Yup, that is exactly what I saw. I feel much better about it now. Thank you. Sorry for the confusion. I wonder if that is what the loan agent was thinking as well when she mentioned 40 negatives. I will call her and find out.
Starting Score: 580
I think it was a miscommunication between me and her. I just heard negatives and saw the 40 on the report.
Yup, I was really wondering how I could go from 2 -7 very old negatives to 40 current ones and still maintain around a 650 score. That certainly makes more sense.
Thanks.
Very good! I love it when folks post as much info as possible and you can see what is really going on - that was SO helpful!
As far as the codes go, EX, EQ and TU all use code 40 for a derogatory public record or collection filed.
Code 38 (also used by all 3 CRA's) is serious delinquency AND public record or collection filed. The 38 can sometimes have a greater negative score impact.
Evidently something is showing up on your EQ that is not on the other two that brings your code 40 to a code 38 - which is interesting because EQ is not your lowest score.
At any rate, good work on bringing all the info forward! Very helpful!
ETA: And I'll bet you'll sleep better, too! 
