Need a confidence boost right now and how! I am approx 2 weeks from closing on a house. Per mortgage lender - my scores are in the 669 - 684 range. I've been pulling scores here at MYfico regularly throughout this process - and even though my EX score (599 from 669) took a dive in late Jan (when I paid a collection per lender request) - EQ and TU have stayed consistently at 685. Last report from my fico was 3-18-14.
Today I signed up for SW - and just found out that my EQ score dropped in the basement at 614 - just since 3-18. Huh? I am quite stunned. And there is nothing at all new in the report to push that change. I've compared the multiple EQ reports since Jan/Feb and March - and there isn't one change - not even an inquiry - other than monthly reporting for 2 installment loans that are reporting positivlely. How the heck did I lose 70 points just like that?
Obviously, I am now extremely concerned about another lender pull before closing on this house. Per myfico - I no longer have a middle score acceptable for a VA loan. And there is no TL that I can do anything with (as in paying down a credit card - don't have one) to assist with a score jump. Ironically - if I'd never paid that old collection, I doubt I would not be in this situation.
If the lender does do another pull before closing - is there any chance at all he will get something better? Needless to say - I am not going to get much sleep until I get the call that close is good to go. Thanks for any insight!
Starting Score: 558
@ceecster wrote:Need a confidence boost right now and how! I am approx 2 weeks from closing on a house. Per mortgage lender - my scores are in the 669 - 684 range. I've been pulling scores here at MYfico regularly throughout this process - and even though my EX score (599 from 669) took a dive in late Jan (when I paid a collection per lender request) - EQ and TU have stayed consistently at 685. Last report from my fico was 3-18-14.
Today I signed up for SW - and just found out that my EQ score dropped in the basement at 614 - just since 3-18. Huh? I am quite stunned. And there is nothing at all new in the report to push that change. I've compared the multiple EQ reports since Jan/Feb and March - and there isn't one change - not even an inquiry - other than monthly reporting for 2 installment loans that are reporting positivlely. How the heck did I lose 70 points just like that?
Obviously, I am now extremely concerned about another lender pull before closing on this house. Per myfico - I no longer have a middle score acceptable for a VA loan. And there is no TL that I can do anything with (as in paying down a credit card - don't have one) to assist with a score jump. Ironically - if I'd never paid that old collection, I doubt I would not be in this situation.
If the lender does do another pull before closing - is there any chance at all he will get something better? Needless to say - I am not going to get much sleep until I get the call that close is good to go. Thanks for any insight!
The fact is something had to change.... Usually a new collection will drop the score that much. The scores that a mortgage lender pulls will be different from the scores that myFico sells... Paying a CA that has not updated on the report for awhile is going to hit your score when it updates to paid status. I would be GWing the CA and asking for it to be removed quickly. Look and see if the CA updated and the DOLA came current...
