We've been pre-approved for an FHA loan, but one of the conditions that came up in UW is a collection from a couple months ago that we knew nothing about. The collection should never have existed in the first place, and we contacted the OC (hospital) to see what was going on, since we had just paid them a pretty large amount of money and were told that our account was PIF. After a little research, they realized they had 'misallocated' our payment. They contacted the CA to recall the account and have them remove it from DH's CR. OC sent us a letter saying that we do not have a collection balance with them and that we are in good standing. CA submitted the info to CBs to have it removed on August 1, but it's still showing on the CR. We contacted the CA to see if there was anything they could do do expedite the process. I talked to several people there, and they all pretty much said that they had submitted it to the CBs, and they really couldn't do anything to speed up the process once it was submitted. They offered to talk to our LO or send a letter saying that the info would be removed, but since it's such a recent account it's really hurting his score so we need it removed. We also called the CBs, but they just said that they hadn't received anything from the CA yet and that we should talk to them. I guess I'm just wondering if there's a way to speed up the process. Would a rapid rescore take care of it? If so, how do we get a rapid rescore if our LO doesn't offer it? Any suggestions or help would be greatly appreciated! Thanks in advance!
