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Established Member
roadwork
Posts: 14
Registered: ‎05-12-2013
0

Stressing over loan in UW...

This has been a roller coaster for us for sure! UW came back with a conditional approval and some normal conditions, updated pay stubs, statements, etc. Got these turned around super quick for them. Then, I get word that I have a dispute comment that needs to be removed before we can get a final approval. Just freaking a little since this will be the 3rd hard pull from the lender, and how that might impact my already fragile scores. I've already had a bogus collection pop up after getting a pre-approval, score tanked, fought it out, got it removed. Anyways, they were super cool about the dispute comment, and gave me a letter to fill in so their credit company could get the comment removed.... waiting on that.

 

The builder has already started construction on the house, but we have at least 6 months before it is finished. Do they do a final approval, then we wait until the home is finished, and then close??

Regular Contributor
tinkytoo
Posts: 138
Registered: ‎10-17-2009
0

Re: Stressing over loan in UW...

I just had this same issue I just posted on, my approval was tanked because I had to get a dispute comment removed it took my score down 26 points because this collection was due to come off next year. I can't stop the tears from falling. I hope this does not happen in your case really worried

Established Member
roadwork
Posts: 14
Registered: ‎05-12-2013
0

Re: Stressing over loan in UW...

Thanks. Trying to stay positive. I've read on here that some folks just get them removed and do not have a score drop. I guess it depends on the type of account?
Regular Contributor
tinkytoo
Posts: 138
Registered: ‎10-17-2009
0

Re: Stressing over loan in UW...

Yeah it is awful they reassured me that my fine was nothing to worry about

Established Member
roadwork
Posts: 14
Registered: ‎05-12-2013
0

Re: Stressing over loan in UW...

How long did it take them to remove the comment after your letter?

Regular Contributor
tinkytoo
Posts: 138
Registered: ‎10-17-2009
0

Re: Stressing over loan in UW...

four or five days

Established Member
roadwork
Posts: 14
Registered: ‎05-12-2013
0

Re: Stressing over loan in UW...

Ok, had the comments removed by CRA's... got confirmation in December. I just re-checked my reports and the comments are back on there. The good thing was that my scores did not drop after they were originally removed. I assume because this is a collection account I am dealing with.

 

So, I have to find some way to get the CA to remove the dispute comments before the lender has to pull my scores/reports again mid-Feb. This is def. a PITA! The house will not be finished for at least 3 months, so hopefully that's enough time.

Valued Contributor
tooleman694
Posts: 2,297
Registered: ‎08-25-2011
0

Re: Stressing over loan in UW...

I went thru this same exact thing. I had to do a dispute that I was no longer disputing the account.

 

Took about 3 tries and they finally got it. 3 months later.

Valued Contributor
newmomnewme
Posts: 1,305
Registered: ‎09-30-2013
0

Re: Stressing over loan in UW...

There is a thread somewhere around here and it lists telephone numbers for each of the CRA. I called them and the comments were removed within a day... TU and EX removed them right while I was on the phone with them. If I can find it, I will add the link to this thread. I think it was Dallas the loan guy.  I think my scores may have dropped a few points but not more than 10. 



Starting Score: May 2013 EQ: 577 TU: 537 EX: 555
Current Score: EQ: 600 TU: 644 EX: ??
Goal Score: ALL 720+

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Established Member
roadwork
Posts: 14
Registered: ‎05-12-2013
0

Re: Stressing over loan in UW...

Thanks, I followed the instructions and the CRA's deleted right away. It worked great. However, the collection agency added them back in when they reported for the month. I am a little confused though, because I know at least Equifax created a dispute and investigated with CA. But it's back on there too. Going to try and fax and mail the CA to tell them that I am not disputing.


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