topic Re: Mortgage Duplicate Reporting in General Credit Topics

Mortgage Duplicate Reporting

MrsDW — Tue, 21 Jul 2020 19:16:55 GMT

PHH Mortgage Services is reporting my new mortgage from open Sept 2019, closed Nov 2019. Planet Home Lending is reporting my current mortgage as open account as of Sept 2019. Should I even bother getting the PHH Mortgage Services deleted as it is a duplicate, or does it benefit me since it is a closed mortgage account in good standing?

Re: Mortgage Duplicate Reporting

gdale6 — Tue, 21 Jul 2020 19:46:58 GMT

Leave it as yes its a good account in closed status, helps with AAoA as it remains onfile up to 10 yrs post close.

Re: Mortgage Duplicate Reporting

Anonymous — Thu, 23 Jul 2020 05:12:35 GMT

Whether it helps AAOA depends on whether or not it’s age is greater than or less than your AAoA. So if you’re AAOA is greater than 10 months, it’s negatively affecting it and bringing it down, not helping it.

Now, as it ages, if you're AAoA ever dips below its age, it would then become a benefit.

Re: Mortgage Duplicate Reporting

MrsDW — Thu, 23 Jul 2020 11:05:27 GMT

Thank you for your reply. It will be one year this Sept that it reported which is the same time my current mortgage reported. I am taking advantage of the VA IRRRL mortgage loan and close next month. So the current mortgage loan will close out as well. Current AAoA is 4 yrs 9 months.

Re: Mortgage Duplicate Reporting

Anonymous — Thu, 23 Jul 2020 14:01:39 GMT

Then the duplicate is hurting your AAoA and needs to be removed, imho.

Re: Mortgage Duplicate Reporting

MrsDW — Fri, 24 Jul 2020 00:41:46 GMT

Thank you for the recommendation. I will work towards getting it removed.