Terms Used In Illinois Compiled Statutes > 215 ILCS 157 - Use of Credit Information in Personal Insurance Act
- Credit report: A detailed report of an individual's credit history prepared by a credit bureau and used by a lender in determining a loan applicant's creditworthiness. Source: OCC
- Fair Credit Reporting Act: A federal law, established in 1971 and revised in 1997, that gives consumers the right to see their credit records and correct any mistakes. Source: OCC
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.