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Can disputes interfere with loan?

Regular Contributor

Can disputes interfere with loan?

Can disputing items on my reports cause any issues or delays in the preapproval or underwriting or closing process? Thinking of disputing things but I’m in midst of getting a preapproval for conventional or fha loan.
5 REPLIES
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Established Contributor

Re: Can disputes interfere with loan?

Disputing items on your CR just masks the score (anything in dispute isn't counted against you) and AUS will pick up on that and certainly a manual underwriter when it passes their desk.  They will ask you to have no disputes going through the process.

" EX 683 EQ 691 TU 687 MMS 689"
Message 2 of 6
Regular Contributor

Re: Can disputes interfere with loan?

I currently have a few items in dispute, just last week I started. Since the CRAs have to investigate by 30 days, will my scores I assume be unmasked after the dispute ends in 30 days? I feel the need to dispute is necessary yet at same time I don’t want to delay any preapproval
Message 3 of 6
Frequent Contributor

Re: Can disputes interfere with loan?

don't forget that the creditors have 15 additional days (according to FCRA) to update the information being reported to the bureaus too.

__________________________________________________

Licensed NC Mortgage Loan Originator
Message 4 of 6
Established Member

Re: Can disputes interfere with loan?

Disputes effects your FICO score. As we know that, a good FICO score enables us to get a loan easily.

Learn, Implement, Conquer
Message 5 of 6
Established Member

Re: Can disputes interfere with loan?

I’m lost why are all the posts saying you have to have disputes removed if the FHA guidelines say...

Disputed Derogatory Accounts < $1,000

A downgrade to a manual underwrite is not required if the cumulative total of and disputed account(s) for all borrowers is < $1,000.

I have three disputed accounts all with 0$ balances they were just not changed in the comments section on the CR.

The different comedy’s confuse me. My fiancé and I were given our pre approval once I paid the collections and charge offs and we just finished our mortgage application.
Message 6 of 6