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SafeRent

What is SafeRent?
The term SafeRent refers to a company called First Advantage SafeRent. This is a Rockville, Maryland company providing clients with a scoring model and information necessary to make the decision about a potential tenant.

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Sallie Mae

What is Sallie Mae?
Sallie Mae, also known as SLM Corporation, is a publicly traded corporation providing educational loansthroughout the United States. This company purchases student loans from other lenders and provides financing for state student loan agencies.

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San Antonio Federal Credit Union on credit report

What does San Antonio Federal Credit Union on a credit report mean?
When San Antonio Federal Credit Union is found on a credit report, it represents an account with San Antonio Federal Credit Union, usually a loan or credit card.

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San Diego County Credit Union on credit report

What does San Diego County Credit Union on a credit report mean?
If a consumer finds San Diego County Credit Union on their credit report, they have or had a loan or account with San Diego County Credit Union.

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SARMA – Security Analysis and Risk Management Association

What is SARMA or Security Analysis and Risk Management Association?
SARMA or Security Analysis and Risk Management Association is a non-profit professional trade association helping to analyze and manage security risks.

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Satisfied public record – Satisfied judgment

What is a Satisfied public record or Satisfied judgment?
A Satisfied public record or Satisfied judgment is usually found on a credit report and represents a judgment or public record paid in full or paid satisfactory.

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Schoolsfirst Federal Credit Union on credit report

What does Schoolsfirst Federal Credit Union on a credit report mean?
Finding Schoolsfirst Federal Credit Union on a credit report means the individuals has or had an account with Schoolsfirst Federal Credit Union, usually a credit card or loan.

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Schumer Box

What is Schumer Box?
Schumer Box is a chart used to explain the fees, rates, terms and conditions of a credit account.

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Scoring Model

What is a Scoring Model?
A Scoring Model is a mathematical formula used to evaluate financial data in order to predict the future behavior of a borrower.

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Second Mortgage

What is a Second Mortgage?
A Second Mortgage is a loan listed as the second lien on a deed, which uses a home‘s equity as collateral. The first mortgage must be paid in full before the second mortgage.

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Secured Credit Cards

What are Secured Credit Cards?
Secured Credit Cards are small plastic cards issued by a bank allowing the cardholder to use the card just like a regular credit card. These types of cards, however, are backed by a savings account used as collateral.

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Secured Debt

What is Secured Debt?
A Secured Debt is any debt owed to a lender in which the loan is secured by some type of collateral, usually a home, car, boat, etc.

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Secured Loan

What is a Secured Loan?
A Secured Loan is any loan extended by a lender to a borrower with collateral acting as security for the lender, such as a home as collateral for a mortgage loan.

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Security

What is a Security?
A Security is a document providing proof of ownership for stocks, bonds and other investments.

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Security Alert

What is a Security Alert?
A Security Alert is a notification issued by the credit reporting agencies after a consumer becomes the victim ofidentity theft.

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Security Finance

What is Security Finance?
Security Finance is a negotiable instrument with financial value.

What is Security Finance on a credit report?
Security Finance is a financial company that offers small personal loans to individuals sometimes even while not in the best credit situations. Typically, they will ask that you list personal property you own in your home such as televisions, stereo equipment, game systems, etc. as security for the loan.

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Security Freeze

What is a Security Freeze?
A Security Freeze is a credit freeze or a credit report freeze that limits access or locks down a consumer’s credit report.

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Security Interest

What is Security Interest?
Security Interest represents any interest in a property, which secures the obligators payment.

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Security Service Federal Credit Union on credit report

What does Security Service Federal Credit Union on a credit report mean?
When a consumer finds Security Service Federal Credit Union on a credit report, it means they hold or held an account with Security Service Federal Credit Union for a loan or credit card.

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Sellers Points

What are Sellers Points?
Sellers Points are a payment made by the seller to reduce the cost of the loan for the buyer, usually equal to 1% of the total loan amount.

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Service Charge

What is a Service Charge?
A Service Charge is a fee paid by a consumer to a finance company for processing or servicing of an account.

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Service Credit

What is Service Credit?
A Service Credit is money paid to the customer in the event of a mistake made by the creditor.

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Settle

What does Settle mean?
Settle means to pay off a debt for less than the amount owed.

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Shore BK

What is Shore BK?
Shore BK is often found on credit reports and stands for an account with Shore Bank.

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Short Sale

What is a Short Sale?
A Short Sale is selling a home at a price lower than the balance owed.

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Social Security Number (SSN)

What is a Social Security Number?
A Social Security Number is a unique nine-digit number used to track social security savings, but also used by creditors and other businesses to identify an individual’s accounts.

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Soft Inquiry – Soft Pull

What is a Soft Inquiry or Hard Pull?
A Soft Inquiry or soft pull is when your credit is pulled without the purposes of applying for credit. This can be done by you on a consumer report, your creditors, or an insurance company. This is different from a hard pull or hard inquiry because it does not damage your credit score, where as hard pull or hard inquiry can reduce your score based on the risk model and any other items affecting your credit status.

