But the bullet and applied

[Floridafun]

back in 2010 we moved from Virginia to Florida and had a house that was for sale.  We had a buyer that was ready to buy but B of A with a second mortgage and a line of credit on the house.  We were having the hardest time getting any sort of payoff amount to get the deal closed.  Anyway, we were  behind in payments to 90 days when the house closed in August.  It was a traditional sale.

We have since rebuilt our credit and were never behind on car payments.  But in applying for a mortgage loan last week they did a merged report and said they couldn't lend to us because we had a m-5 on our credit.  Apparently, Experian has that we were 120 days late and a foreclosure was started on the first mortgage on the house in September, when the house closed August 16th.  The other two bureaus have 90 days late and the account closed in August. 

Now, this was done from Regions bank.  We went with them because we want a new construction loan and they are working with the builder and are giving 8000 in closing costs.  Should we go thru a mortgage broker instead?

We have contacted Experian and said that Chase is not reporting correctly but of course that will take 30 days.  Should we just wait the 30 days and then try again?  Just didn't want the double inquiries on the credit too far apart.  

Thanks

[StartingOver10]

Probably better that you wait until you get the reporting of the mortgage cleared up.

First thing to do is contact the CFPB and file a complaint. http://www.consumerfinance.gov/complaint/

Make sure you have the documentation - which would be a copy of the signed final HUD1 from the sale of your previous home and the mortgage payoff prior to the f/c being filed. The CFPB will push the creditor to correct the tradeline more quickly than going through the CRAs.

You should go through a correspondent lender or mortgage banker - not a mortgage broker. The difference between the two is the correspondent lender underwrites and funds their own loans -but they have lots of different lenders to work with and can broker the loan out if necessary. It is the best of both worlds. A mortgage broker doesn't fund their own loans, they just collect the documentation and submit to the actual lender. You can see where this could be an issue.

[Floridafun]

How do I find a good mortgage banker in Florida?  

[StartingOver10]

Check with your family and friends in the area to see who they have used and are happy with and check with your Realtor too.

If for some reason they don't have one to refer to you then PM me and I will give you a couple of referrals to excellent mortgage bankers- I'm a Realtor in S Fl