topic Re: Check my credit and it dropped in Mortgage Loans

Check my credit and it dropped

Anonymous — Wed, 24 May 2017 11:07:02 GMT

Started the process in March went through underwriting , underwriter sent conditions i met them. Then the underwriter kick it bAck to my loan officer and said the case number expired. Took a week for a new one the file goes back to underwriter. Underwriter kicked it bAck to the loan officer and said since the appraisal was done on the old case number you need a new appraisal. The loan officer rarely returns phone calls or emails the seller, realtor and myself are so frustrated. Fast forward it's about to be June and i notice my credit score has plummet at least 41 pts. When I first had it pulled the loan officer said they only run one check. I'm worried i went through this whole process for nothing. My Pre approval expired the end of June. I'm worried anyone been through this.

Re: Check my credit and it dropped

Anonymous — Wed, 24 May 2017 11:26:53 GMT

It sounds frustrating.

You haven't given us any data points from your credit report. You are actively paying for credit monitoring with MyFico or CCT, correct? If so, post the changes and we can help you figure out what went wrong.

Last month my credit score fell 20 points because I paid all my credit card balances to $0. This is a known flaw in FICO scoring -- you can NOT pay off EVERYTHING to $0 or you will get a +/- 20 point FICO hit. Ouch. Other things can also cause a FICO score to drop about as much as 20 points (such as paying off your only remaining installment loan to $0 and not having any other loans reporting).

Re: Check my credit and it dropped

Anonymous — Thu, 25 May 2017 16:08:44 GMT

Ok so my score was borderline to begin with at 624 middle. I have cct score at 661 exp 655 equifax transunion 645. I also have equifax through credit bureaus that said 583 which indicates a 41 drop. I believe this to be true because before it match what the lender told me my score was at time of approval. The equifax read 624 and that's what the lender said my middle score was. I have Bern using credit cards because my bank cards were both victim of identity theft and i was at the counter at the time with no cash on hand. I'm worried they might repull my credit. What can i do until or if i close

Re: Check my credit and it dropped

Anonymous — Thu, 25 May 2017 16:11:15 GMT

No one here can give you advice without knowing what's being reported on your reports now that is different from when you pulled them before. You can use the CCT $1 trial again to pull new reports and tell us what changed.

Re: Check my credit and it dropped

Anonymous — Thu, 25 May 2017 16:14:08 GMT

In addition My cct credit score when I applied for approval was 660 equifax experian 655 and transunion 659. New scores are 655 equifax, experian 661, transition 645

Re: Check my credit and it dropped

Anonymous — Thu, 25 May 2017 16:16:43 GMT

Oh then you have nothing to worry about. 1% fluctuations happen.

Re: Check my credit and it dropped

Anonymous — Thu, 25 May 2017 16:35:02 GMT

But what if 583 is actually the middle score. I'll be doomed if they rerun before closing. I am paying it down tomorrow what I used

Re: Check my credit and it dropped

Anonymous — Thu, 25 May 2017 16:38:03 GMT

You literally just wrote what your new scores are from CCT, so ignore Equifax's score and look at CCT's new scores. When did you pull the new CCT scores?

Re: Check my credit and it dropped

Anonymous — Thu, 25 May 2017 16:39:26 GMT

Same day i pulled equifax..lol

Re: Check my credit and it dropped

Anonymous — Thu, 25 May 2017 16:41:23 GMT

You are offering absolutely zero information for us to help you, which is why no one else is responding.

Please give some actual details: when did you pull CCT the first time? Give us a DATE. When was the new pull of CCT and Equifax? Give us a date for that.

Now, the score that Equifax gave you, does it say FICO score on it? If not, what does it say?

Re: Check my credit and it dropped

Anonymous — Thu, 25 May 2017 16:43:01 GMT

I ran both on May 23. Sorry if i was unclear

Re: Check my credit and it dropped

Anonymous — Thu, 25 May 2017 16:44:44 GMT

Well again you haven't answered my questions in any way, shape or form.

Good luck with your mortgage, I can't waste any more time on this thread if you want to not answer simple questions.

Re: Check my credit and it dropped

Anonymous — Thu, 25 May 2017 16:47:54 GMT

I just looked it doesn't say fico for equifax. It just the score.

Re: Check my credit and it dropped

Anonymous — Thu, 25 May 2017 16:48:51 GMT

Then ignore it. If a credit score does not say "FICO" next to it, it isn't FICO. It's a FAKO. Not a score you ever need to worry about. Equifax sold you a junk score whereas CCT sells you real FICO08 scores.

Re: Check my credit and it dropped

Anonymous — Thu, 25 May 2017 16:48:52 GMT

Thanks abcd2199 for responding

Re: Check my credit and it dropped

Anonymous — Thu, 25 May 2017 16:50:04 GMT

I appreciate you. I guess, I was just worried.

Re: Check my credit and it dropped

Anonymous — Thu, 25 May 2017 16:51:56 GMT

Hell I would freak out, too. In fact, I would probably report Equifax's bullspit "credit score" to the CFPB for giving me a heart attack.

Re: Check my credit and it dropped

Anonymous — Thu, 25 May 2017 16:55:34 GMT

Just putting up with a lender that don't answer calls or emails it's crazy. One of her colleagues asked me "if i closed yet". I replied no. She answered.. why not?. She said she was going to reach out to her today. Maybe she can find out what's going on. My realtor calling asking have i heard anything, we all just waiting.

Re: Check my credit and it dropped

cmony787 — Thu, 25 May 2017 17:52:48 GMT

Keep in mind the CCT scores are FICO8 and are not the FICO mortgage scores.

To get those FICO Mortgage scores you need to request a 3B report from myFico...no where else can provided these