We were Colonial customers. When the bank was closed our mortgage was sold/transferred to Cenlar. This was in Aug/Sept. They did not report the mortgage until Dec. and it has just hit the fico score. With no mortgage showing, my husbands score went down. It started to creep up due to paying down CCs. Now that Cenlar has reported the mortgage, his score dropped about 20 points. Shouldn't it have gone up? Does it get counted as a new mortgage? We want to refinance, but all this has made his score go down under 700 when it should be over 720.
There are several reports of "old" mortgages listed as transfers from the previous sales from bank to bank. There are no late payments on any reports on mortgages. (Only one CC account has two 30 days late from about 3-4 years ago. The rest of the low score is reflected in debt-credit ratio -- we're woring on that!)
What should I do about this, if anything? There technically is no "error" to report. The problem seems to be in the scoring, but you can't call and speak to anyone at FICO to even make sure about what is going on or to find out how to get the information "reported" into the Fico computer so that we get the credit for paying on time on this mortgage for 11 years. This is very frustrating.
Any help would be greatly appreciated.
Shari
