Chexsystems?

[dc11]

I've seen a couple posts on here saying you can still get a morgate loan while being on Chexsytems.

I wanted to put this question out there again... I'm in the middle of purchasing a home via FHA and am worried about Chexystems causing my loan to fall through. I haven't mentioned this to my mortgage broker.

Is this something I should be concerned about?

Thanks

[cartwrna]

I do not believe they check/run chexsystems. IMO you should be perfectly fine. Unless the bad check shows on your credit reports, which back in the day they used too. When I was 16 I wrote a few bad checks on an account my mother helped me open. I had around 4 collections from that fiasco all ranging from $15-50. My Chexsystems is clear now though and those collections are a thing of the past.

[Anonymous]

Just found out today that the lender I use ran Chex Systems and something for $131 showed up for my wife and I.  They require an account at their bank and this could derail the whole loan.  The thing is this there is no bounced check and its an error.  They say it takes a few weeks to remove.  This is total BS.  I had no idea about this Chex Systems place until today.  No idea that I could even check my record.

Lending officer is hoping that the under writer will allow an excetion to having an account there.  Totally pissed as we are only a week from closing.

[dc11]

Wow I'm sorry to hear that... I hope everything works out. Is that unusual for a lender to require having an account with them? I never even thought of that. Who is your lender if you don't mind sharing?