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Source

What is the Source?
Source often refers to the account a down payment will come from, a payment will come from or the funds of a loan will come from.

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Southwest Funding

What is Southwest Funding?
Southwest Funding is a company based in Dallas, Texas, which used to operate under the name Texas Residential Mortgage. They are a large residential mortgage provider.

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Sovereign Bank on credit report

What does Sovereign Bank on a credit report mean?
When you find Sovereign Bank on a credit report, it means Sovereign Bank holds or held an account of yours, such as a loan or credit card.

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SPS

What is SPS?
SPS stands for Select Portfolio Servicing, Inc. This is a company providing residential mortgage services across the United States.

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Stafford Loan

What is a Stafford Loan?
A Stafford Loan is a type of education or student loan offered as a need-based government loan to help cover tuition, books and living expenses.

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Star One Credit Union on credit report

What does Star One Credit Union on a credit report mean?
If Star One Credit Union is found on a credit report, it represents an account with Star One Credit Union.

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State and Local Housing Programs

What are State and Local Housing Programs?
State and Local Housing Programs are government programs used to help those in need pay for housing, bills and other expenses. They also assist first time homebuyers and help homebuyers avoid foreclosure in some circumstances.

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State Employees Credit Union on credit report

What does State Employees Credit Union on a credit report mean?
Finding State Employees Credit Union on a credit report means a consumer owes a debt to or has an account with the State Employees Credit Union.

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State Employees of Maryland Credit Union on credit report

What does State Employees of Maryland Credit Union on a credit report mean?
If State Employees of Maryland Credit Union shows up on a credit report, it represents a debt or account with to State Employees of Maryland Credit Union.

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State Farm Federal Credit Union on credit report

What does State Farm Federal Credit Union on a credit report mean?
When State Farm Federal Credit Union is found on a credit report, it represents an account with the State Farm Federal Credit Union, usually a loan or credit card.

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State Street Bank & Trust Co. on credit report

What does State Street Bank & Trust Co. on a credit report mean?
Finding State Street Bank & Trust Co. on a credit report means the individual has or had an account with State Street Bank & Trust Co.

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State Tax Lien

What is a State Tax Lien?
A State Tax Lien is a lien placed by the state on property of a taxpayer due to unpaid state taxes. When the property is sold, the lien will be used to pay back taxes of the taxpayer.

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Stated Income Loan

What is a Stated Income Loan?
A Stated Income Loan is a mortgage loan that does not require verification of income through pay stubs, W-2 forms or bank statements.

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Statement

What is a Statement?
A Statement is a record of any account including a bank accounts, loans and credit card accounts.

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Statement Date

What is the Statement Date?
The Statement Date is the date in which a statement was generated.

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Status

What does Status mean?
Status is a term referring to the health of an account, such as a past due or current account status.

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Subprime Borrower

What is a Subprime Borrower?
A Subprime Borrower is any borrower not meeting the requirements of prime credit and offered a loan. Mostly the subprime programs have gone away where it used to be people with scores of less than 620 would be eligible for a subprime mortgage loan. Of course, these were typically at much worse terms than that of the conventional or FHA loans, however due to the housing market collapse and the financial collapse in 2008 mortgage guidelines have become much more stringent. It is very important to have good credit when looking to purchase a home now.

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Subprime Mortgages

What are Subprime Mortgages?
Subprime Mortgages are home loans offered to borrowers with less than prime credit, usually with a credit score under 620. This type of loan is seldom offered now as the guidelines are much more strict as a part of the financial crisis has been due to the loose guidelines and restrictions of mortgage loans specifically for subprime borrowers.

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Subsidized Loan

What is a Subsidized Loan?
A Subsidized Loan is a type of student loan, such as the Perkins Loan, in which the government pays the interest on the loan while the student is enrolled in college.

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Suncoast Schools Federal Credit Union on credit report

What does Suncoast Schools Federal Credit Union on a credit report mean?
When Suncoast Schools Federal Credit Union is on a credit report, it represents any current or past account with Suncoast Schools Federal Credit Union.

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SunTrust Bank Mortgage

What is SunTrust Bank Mortgage?
SunTrust Bank Mortgage is a top 10 mortgage company providing residential mortgages in 49 of the 50 United States.

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SunTrust Bank on credit report

What does SunTrust Bank on a credit report mean?
When SunTrust Bank is found on a credit report, it represents a current or past mortgage loan.

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Super Conforming Mortgages

What are Super Conforming Mortgages?
Super Conforming Mortgages are mortgages originated with a higher maximum loan amount, designed for use in high-cost housing areas.

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Supreme Lending

What is Supreme Lending?
Supreme Lending is one of the most respected mortgage bankers in the United States and was established in 1999 by Scott Everett.

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Surcharge

What is a Surcharge?
A Surcharge is an additional charge or payment charged to the customer.