@Anonymous wrote:
While shopping for a mortgage loan, we have had our credit pulled from 2 different banks. The second bank reassured me that even though it would be a credit pull there wouldn't really be a score decrease because the mortgage pulls are done within 30 days. Anyway we got an alert on here and CCT that it has dropped 12 points when the inquiry was added!!! We have had nothing but positive changes and I told the lender and she said that it was impossible for it to drop that much. really upset as I've been working hard to get my score up.
Something else may have changed.
Mortgage inquiries have a 30 day grace period independent of the de-dupe functionality of the algorithm. Individual mortgage inquiries don't count at all against you during that time.
The de-dupe feature, is 2 weeks on EX FICO 2, and 30-45 days for everything else that's relevant. Certainly for CCT monitoring which is a FICO 8 model, it's 45 days from when you first take a mortgage inquiry where any mortgage inquiries in that time will not count against you.
This presumes that the inquiries were coded correctly but there are so few lenders which make their own inquiries (most go through third parties like CBC/Innovis or Kroll Factual Data) it's really rare to get something different than this. If you look at the inquiry details, what's listed?
