Heights Finance is messing up my goals

[Anonymous]

On the updated report...was the lates off???...if so...then that's all your going to get...scores are updated instantly...as soon as there is a change in the report...maybe you were rebucketed...

[vollybal]

I really hope that the little increase was not all i am going to get back as the only thing that it showed changing was the end of the investigation I haven't pulled my report to check but I want to wait a couple of days to see if I will get more of a change. My other scores from the other CRAs are in the mid 600s now as opposed to this one that is just at 535 right now. Crossing my fingers.

[ShanetheMortgageMan]

I'd give it a day or two.

[vollybal]

Just received another scorewatch increase. This one was a bit more it went up 49 points! That is a good sign. I still haven't pulled my reports to see the true status of all the reports and scores but as it stands right now, EQ is at 584, and the other two are in the mid 600s.

Should I wait a little longer to see if it increases more or pull the CRA reports?

Also, with these scores I believe that I would be on good ground to start my pursue of a FHA mortgage. Hopefully, the score will go up a little more. But at least it looks like the heights finance issues seem to be resolving.

[vollybal]

Ok, Wanted to give an update on the status of Heights finance and everything...I ran all the credit reports yesterday as I was really wanting to know what they looked like now. Well, The lates have been removed!!! YEAH!!!! Know I did not get everything back in the way of scoring as I am still at 584 for the EQ, but after pulling my other two scores they are both above the 620 mark with one of them in the 670s!!!! I decided to see what would happen with going to the mortgage person and having them run everything. I had to re-fax them bank statements and pay stubs as it was a bit over two months ago the last time they told me no. Well, the LO called back and was very impressed with the fact that I raised my mid score from 550 to 610 in that time frame!!

While I was faxing other stuff to her she called me and told me she ran my file through the automated underwriting and I was like oh no I would not think I would get approved through there, Well guess what. I GOT AN APPROVAL through the automated system!!! That was a really good feeling. Now she told me that now it has to go through there underwriters and I should know something by Wednesday.....I am going to be biting my nails until then.

Does anyone know how hard this process from here with the underwriters might be. The mortgage company I am working with is Universal American Mortgage Company (UAMC). IF anyone has dealt with them before can you let me know how their underwriters are?

I have to fax my student loan statuses to them as they are still deferred until 2011 so that will not be a problem. I am hoping they come back with an approval and a good rate. The 610 mid score does not reflect the fact that I still have a util on CC of 22% that the company needs to update the CRAs as I have paid the CC off in the beginning of October. And the CC company told me that in the mean time the LO can get a rapid rescore if need be.

ANy thoughts on my situation and how it might go would be greatly appreciated!!

Thanks! 

[DallasLoanGuy]

Depending on the company.... They should follow the Automated findings.

We do.

Some 'enhance' the findings.... this would be a good question for your loan officer.

Bottom line: If you have a good loan officer, your approval is solid.... Go buy a key ring.

If your loan officer is a dufus... then they may be able to muddle thru it!!

[vollybal]

Dallas,

Thanks for the info. The LO actually wanted me to wait a couple of months ago becuase she did not think that the underwriters would not do it. She gave me some hint on what I could do to help improve my credit and it fell along the same lines as I received on this forum. So I am leaning towards the LO being good, I Guess I will find out this week.

I will keep you all imformed.

Thanxs!