06-09-2012 07:50 PM
Ive had a good standing CC for a few years and I added him already but its through the same company he got his through, the one that doesn't report to EQ. This is not good news. I guess we will go ahead and open him an account and hope for the best. what is the effect of no score on a mortgage loan or should I post that question in the other forum?
Post on the other forum. There are brokers and I think possibly loan officers and underwriters who frequent the mortgage board which I never see on any other forum.
My layman's understanding of mortgages is they take the middle score of the lower of the two applicants (assuming cosigned loan).
In this case, Having a score of X for Experian, Y for Transunion, and no score for Equifax, might still be acceptable as mathematically taking the lower of either X or Y is equivalent to the middle score, or worse, than if all three scores were available. If you do manage to proceed in the house purchase (and this can't be the first time this has come up) go open up a national bank card that reports to all three bureaus for him, and I would suggest for you too .
06-13-2012 11:55 PM
Probably none of my business, but isn't it illegal to obtain another person's credit report? Is there an exception for a spousal relationship?
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