A new pamphlet, published by the the National Association of Realtors and mortgage giant Freddie Mac, is being distributed to buyers, sellers and industry professionals in the hope of eliminating confusion about credit scoring and automated underwriting.

The pamphlet explains credit scores -- a way of determining the likelihood that a borrower will pay back a loan -- and offers tips on maintaining an acceptable credit record.

Factors that influence credit scores include a person's history of repaying loans and credit card bills, as well as tax liens and bankruptcies.

Dwight Robinson, vice president of industry relations for Freddie Mac, said one of the most important things potential homebuyers can do is pay their bills on time, even if it's just the minimum amount.

Potential homebuyers can check their credit records by calling one of the following three credit companies: Equifax at 800-685-1111, Experian at 800-682-7654 and Trans Union at 800-888-4213.

Pub Date: 3/07/99