dispute statement on reports

[Anonymous]

Why lenders dont allow to have dispute statemetn on credit reports?

[SonorityGenius]

Stringent UW: the consenquence of the crisis.

Disputes do not definitively indicate whether you owe the debt or not, they need to either include it in the DTI or not to give you loan approval.. so the UWs dont like any, and some may be satisfied with letter of explanation but nowadays cleaner reports are getting the loan sold.

[Anonymous]

My lender want me to remove all those, they want letters from creditors indicated iam no longer dispute fax back to them so the can re-score. i dont understand how they re-score but not the credit bureaus?

thank you

[DallasLoanGuy]

i think disputed items are ommited from scoring.

 and, lenders think that if you are disputing, then you arent ready tobuy a house

[Anonymous]

lenders are also leary because too many people went out and disputed everything to try and catch companies in the 30 day response loophole and get stuff dropped.  In these cases, not only is it fraudulent behavior, but the lender sees a bunch of disputes (especially if there is not ID theft notations) and worries that the credit might not be as clean as it looks if some stuff got deleted.

They want to make sure before the lend to you that the credit report is accurate and that you agree that it is a current and accurate representation of both your liabilities, and your past history of payments.

I see their point on this but 1 dispute should not really matter in my opinion.  More when someone disputes everything on their record.

[kball64]

It is a new Fannie Mae guideline. 

[kball64]

vt2,

I just went through this in order to close on our house.  This is what I had to do:  I called all 3 CRA's.  Experian was easy - they removed it instantly by phone.  EQ & TU said that because the "consumer disputes" statement was placed by the creditor, I had to file a dispute and they would verify with the creditor and have it removed.  They said it could take up to 30 days.  Since I didn't have much time, I called the creditor and requested it directly with them.  They were easy and said they would send notification to the CRA's within 10 days and they faxed me a letter.  It took about 7 business day for me to get the letter.  I faxed the letter to EQ (CSC here in Texas) and they removed the dispute statement within 3 days.  TU was a bit harder.  They would not accept my faxed letter and calling the TU call center is absolulety no help.  Since I was in a time crunch, my LO requested that we do a rapid re-score.  So I faxed my letter from the creditor to my LO and they sent it to their credit vendor who did the rapid rescore. Within 72 hours it was clear.  My score took a very slight 3 pt hit.  If I had known about the rapid rescore from the very start I would have gone that route and saved myself a lot of time and stress from having to deal with the CRA's.

Good luck! 

[Anonymous]

i had all removed, but one won't. I dont know what to do. they said i must paid before they removed but if i paid my score will drop right?

thanks

[Anonymous]

i had 15 dispute staments removed, 10 from student loans were paid off in 2005. they report late in may 2009. i am suffer for the error that they put on my report. how many did you remove?

thank you.

[Anonymous]

can i please get the phone number for the bureaus?

thanks