If someone opens a loan account in your name, you might not know about it if you aren't keeping track on your credit report. (creditcardsmarts.org)
The borrower must have a seasoned loan — ie, the borrower must have opened the loan at least six (6) months prior to refinancing. (fhastreamlinerefi.net)
Carefully add new credit FICO encourages borrowers to only open loan accounts they actually need. (creditcards.com)