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How many times do they pull report?

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Anonymous
Not applicable

How many times do they pull report?

I had gotten pre qualified for my loan which was 1 pull on all three reports. It took me alittle over a month to find the home I wanted so once I found it they pulled again ( I thought they would) Now 1 week later they pulled again. How many times do they need to pull?
Message 1 of 6
5 REPLIES 5
DallasLoanGuy
Super Contributor

Re: How many times do they pull report?

Different for different lenders.

You will have to ask yours.


 

Retired Lender
Message 2 of 6
Anonymous
Not applicable

Re: How many times do they pull report?

Ok I am getting concerned now. They have pulled my report again. Here are the dates. Should I be concerned now?

It does not show as looking for a loan and now I have all these inquiries on my credit report. How does the credit reporting agency now if this is for home buying? I have not been applying for anything so not to disrupt the process but I am getting concerned because I dont want this to affect buying a car once I get into a house(if I end up there with all of this going on) I found the house on 10-16

Pull dates:

8-20 (All 3 pulled)

8-23 (All 3 pulled)

10-17 (All 3 pulled) Transuion plled 2 times.

10-22 (All 3 pulled) Experian pulled 2 times.

10-23 (All 3 pulled)

 

Message 3 of 6
hawkeye33
Regular Contributor

Re: How many times do they pull report?

Each inquiry on your report should be tied to some named institution that pulled it. I would think, typically, the powers that be should be able to determine from that what the inquiry was for.

 

My LO created an LOE document that explained the date range of inquiries and that they were for the purpose of loan shopping for a mortgage. The document also explained two other inquiries that showed up on my report in the last 4 months, and the small credit lines that were opened as a result of those inquiries (one that was already showing on the report and one that had not yet shown up at the time of the letter). I would suggest you ask your LO for the same if you're concerned about the effect of the inquiries on your report/score.

 

Good luck.

Message 4 of 6
Anonymous
Not applicable

Re: How many times do they pull report?

Thanks I will ask. He said my documents went to underwriting so I thought they already had a lender. I will have to check up on that also. I dont want this to drag out to where I cannot qualify for the tax credit.
Message 5 of 6
Anonymous
Not applicable

Re: How many times do they pull report?

it sounds like the broker may be shopping your file to lenders and re-pulling credit each time.  Not sure, but a bank will not usually re-pull credit excetp typically at 3 points.  (application for pre-approval, when you officially aply and submit an sales contract, prior to or during UW).  They would not keep pulling.  You should be able to get some clarification from them what is going on, and after you get a house bought, you may be able to get some of them removed.  (do not try to get them removed right now as that will show as a dispute and may cause problems). 
Message 6 of 6
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