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Mortgage Transfer caused my score to drop 73 points?

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djmax041
Valued Member

Mortgage Transfer caused my score to drop 73 points?

So my mortgage company which is a local credit union sold my loan and it dropped my score 73 points!

What bothers me about this is thats theres nothing I can do. I was actually planning on buying a new car but not when it my credit falls from the the 700's to the 600's

It shows on my account mortgage loan closed account 22 months on time payments . I know the new account will come on soon but why should it drop my score?

 

Keep in mind Never missed a payment in the close to 2 years Ive had the loan and I actually pay extra a month.

Message 1 of 5
4 REPLIES 4
medicgrrl
Valued Contributor

Re: Mortgage Transfer caused my score to drop 73 points?

Have you pulled your report? That seems like a large drop just to have an installment show paid.


EQ 778 EXP 782 TU 729
Message 2 of 5
andydallas1
Established Member

Re: Mortgage Transfer caused my score to drop 73 points?

if the new mortgage servicer reports your loan, it will be obvious it is the same loan,,if the CRAs don't figureit out just dispute,,I have had that happen before, not hard to fix,,,but that big of a drop doesn't sound right if they didn't figure it out yet

Message 3 of 5
stellar
Established Contributor

Re: Mortgage Transfer caused my score to drop 73 points?

Is it your FICO score or was it from creditkarma?

Message 4 of 5
Anonymous
Not applicable

Re: Mortgage Transfer caused my score to drop 73 points?


@stellar wrote:

Is it your FICO score or was it from creditkarma?


Popped in to ask the exact same question.

 

If it wasn't from Credit Karma, where did you get it from?  What score is it exactly?

Message 5 of 5
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