question on credit card balances and mortgage company checking balance before closing

[Anonymous]

ok so part of underwriting i had to pay off three credit cards.  I paid those off.  The mortgage file is now with usda for final approval.  They are saying one of the cards that was paid off has a charge on it.  Ok that is fine it was the monthly fee from myfico i can pay that no problem its fine.  My question is how the hell do they know it was charged??  The payment was two days ago and my credit card balance doesnt report to the credit bureaus until november 14th.  So how do they know it was used???

[ezdriver]

Pull your credit reports and examine the contents for that tradeline. The creditor would have had to touch your credit file.

[Anonymous]

I did.  It hasnt updated since October 14th.  It still shows the old balance before i paid it off on my credit reports.  My LO says that once they require you to pay off a card the usda has a system that allows for daily montoring of your balances.  Never heard of that but i am 100% sure they didnt get the charge from my credit report.

[StartingOver10]

That is pretty interesting that the USDA can monitor your balances on your tradelines without pulling another credit report. Never heard of it. It is a little scary too. When they soft pull your report they at least leave a sp inq on your report. The way they monitor it through this system that was mentioned to you there is no indication. Wonder what the usda could be using for their monitoring system? You would think they would have to disclose it to you with all this transparency that is required now. 

[Anonymous]

not sure but myfico auto charged the monthly fee and my loan went to usda the next day and they came back to my LO stating that the card was used.   

[Anonymous]

bturner observed-

"  My LO says that once they require you to pay off a card the usda has a system that allows for daily montoring of your balances. "

Dadgum.

[Anonymous]

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@Anonymous wrote:

bturner observed-

"  My LO says that once they require you to pay off a card the usda has a system that allows for daily montoring of your balances. "

Dadgum.

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haha my thoughts exactly.  I paid the balance again which was only $32 and change and sent it over to the LO who sent it to the usda underwriter so we are back on track hopefully close soon!