My wife and I are preparing to apply for a sizable jumbo mortgage. My credit scores are currently in the 820's. My wife's are around 750, and I know the bank will likely look at the lowest-middle score (right?). It appears that the only thing hurting my wife's score are two 30-day late payments, one in January 2013 and one in Janiary 2014. These were for a Costco AMEX that auto-renewed after we thought it had been cancelled and we couldn't get to connect to our online account (it is now closed) . I have a SPG AMEX that I have used almost monthly since 2007 on which my wife is an Authorized User and we have never had a late payment on it. My wife also formerly had a business AMEX with no late payments (her company since changed to Chase so she no longer has it).
My question is what does everyone think the chances are that we can get the late payments GW'd? I believe strongly that without them, my wife's scores would be over 800 as well and we would be in line for the very best mortgage products out there.
Not all jumbo lenders use the lowest mid score of all applicants, some will use the mid score of the primary wage earner. Just depends on the guidelines.