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Senior Contributor
Booner72
Posts: 3,889
Registered: ‎05-24-2011
0

Re: Best Way to Remove "Account In Dispute" for Mortgage Loan

OMG,  FINALLY.  What finally worked?  Just simple harrassment from ol' walt k?  

 

BofA CSR  "OMG, if that Walk calls me one more time I'm going to freak out."

 

BofA Other CSR:  "I Know.  Just don't answer, leave him on hold."

 

.......................3 hours later.....

 

BofA CSR: "WaltK is STILL holding!  Ok, I'm seriously done.  Let's just get rid of the dispute comments and then we can have some peace and quiet."

 

BofA Other CSR:  "Yes, let's.  Then we can move on to destroying another person's life with our wonderful banking tactics!"

STARTING: 11/24/10 EQ-584 EXP-648 TU04-595
CLOSED FIRST HOME 8/19/11 EQ-630 EXP-691 TU04-653
CURRENT: EQ-701 EXP-??? TU08-720
Senior Contributor
Walt_K
Posts: 3,065
Registered: ‎11-02-2009
0

Re: Best Way to Remove "Account In Dispute" for Mortgage Loan


Booner72 wrote:

OMG,  FINALLY.  What finally worked?  Just simple harrassment from ol' walt k?  

 

BofA CSR  "OMG, if that Walk calls me one more time I'm going to freak out."

 

BofA Other CSR:  "I Know.  Just don't answer, leave him on hold."

 

.......................3 hours later.....

 

BofA CSR: "WaltK is STILL holding!  Ok, I'm seriously done.  Let's just get rid of the dispute comments and then we can have some peace and quiet."

 

BofA Other CSR:  "Yes, let's.  Then we can move on to destroying another person's life with our wonderful banking tactics!"


Haha. No.  Although I had a conversation with a CSR sometime last year that was very frustrating where we eventually got into an argument over whether the CSR knew what the word "dispute" meant.  At that point I had clearly lost my cool and wasn't doing myself any favors.  In the end, the letter that worked was pretty similar to the other letters before it that didn't.  Just luck of the draw as to who is reading the letter, although in this instance, I think it was more like bad luck to get the rather obtuse people that kept denying the request.  Here's the letter if anyone has anything similar and they want a suggestion for what to write (although like I said, this failed multiple times before it succeeded, so that's not exactly a ringing endorsement):

 

To Whom It May Concern:

After closely examining my TransUnion Credit Report, I have discovered that my mortgage account with Bank of America is not reporting correctly.  In the remarks section, there is the following notation “Account information disputed by consumer.”  I do not dispute any account information and would like for this notation to be removed.

 

I believe this notation is in reference to a [date] letter I wrote to Bank of America requesting a goodwill adjustment to some late payment notations.  In that letter, I did not dispute that the reported information was accurate.  I was merely asking for Bank of America to remove the late payment notations as a gesture of goodwill to a customer who had since rehabilitated his account.  I accept responsibility for the late payments and do not dispute the accuracy of the reported information.

 

Even if Bank of America construes this goodwill request as a “dispute,” I am certainly no longer disputing this information.  I do not contest the accuracy of any information reported for this account.  Therefore, please remove this remark.


Starting Score: ~500 (12/01/2008)
Current Score: EQ 681 (04/05/13); TU 98 728 (01/06/12), TU 08? 760 (provided by Barclay 1/2/14), TU 04 728 (lender pull 01/12/12); EX 742 (lender pull 01/12/12)
Goal Score: 720


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Super Contributor
CS800
Posts: 6,548
Registered: ‎04-07-2008
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Re: Best Way to Remove "Account In Dispute" for Mortgage Loan

[ Edited ]

Walt_K wrote:

Haha. No.  Although I had a conversation with a CSR sometime last year that was very frustrating where we eventually got into an argument over whether the CSR knew what the word "dispute" meant.  At that point I had clearly lost my cool and wasn't doing myself any favors.  In the end, the letter that worked was pretty similar to the other letters before it that didn't.  Just luck of the draw as to who is reading the letter, although in this instance, I think it was more like bad luck to get the rather obtuse people that kept denying the request.  Here's the letter if anyone has anything similar and they want a suggestion for what to write (although like I said, this failed multiple times before it succeeded, so that's not exactly a ringing endorsement):

 

To Whom It May Concern:

After closely examining my TransUnion Credit Report, I have discovered that my mortgage account with Bank of America is not reporting correctly.  In the remarks section, there is the following notation “Account information disputed by consumer.”  I do not dispute any account information and would like for this notation to be removed.

