To add, look back towards the comment itself. It'll make that mention and it should also list how many months ago your most recent late occured. It it says something like your most recent last was last month, then look at your accounts a little closer. Baddies like charge-offs, will often update on a monthly basis and add a late every month. Compare both reports and if you have any collections that updated with an added late then that could be your culprit. This is especially true if there is a fair amount of time between the "updated" or "reported" dates within that problem TL.
It could also be other factors. Study the smallest of differences within your two reports. Look at utilization. If your CC util increased between both reports then you'd see a score drop. Look at the # of accounts reporting balances. An extra account reporting a balance can drop your score by that much. Look for any other added lates. If you added any new accounts in the past 3 months, then you could easily see a 25 pt drop. Look for any other new accounts. Look for missing accounts as that too as can have a big impact on score. Look for any changes in the "account status" or "worst delinquency" within a given TL too.
If all else fails, then look at the positive and negative factors listed on pages 2 or 3 of those reports. If the positive and negative factors are all jumbled up or some are missing but replaced by others, then there's the possibility that you were rebucketed.
