New Member
Elaine_2012
Posts: 3
Registered: ‎02-29-2012
I gave my broker permission to pull credit. In 90 days 10 inquries!
[ Edited ]

9 of 10 hard pulls on my FICO reports (broker supplied them to explain why he couldn't make up a GFE from my quote the day prior as requested with the same terms) were from either the broker or CredCo. I gave my broker permission to pull my credit twice, once in late November 11 and once in February (my application lapsed over the holidays).

 

1. Why in the world would the brokerage pull my credit 4 times in 90 days?

2. Why/how would CredCo pull my credit 5 times in 90 days?

 

The broker is raising my GFE by .5% due to FICO dropping from 737 to 717. He blames the ONE inquiry from my Internet service provider (which I did not authorize and specifically asked that they not pull my credit as I was in the middle of refinaning).

 

Do I have any recourse?! I never authorized broker to pull credit FOUR times, nor was I even aware that CredCO was pulling my report. On one day, for example, the broker pulled my report once and CredCo twice!

 

Can I dispute the pulls? Or do I just cough up the extra $1250 in points because of this credit score drop?  Is this normal broker/lender behavior? I guess the wholesale lender is Interbank.

 

Thanks...

 

New Member
Elaine_2012
Posts: 3
Registered: ‎02-29-2012
Re: I gave my broker permission to pull credit. In 90 days 10 inquries! FICO dropped from 740 to 717
[ Edited ]

Lender is using FICO mid score-- EXP Class II. Here are the pulls:

 

Inquiries made in the last 180 days: ------------------------------------

1. 02-27-12 ____ MORTGAGE GRO (TUC-F01207005) APP,CAP

2. 02-21-12 QWEST LAND-L (TUC-U04993541) (APP) Decode 15

3. 02-13-12 CREDCO (EFX-181ZB06107) APP,CAP

4. 02-13-12 CREDCO (XPN-FR3996926) APP,CAP Decode 8
5. 02-13-12 ______ MORTGAGE GRO (TUC-F01207005) APP,CAP

6. 02-07-12 CREDCO (XPN-FR3996926) APP,CAP Decode 8

7. 02-07-12 _____ MORTGAGE GRO (TUC-F01207005) APP,CAP

8. 11-28-11 CREDCO (EFX-181ZB06107) APP,CAP
9. 11-28-11 CREDCO (XPN-FR3996926) APP,CAP Decode 8

10. 11-28-11 _____ MORTGAGE GRO (TUC-F01207005) APP,CAP

11. 09-12-11 RPI-LD (EFX-682ZB05428) APP,CAP

 

Valued Contributor
boomhower
Posts: 1,863
Registered: ‎09-20-2011
Re: I gave my broker permission to pull credit. In 90 days 10 inquries! FICO dropped from 740 to 717

This is why I didn't use a broker.  The good broker to bad broker ratio is astonishing.