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Contributor
Posts: 87
Registered: ‎01-16-2009
0

Credit pull after authorization expired

 

I had to be approved by my lender’s mortgage company for them to start construction. Fine, I authorize them to pull credit clearly mentioning that this authorization is valid for 20 days only.

 

They pulled my credit again after 20 days, what are my options? How can I dispute?

 

They approved my loan and closing will be by end of year. I may not want to go with them because of higher closing cost.

 

Thanks,

NC

 

Current Score: EQ: 786 (08/23/2012), EX: 802 (08/23/2012), TU: 774 (08/23/2012),

Goal Score: 800+ FICO across the board
Established Contributor
Posts: 619
Registered: ‎09-26-2011
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Re: Credit pull after authorization expired

I don't know that you can do anything about that.  My lender pulled my credit at time of app, but it expired and had to be pulled again. They will also do another pull right before closing due to it being FHA.  Can't be helped.

Starting Score: 10/1/2011 EQ 568 TU 593
Current Score: EQ 664 TU 700 EX 701 (FAKO)

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Contributor
Posts: 87
Registered: ‎01-16-2009
0

Re: Credit pull after authorization expired

 

I am thinking to ask them to remove this unauthorized inquiry.

 

Otherwise, if it impacts my rate with another lender, the small claim court is the way to go.

 

Sounds meaningful?

 

Current Score: EQ: 786 (08/23/2012), EX: 802 (08/23/2012), TU: 774 (08/23/2012),

Goal Score: 800+ FICO across the board
Valued Member
Posts: 42
Registered: ‎09-18-2012
0

Re: Credit pull after authorization expired

Similar thing just happened to me.  My loan officer just decided to do a hard inquiry after I made myself pretty clear I didn't want my credit pulled yet.  I had it pulled by them a few months ago but could not find a house we loved.  I had a conversation with the loan officer to make sure we were good to proceed in th eevent I see a home I want to move on.  I provided current pay stubs etc.. and asked that my credit not be pulled yet.  Anyhow the hard pull resulted in a too many inquiries on my credit report.  Shame because the LO has been great so far.  Does anybody know if this is acceptable?  I plan to attempt to have the inquiry removed, to me it seems a reasonable fight. 

Contributor
Posts: 87
Registered: ‎01-16-2009
0

Re: Credit pull after authorization expired

Thanks!!

 

Not sure about success, anyone??

 

 

Current Score: EQ: 786 (08/23/2012), EX: 802 (08/23/2012), TU: 774 (08/23/2012),

Goal Score: 800+ FICO across the board
Established Contributor
Posts: 619
Registered: ‎09-26-2011
0

Re: Credit pull after authorization expired

Disputing off an inquiry can be a tricky thing.  You have requested credit, so they have a legitimite business purpose to pull your report.  I've had hard pulls that should have been softs, some of which I was able to get retracted with much difficulty and letter-writing and some that I have not.  I've been told not to worry about inquiries so much as they are a very small part of the score.

Starting Score: 10/1/2011 EQ 568 TU 593
Current Score: EQ 664 TU 700 EX 701 (FAKO)

Contributor
Posts: 87
Registered: ‎01-16-2009
0

Re: Credit pull after authorization expired

 

The time I requested credit I authorized them giving 20 days window to pull credit. I explicitly wrote “Authorization is valid for next 20 days” and  they accepted it knowing they have 20 days.

 

My understanding is any credit pull by them after 20 days is unauthorized.

 

I have asked them to remove all or any inquires after authorization ends, will see what happens.

 

It is not the matter of how much score drops or gains after inquiry it is the matter of contract I signed with them.

 

Current Score: EQ: 786 (08/23/2012), EX: 802 (08/23/2012), TU: 774 (08/23/2012),

Goal Score: 800+ FICO across the board
Contributor
Posts: 87
Registered: ‎01-16-2009
0

Re: Credit pull after authorization expired

 

WOW!!!

 

So many views and no comments.

 

Current Score: EQ: 786 (08/23/2012), EX: 802 (08/23/2012), TU: 774 (08/23/2012),

Goal Score: 800+ FICO across the board
Valued Contributor
Posts: 3,302
Registered: ‎06-09-2010
0

Re: Credit pull after authorization expired


nc wrote:

 

WOW!!!

 

So many views and no comments.

 


Okay just a quick comment. You authorizing credit check for loan is just that an authorization. You giving a personal deadline for credit check is something you preferred which is not governed by state law. The laws of all states have different findings on credit checks and what is valid and not valid for authorization. I would be looking up the laws of the state and seeing what your rights are. 

Good Luck
May all your dreams and wishes become a reality!
Contributor
Posts: 87
Registered: ‎01-16-2009
0

Re: Credit pull after authorization expired

 

Thanks..

 

Not sure what is law in IL but I am not very happy about it...

 

Current Score: EQ: 786 (08/23/2012), EX: 802 (08/23/2012), TU: 774 (08/23/2012),

Goal Score: 800+ FICO across the board
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