Reply
Established Member
kevinh
Posts: 21
Registered: ‎04-23-2008
0

Anyone with graduated Sallie Mae payment plans should watch their scores

There is a lot of activity on the student loan board, but I just thought I would let everyone know if they are closing on a house in the next couple of weeks and thought they had good scores that they may drop if you have any Sallie Mae student loans.  If you have a graduated payment plan with them, they are reporting negative info to credit bureaus that you are making partial payments/arrangement (as if it were a collection or something).  Anyways, my score alone dropped 115 in one day and I am supposed to apply for a mortgage in a couple of weeks.  My mid is 720...so of course I am very upset right now.  Sallie Mae states they are fixing the issue, but cannot give a timeframe.  I am not sure how they can get away with this. 
Super Contributor
DallasLoanGuy
Posts: 6,187
Registered: ‎07-03-2007
0

Re: Anyone with graduated Sallie Mae payment plans should watch their scores

Your lender can do a rapidre score if this comes up.
Also, most deals don't need a credit report pulled at closing



* While I try to visit the forum often, please feel free to contact me directly with a link to your post if I fail to answer a follow up question.

* Lending across the entire 'Great State of Texas' since 2004

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+
}