Monthly Periodic Rate

What is the Monthly Periodic Rate?
The Monthly Periodic Rate is the interest rate factor used to calculate monthly interest charges. It’s found by dividing the yearly rate by 12.

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Morgan Stanley Bank on credit report

What does Morgan Stanley Bank on a credit report mean?
If Morgan Stanley Bank shows up on a credit report, it means the individual holds an account or owes a debt to Morgan Stanley Bank.

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Mortgage

What is a Mortgage?
A Mortgage is a loan secured by real estate, in which the debtor borrows money to buy the home according to the guidelines set forth by the creditor.

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Mortgage Banker

What is a Mortgage Banker?
A Mortgage Banker specializes in originating, processing and servicing mortgage loans for borrowers.

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Mortgage Broker

What is a Mortgage Broker?
A Mortgage Broker is an individual or company acting as an intermediary between the borrower and a mortgage lender.

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Mortgage Calculator

What is a Mortgage Calculator?
A Mortgage Calculator is a calculator used to figure out potential mortgage payments and other calculations for the real estate and mortgage industry.

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Mortgage Credit Certificate

What is a Mortgage Credit Certificate?
A Mortgage Credit Certificate or MCC is a certificate provides by the originating mortgage lender that directly converts some of the mortgage interest paid into a non-refundable tax credit.

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Mortgage Identification Number (MIN)

What is a Mortgage Identification Number?
A Mortgage Identification Number is an assigned number to a mortgage for registration with the MERS or Mortgage Electronic Registration System. It’s used as identification for the life of the mortgage.

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Mortgage Interest Expense

What is Mortgage Interest Expense?
Mortgage Interest Expense is a tax term for the amount of interest paid on a loan that is fully deductible.

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Mortgage Refinance

What is a Mortgage Refinance?
A Mortgage Refinance is a replacement of an existing mortgage with a debt obligation under new terms. Refinancing allows borrowers to take advantage of lower interest rates or cash out home equity.

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Mortgage Shopping

What is Mortgage Shopping?
Mortgage Shopping is comparative shopping to find the best mortgage deal including interest rate and closing costs.

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Most Recent Date

What is the Most Recent Date?
Also known as the balance date, the Most Recent Date is the date of the most recent payment status or account condition.

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Mountain America Federal Credit Union on credit report

What does Mountain America Federal Credit Union on a credit report mean?
When Mountain America Federal Credit Union is found on a credit report, it stands for a debt or account with Mountain America FCU.

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Municipal Credit Union on credit report

What does Municipal Credit Union on a credit report mean?
If Municipal Credit Union is found on a credit report, it represents any account or debt owed to Municipal Credit Union by the individual.

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