GW triggers dispute?

[Anonymous]

Hi all,

I wrote a long GW to my mortgage compay to ask them not to report some of the most recent lates. I got a letter back saying "Sorry, can't do that." But now there is a dispute placed on all three CRs (I didn't dispute it at all... just threw myself at their mercy). Also, Equifax just updated that account through Sept (don't know why they are so behind) and my score jumped 28 pts. Thrilled about the points, but could the newly reported month do that? I can't see any other changes...

Thanks for any ideas...

[llecs]

It seems to be happening more and more. A GW can lead to a dispute.

[Anonymous]

Is that a bad thing? Does it have any meaning at all?

[llecs]

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likewise wrote:
Is that a bad thing? Does it have any meaning at all?

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Basically the dispute caused your FICO to change because the financial components of the mortgage account is no longer being scored, like your balance (factors out of your installment utilization), payment history, etc. Once the dispute clears, then, unfortunately, it goes back.

IMO, it isn't a bad thing. However, if you GW'd a 30-day on a TL that is at 0% utilization and all of your other cards are at 80%, for example, then a GW-led dispute would result in an increase in utilization to the 80%.

[Anonymous]

So my recent score increases are only temporary? It's my mortgage, and I would think that if they discounted my mortgage altogether, even with lots of lates on it, that my score would not go up... it removes age of account and mix of credit etc.

[llecs]

Yes, only temporary. Once removed, then the scores will go back.

Now, only the financial components are removed, other items like your history, mix, etc. are not removed during this. So, your history is the same.