Help In underwriting/collection agency updated status from last year

[Resha]

Hello everyone,
Last year around September 2012 I paid off a charge off and the balance was around 15000. The collection agency updated the status to 0/charge off. Now I received a preapproval in March with my middle score at 650. I submitted my contract in April and now I am in the underwriting stages. Today I receive an alert that my score of 650 has dropped to a 615 because that same collection agency that I paid back in September has updated their status to paid in full/charge off. Do I let my loan officer know, do I wait to see if he brings it to my attention? Please advise me on how I should proceed with this.

[DallasLoanGuy]

let the loan officer know.

they will know if a credit pull before closing will happen or not. AND whether it will be a deal killer.

some lenders will pull again but not care about the score change.... they only care about any new debt