Question about inquiry on my report.

manders626 · ‎08-10-2007

I received a credit score alert today that someone had made an inquiry on my credit, which was done without my permission. What can I do to remove it, or can I do anything at all?

fused · ‎08-10-2007

manders626 wrote:
I received a credit score alert today that someone had made an inquiry on my credit, which was done without my permission. What can I do to remove it, or can I do anything at all?

Who pulled your credit?

manders626 · ‎08-10-2007

I know who did it, I just want to know if there is anything we can do about it. My husband and I are shopping around for a mortgage. We already had a credit report pulled through one lender and took that report to another lender so they could review it and give us rates. They turned around and ran another report without asking our permission causing my score to drop nearly 6 points, which depending on the score, can make or break a rate.

fused · ‎08-10-2007

manders626 wrote:
I know who did it, I just want to know if there is anything we can do about it. My husband and I are shopping around for a mortgage. We already had a credit report pulled through one lender and took that report to another lender so they could review it and give us rates. They turned around and ran another report without asking our permission causing my score to drop nearly 6 points, which depending on the score, can make or break a rate.

Did you sign anything when you and your husband sat with the second lender? Which CR is showing this 2nd inq?

manders626 · ‎08-10-2007

We didn't sign a thing, we didn't even meet with this guy. Our Realtor, who is a friend, looked at our good faith estimate from the first mortgage co. and said that she knew of another lender who could probably get us a better rate. She faxed over the good faith estimate along with our credit report and that was it.

fused · ‎08-10-2007

manders626 wrote:
We didn't sign a thing, we didn't even meet with this guy. Our Realtor, who is a friend, looked at our good faith estimate from the first mortgage co. and said that she knew of another lender who could probably get us a better rate. She faxed over the good faith estimate along with our credit report and that was it.

Since you did not sign anything or give verbal authorization (as is the case when applying for a CC over the phone), this lender did not have PP (permissible purpose) to pull your credit. Legally speaking, how far do you want take this?

manders626 · ‎08-10-2007

I want to do whatever is necessary to fix the damage. I don't really want to make this that big of a deal, because it may hurt a relationship with my realtor, but I don't want to be screwed in the long run either.

fused · ‎08-10-2007

manders626 wrote:
I want to do whatever is necessary to fix the damage. I don't really want to make this that big of a deal, because it may hurt a relationship with my realtor, but I don't want to be screwed in the long run either.

This extra inq(s) will not hurt your scores. With the "de-duplication window", FICO looks at your history for the last 12 months, and when it sees two or more hard inqs for the same type of mortgage or auto loan within a two-week period (I think it's 30 days now for mortgages), it will ignore all but one of them as far as scoring is concerned. As a side note, FICO doesn't treat credit card inquiries like this, BUT THEY SHOULD!!!