I posted in the mortgage category in regard to if my credit will be pulled again before final closing (4/21)...
My story is this: I've never had a collection or negative credit history aside from 3 different 30 day late payments from credit cards. We began the home buying process 2/24, found the home me wanted in early March, they accepted our offer, and all of the other steps have been going smoothly. We got Clear to Close on our loan on 4/7, set up signing for 4/18 and final walk through for the same day, funding and recorders office on 4/21. Well, on Thursday of last week I got a myFICO alert that there was a change to my report. I go look and a collection that I was completely unaware of was reported and dropped my general score 41 points and my.mortgage score by 70 POINTS. The debt was apparently from 2 years ago when I was pregnant with my son and my insurance didn't pay the $130 balance. I began freaking out and called the collection agency within 2 minutes of the alert coming up and told them I needed to pay to delete and took care of it. I contacted the collection agency yesterday to see if they sent my deletion letter yet and they confirmed that last Friday the sent the deletion to me via mail and to the CRAs. They told me the CRA'S have up to 30 days to update, but they usually take 10-14 days or less to take it off.
my husband contacted our loan officer to see if they would be pulling anymore reports on us and he said no and they have monitoring on our accounts that will alert them if we apply for any new credit, but that is all it is checking for and as long as we don't do something stupid like applying for a new car or buying expensive stuff we will be fine. Our credit reports are not yet past their expiration date; however, I worry that something will happen on closing day.
Is there a way I can contact the CRA's directly to speed up the process of the deletion in the event they do pull something? I don't think I'll feel better until I know it's fully off.
My story is this: I've never had a collection or negative credit history aside from 3 different 30 day late payments from credit cards. We began the home buying process 2/24, found the home me wanted in early March, they accepted our offer, and all of the other steps have been going smoothly. We got Clear to Close on our loan on 4/7, set up signing for 4/18 and final walk through for the same day, funding and recorders office on 4/21. Well, on Thursday of last week I got a myFICO alert that there was a change to my report. I go look and a collection that I was completely unaware of was reported and dropped my general score 41 points and my.mortgage score by 70 POINTS. The debt was apparently from 2 years ago when I was pregnant with my son and my insurance didn't pay the $130 balance. I began freaking out and called the collection agency within 2 minutes of the alert coming up and told them I needed to pay to delete and took care of it. I contacted the collection agency yesterday to see if they sent my deletion letter yet and they confirmed that last Friday the sent the deletion to me via mail and to the CRAs. They told me the CRA'S have up to 30 days to update, but they usually take 10-14 days or less to take it off.
my husband contacted our loan officer to see if they would be pulling anymore reports on us and he said no and they have monitoring on our accounts that will alert them if we apply for any new credit, but that is all it is checking for and as long as we don't do something stupid like applying for a new car or buying expensive stuff we will be fine. Our credit reports are not yet past their expiration date; however, I worry that something will happen on closing day.
Is there a way I can contact the CRA's directly to speed up the process of the deletion in the event they do pull something? I don't think I'll feel better until I know it's fully off.
An update for anyone who finds themselves in a similar situation... Veterans United never did a second pull of my credit. After contacting the collection agency and doing a pay to delete it took the CRA's about a week to get the info off my credit reports, expect TU, which took about 1.5 weeks. We did signing on Monday and we are funded today and our documents will be with the County Recorder this morning. 
@RobertEG wrote:I would never recommend contacting a CRA regarding a pay for delete.
Let the debt collector report without any notice to the CRA of why it is being deleted.
PFD deletions are contrary to CRA policy.
Contacing them and explaining that a debt collector has agreed to delete notifies them that the expected reporting is being made contrary to their policy.
That could jeopardize both the deletion and the debt collector's reporting agreement with the CRAs.
Interesting and great data point that I never thought about RobertEG.