 

I believe this notation is in reference to a [date] letter I wrote to Bank of America requesting a goodwill adjustment to some late payment notations.  In that letter, I did not dispute that the reported information was accurate.  I was merely asking for Bank of America to remove the late payment notations as a gesture of goodwill to a customer who had since rehabilitated his account.  I accept responsibility for the late payments and do not dispute the accuracy of the reported information.

 

Even if Bank of America construes this goodwill request as a “dispute,” I am certainly no longer disputing this information.  I do not contest the accuracy of any information reported for this account.  Therefore, please remove this remark.


Come on Walt K, they work for he bank so they know more than you in everyting that concerns credit reporting (insert sarcasm)

 

The amount of times I got into pissing contest with OC's or even banks becasue they didnt understand the basic thing about goodwill since they all told me by law they cannot remove a late and me telling them that they had the legal discretion to do so.

 

I however do have some the disputes comments that still show on my report  (2009 era). I have to call some of them to ask them to remove the comment since I'm no longer disputing this item.




Established Contributor
MBOhio2
Posts: 946
Registered: ‎02-07-2011
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Re: Best Way to Remove "Account In Dispute" for Mortgage Loan

To answer the question that's been answered here multiple times, but I'm not sure has been clearly answered:

 

Yes, if an account is in dispute, it oftentimes will be completely taken out of consideration for FICO scoring. That is definitely one of the major reasons lenders require disputes to be removed - with a dispute, it essentially gives a fake FICO because not all tradelines are properly factored in. And, not surprisingly, it's typically the negative ones that will be disputed, which artificially inflates a person's FICO score.

 

To illustrate my above point... my husband has very clean credit, but got dinged for a 30-day late payment on a student loan in January (he forgot the loan came out of post-grad forbearance and failed to pay it on time). He disputed the 30-day late payment. While disputed, his credit score was 733. When he finally got the dispute removed, which was required for our mortgage, his score fell to 676, where it currently sits. Even one little dispute can have a huge impact on a person's credit score!

Mid-2010 Starting Scores: FAKO EQ 476 FAKO EX 506 FICO TU98 575
Jan 2012 Current Scores: FICO EQ 604 FICO EX ??? TU98 623
Feb 2012 Goal Scores: EQ 620 EX 620 TR 620 (or just the middle to be 620!!)
Senior Contributor
Walt_K
Posts: 3,065
Registered: ‎11-02-2009
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Re: Best Way to Remove "Account In Dispute" for Mortgage Loan


MBOhio2 wrote:

To answer the question that's been answered here multiple times, but I'm not sure has been clearly answered:

 

Yes, if an account is in dispute, it oftentimes will be completely taken out of consideration for FICO scoring. That is definitely one of the major reasons lenders require disputes to be removed - with a dispute, it essentially gives a fake FICO because not all tradelines are properly factored in. And, not surprisingly, it's typically the negative ones that will be disputed, which artificially inflates a person's FICO score.

 

To illustrate my above point... my husband has very clean credit, but got dinged for a 30-day late payment on a student loan in January (he forgot the loan came out of post-grad forbearance and failed to pay it on time). He disputed the 30-day late payment. While disputed, his credit score was 733. When he finally got the dispute removed, which was required for our mortgage, his score fell to 676, where it currently sits. Even one little dispute can have a huge impact on a person's credit score!



Yes, but it goes beyond that.  This is also about "disputes" that are long since over and have no effect on your FICO score.  But the lender has reported in the comments section that "Account information disputed by consumer" or similar.  This comment does not remove the account from scoring but apparently still needs to be removed.  And some of the CRAs are a major PITA about getting that comment removed.  When BOA finally removed the dispute comment from my reports, there was no score change. 


Starting Score: ~500 (12/01/2008)
Current Score: EQ 681 (04/05/13); TU 98 728 (01/06/12), TU 08? 760 (provided by Barclay 1/2/14), TU 04 728 (lender pull 01/12/12); EX 742 (lender pull 01/12/12)
Goal Score: 720


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Frequent Contributor
Tooliebell
Posts: 395
Registered: ‎08-11-2010
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Re: Best Way to Remove "Account In Dispute" for Mortgage Loan

I tried the number for Experian 714-830-7000 and just got an answering machine and was asked for a 4 digit mailbox number for the person I was calling.  Anyone know of another way to call Experian.

 

Of course, this comes up today that I have AID comments that need to be removed! ARGGGHHHH...

