05-16-2012 01:11 PM
Just an update, for those following...
Mailed via express mail on Saturday and was signed for on Monday afternoon, at Atlanta address.
As of today, Wednesday afternoon, no word or response yet??
It might be, that they have a lot of mail and issues to deal with in this unit??
Will post my result, as soon as I hear.
05-18-2012 11:37 AM
OK, as promised, here is my update!!
My express mail letter to the Executive Consumer Services department, worked and I also did a follow-up email to Dorothy at Equifax.
She phoned me this a.m. and advised me that these comments had been deleted from my file, and I would receive a letter in the near future.
There is a God in Heaven!!! Thank you Dorothy at Equifax for caring and not being just another bureaucrat!!!
Again, it took some patience and friendly, not obnoxious, communications, and it paid off for me!!
And in addition to Dorothy in Atlanta, thank each of you here in this forum, who offered up advice!!!
VA Home Mortgage, here I come!!!
06-02-2012 06:47 PM
Sorry I did not see this sooner.
Here is the address:
Equifax Office of Executive Consumer Services (Region 043)
1550 Peachtree Street, MD-H13
Atlanta, GA 30309
06-02-2012 06:53 PM
Well, as I reported elsewhere in the forum, after I went through this dispute comment removal process, my scores dipped down sharply for a couple of weeks or so.
Then, they came back up somewhat, not to the level before, but not as low as the dip.
Now most recently, I have been getting alerts, that 'consumer disputes this account' has been added back onto my agency reports.
It appears that at least one of the collection agencies, after first removing them for a week or two, has now reentered these comments onto their credit files and have re-reported to the bureaus, wherein my scores have now dipped down again.
I feel this is in violation of the FCRA, in that the bureaus, all three of them, acknowledged that I wanted the comments removed, and now they have unilaterally re-established these comments on multiple old collection accounts.
What is my option, re-contact the bureaus and have them removed again?? I am tired of these games!
06-26-2012 10:48 AM
Hi! Just thought I would comment on this. I just spoke with my LO today & he stated these regulations were rescinded, so they will not be implemented. This is great news for me! I was worried about having to remove the comments even though my balance is at $0. Hope this info helps!
06-26-2012 11:10 AM
Hi, thanks for the update and info; however, can you provide some more source documentation for this, my lender has no info in this regard??
This is significant for those of us who have struggled with this aspect of trying to get the notations removed....and then in my case, most of the collectors have put them back in (the dispute comment) one month later!!
06-26-2012 11:22 AM
The most recent regulations that were posted on pg.6, which were scheduled to take effect 7/1/12, were rescinded....
If the Automated Underwriting System using the TOTAL Mortgage Scorecard rates the mortgage loan application as an Accept, the mortgage application will no longer be referred to a DE underwriter for review due to disputed accounts, as long as these accounts meet both of the following conditions:
If the borrower has individual or multiple disputed credit accounts or collections with singular or cumulative balances equal to or greater than $1,000, the accounts must be resolved (e.g. payment arrangements with a minimum three months of verified payments made as agreed) or paid in full, prior to, or at the time of closing. The lender must obtain documentation supporting the payment arrangements or that the debt has been paid off. The payments arranged for the accounts must be included
in the calculation of the borrower’s debt-to-income ratios.
The previous regulations are still accurate:
If you finance with an FHA loan which is more than likely the type of financing you would use, a disputed account is a problem unless:
The debt is paid to zero balance
OR the debt is marked as resolved or paid in full
OR if the balance is less than $500 and the dispute is more than two years old”.
I'm not sure where he recieved the info about the 7/1/12 regulations being withdrawn. I will ask him & look around to see if I can find the source. Keep you posted!
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