Should my mortgage be reported on my CR??

[dharalex]

I posed this question on credit rebuilding, and I got a bunch of looks, but no responses. So I'm reaching out here to see if I have any luck. Here it goes:

My original mortgage was taken out in 2006. It has an impeccable payment history. In Dec, the mortgage was transferred to another bank, but that bank does not report it on my CR. So when I get a 3-1 report, even myFICO TU/ EQ CR lists me with no mortgage. My dilemma is: do I do nothing, or should I ask them to start reporting it? On one hand, I know excellent payment history on a mortgage is good on the CR, but if it reports, won't it effect my debt to income ratio? I am trying to get a CC with a significant balance...to me that's greater than $10,000. Any ideas/recommendations are greatly appreciated!

[Walt_K]

You can ask them to report your mortgage, but I don't think they are under any obligation to do so.  There are costs to reporting information.  Lenders choose whether or not they want to incur those costs.  I don't know if there are any special rules requiring mortgage lenders to report.

As far as the CC is concerned, I would think having a mortgage that you pay responsibly would be on balance better for you.  If you're looking for a high initial limit, credit unions are known for giving higher initial limits than banks. 

[dharalex]

Thank you!

[ShanetheMortgageMan]

Walt is correct, they are not required to report your mortgage payment history, but if they do then it must be accurate.  I am not sure what is required on the credit card application, but most ask what your current housing payment is so your mortgage payment amount would be known either way.  You probably want to ask this in the credit card section since it's a credit card qualifying question.

[dharalex]

Thank you so much! I did try this in the cc section. Many people read it but I got zero response. I was disappointed, but it didn't stop me! I'm going to sit on it for now...thanks again!