Credit gives the word to pay either by repaying it or returning those resources later. In other words, this credit is the method of making the reciprocity formal, legally enforceable, and of course, extensible to a vast group of people who are not related.
However, the resources provided may be financial or have goods or services, like consumer credit. The credit covers any form of deferred payment. Credit generally gets extended by the creditor, the debtor or lender, and sometimes the borrower.
Equifax is one of the top global credit bureaus, along with Experian and TransUnion. It is one of the firms offering information on the creditworthiness, credit history, and credit scores of borrowers and companies to financial institutions and lenders, who use this information to evaluate whether or not to sanction mortgages or other loans. Equifax has a presence in 15 global nations, while setting up its offices back in 2010 in India as well. In India, it has its headquarters at Mumbai.
Equifax has unparalleled importance in the real estate and property sectors. As a leading credit-reporting agency, its reports help lenders evaluate, scrutinize, and ascertain the creditworthiness of prospective borrowers for home loans and other loans in the segment. The same holds true for commercial borrowers like real estate firms and developers. Hence, Equifax reports and information play a vital role in determining final loan approval, something that is essential in the real estate segment.
