@DI wrote:
@Anonymous wrote:Anyone with any experience with this?
I know that my new mortgage won't report until after the first payment is made but......
The OLD mortgages have been paid off for 3 weeks and are still not reporting zero balances.
Could it be that BOA and WF wait until after the normal "grace period" to report? (ie: Due on the 1st, late payment as of the 16th, report the 17th?)
I'm dying to pull a FICO CR to see how all of this shakes out for scoring, but holding off until CCT updates the transactions.
Thanks, D-R
It will update as normal. Whatever date your statement cuts, that is the date BOA reports your new balance($0). You can expect to see the update on your EX report first. Normally a day after the new statement cuts.
Well........ that's exactly what I thought. BOA and Wells always cut new statements as soon as they receive payment and I always pay before the due date. The October pmts were both credited on Oct 1 and I had new statements in hand, for November on the 5th. Both were paid off on Oct. 20th. That makes a new normal. Wells has sent the "deed to the ranch" already, and new Mortgage (Pinnacle) has sent the recorded MERS statement. Neither has reported the payoffs to the CRA's.
It just seems odd..... 18 days and not reported. (I'm thinking they're waiting until after the "would be late" date.)
On a side note, about EX. I applied in-store and was approved for Costco Amex on Thursday PM. The inquiry was on EX the next morning. 
They're fast!
Thanks for the response,
D-R