Regular Contributor
Posts: 135
Registered: ‎01-04-2012
Re: May need to find a new lender....advice needed
[ Edited ]

vabound wrote:

Ok now I am so frustrated and very discouraged.  I told my LO today that an updated credit report would show that the only three collection accts i had are deleted.  I knew that my lower score would go up and my mid score had not changed but maybe with the collections accts gone we could clear automated uw.  I call him again at 5pm and he had just pulled the report and was sending it to me. He said that it was bad and that our scores had dropped.  This was totally incorrect!!! My husbands score increased from the last credit pull and so did my lower score.  He also said that we had updated information on old bad debt....also incorrect!!!! I  pointed out to him that all of the info on this new report is the same info that was on the report he used to pre-approve us.  THen he tells me that the processor told him that i need to wait until february because I have a late payment from last february.  We have been waiting on him for THREE WEEKS and this is the first time he has mentioned this.  I told him I could easily write a LOE for that one late credit card payment and he said they would keep working on it.  uuuuugh

meanwhile my husband was referred by a family member to a mortgage broker who only does VA loans.  He said for VA he can do the loan with a 620 which we are well above and if he pre-approves us the loan is going to go through.  More importantly he was very upfront about the process and my husband found him to be much more informative than our current LO. 

what a mess.......I am still praying that we can celebrate CHristmas in our new home.

I've never heard of a pre-approval being a guaranteed approval before.  When you find out, can you share it?


sorry, forgot to say pleaseSmiley EmbarassedSmiley Happy

FICO EQ: 633 8/15/12
lender pulled 11/3/12 EQ 661 TU 650 EX598
credit Karma 674 credit sesame: 663
B/K discharged 2/2006......closed 8/2012

May your limits be high and your balances low!