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Credit Reporting On New Mortgage

Your FICO® Scores can impact your loan interest rates, terms, approvals and more.
Regular Contributor

Credit Reporting On New Mortgage

Hello---can anyone tell me what timeframe I should expect on my mortgage being reported to the credit bueras? I closed on May 31 of this year. The loan was sold to Wells Fargo in mid June. I made my first payment to the original lender on July 1st as instructed. My second payment was made directly to Wells Fargo on August 1st. My next payment is due September 1st.

 

This is my first mortgage so I don't have anything to compare it to but it feels like it should have showed up on my reports by now. Is this normal?

 

 

Message 1 of 5
4 REPLIES 4
Established Member

Re: Credit Reporting On New Mortgage

I also closed on May 31st. My July and August payments were made to the original lender. My third payment was made to Chase (just today). My mortgage has just reported  on my credit reports within the last 7 days. I think it's normal for it to take some time for the new mortgage to report.

Message 2 of 5
Established Contributor

Re: Credit Reporting On New Mortgage

I'd imagine it's different for each lender, but my NFCU mortgage reported approx. 3 weeks after close.


CURRENT FICO 08: EQ: 751 / TU: 772 / EX: 771
Message 3 of 5
Regular Contributor

Re: Credit Reporting On New Mortgage

Still waiting....

 

i had had called Wells Fargo to discuss my escrow because the tax assessment went significantly down due to an appeal. It changed my escrow payment about 100 dollars per month. Score.

 

While I had them on the phone I asked about credit reporting and they said 60 to 90 days is the timeframe. This was almost a month ago.

 

in fact I'm coming up on four months since closing. Wells Fargo bought the loan in mid June. Either way it's been well over 90 days and not a peep on my reports.  Aye it's a hidden mortgage haha.

Message 4 of 5
Super Contributor

Re: Credit Reporting On New Mortgage

varies a lot.

 

i have heard pretty fast and sometimes more than 3 months.

 

it might have to do with them deciding on if they will keep it or sell it

 

 

Retired Lender
Message 5 of 5