New Member
arm1123
Posts: 1
Registered: ‎05-17-2010
0

Re: Best Way to Remove "Account In Dispute" for Mortgage Loan

First post, although I have lurked the board off and on for a while. I wish I had lurked even more to learn about the AID comments before now!

 

I am/was scheduled to close next Monday. Learned last Thursday about the AID comment and how it needed to be removed from my lender (only and last condition). Unfortunately I need it removed on my existing mortgage account with Wells Fargo. I disputed something back in January, Wells corrected it, and unfortunately left the comment there. I'm told they have until December 5 to respond...

 

I contacted all credit bureaus however they cannot update it without an investigation because Wells placed the comment there- I disupted with Wells directly and not the bureaus back in January so no bureau will budge. Needless to say, I'm not opening an additional investigation.

 

The added frustration comes into play (other than my lender JUST telling me this) when I call Wells everyday and get no where, faxed letter saying I wish to end the dispute last week and everything. Thought I got somewhere because one rep I was transferred to said they are usually quick with these things and that it probably would be done by today, gave me her name, number and extension but now she doesn't ever answer the phone or respond to voicemails. My lender only needs the letter to do the rescore. Customer service said that when they have the letter, they won't even fax it...

 

Beyond frustrated with this and know that the seller's agent will have a FIT when she learns the closing will be delayed. Very nervous that the seller may pull out but have tried everything and at this point I guess I have to simply wait it out unfortunately. I understand I'm not their only customer, I just wish it could go a bit smoother- and quicker wouldn't hurt- than this. Just needed to vent...

Senior Contributor
Walt_K
Posts: 3,065
Registered: ‎11-02-2009
0

Re: Best Way to Remove "Account In Dispute" for Mortgage Loan


arm1123 wrote:

First post, although I have lurked the board off and on for a while. I wish I had lurked even more to learn about the AID comments before now!

 

I am/was scheduled to close next Monday. Learned last Thursday about the AID comment and how it needed to be removed from my lender (only and last condition). Unfortunately I need it removed on my existing mortgage account with Wells Fargo. I disputed something back in January, Wells corrected it, and unfortunately left the comment there. I'm told they have until December 5 to respond...

 

I contacted all credit bureaus however they cannot update it without an investigation because Wells placed the comment there- I disupted with Wells directly and not the bureaus back in January so no bureau will budge. Needless to say, I'm not opening an additional investigation.

 

The added frustration comes into play (other than my lender JUST telling me this) when I call Wells everyday and get no where, faxed letter saying I wish to end the dispute last week and everything. Thought I got somewhere because one rep I was transferred to said they are usually quick with these things and that it probably would be done by today, gave me her name, number and extension but now she doesn't ever answer the phone or respond to voicemails. My lender only needs the letter to do the rescore. Customer service said that when they have the letter, they won't even fax it...

 

Beyond frustrated with this and know that the seller's agent will have a FIT when she learns the closing will be delayed. Very nervous that the seller may pull out but have tried everything and at this point I guess I have to simply wait it out unfortunately. I understand I'm not their only customer, I just wish it could go a bit smoother- and quicker wouldn't hurt- than this. Just needed to vent...



Maybe try going into a branch and talking with someone in the mortgage department?  I don't know.  Very sorry to hear about this.  It took me a long time to get BoA to remove it by writing letters to them.  But maybe if you walk into the bank and won't leave until the fix it.


Starting Score: ~500 (12/01/2008)
Current Score: EQ 681 (04/05/13); TU 98 728 (01/06/12), TU 08? 760 (provided by Barclay 1/2/14), TU 04 728 (lender pull 01/12/12); EX 742 (lender pull 01/12/12)
Goal Score: 720


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Regular Contributor
tammyjk
Posts: 161
Registered: ‎02-17-2011
0

Re: Best Way to Remove "Account In Dispute" for Mortgage Loan

I have had no issues with removing remarks from Experian and Transunion but Equifax will not budge.  Any advice?  They continue to say the creditor has to remove them since they put them there.  I have contacted the companies directly and said I am no longer disputing this account and sent fax...any other ideas?

 

March 2011 FICO® ~ 595 TU, 605 EQ, 525 EX
Aug 2012 Lender pulls: 702 TU, 667 EQ, 660 EX
Member
dsheila
Posts: 7
Registered: ‎12-16-2011
0

Re: Best Way to Remove "Account In Dispute" for Mortgage Loan

Hi Shane,

 

I am still having problems getting the remarks removed. By any chance do you have any new updates that may help. Thanks


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