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Help! Old Collection Re-reported While In Underwriting!!


Help! Old Collection Re-reported While In Underwriting!!

Hello, Please give me some advice!


Okay so I'm probably toast here. I got a credit update this morning from my CMS, it states that RMB Inc. (Medical Collection) for $1523.00 which opened on my experian report originally on 03/2009 and was scheduled to fall off on 06/2012. Its Now reporting a Last Reported Date of 06/2012 and that the date of status is also 06/2012. So now its popping up like a brand new collection as of Today!?!??

I have no clue on what to do because I can't pay it off as I'm in underwriting, I can't dispute it as I'm in underwriting. I've told my LO about this and he said it's a good thing he doesn't have to re-pull my credit and that we need to close as quick as possible. But I asked him, isn't the lender going to do one last pull prior to closing? And he said yes!


I'm at the escalation desk, with a higher Authorized Underwriter at the moment with Wells on a FHA loan which was submitted on May 21st.


What do I do? Thank you...





Message 1 of 7
Frequent Contributor

Re: Help! Old Collection Re-reported While In Underwriting!!

What is the DOFD?

2/24 (Lender Pull) EQ 613, TU 553, EX 589
April EQ 633, My Fico TU 638, EX ??
Current EQ 643, TU 652, EX 633 (lender pull 5/11)
Goal (we made it!!)- Over 640 middle by 5/15
Message 2 of 7

Re: Help! Old Collection Re-reported While In Underwriting!!

Date Opened: 03/2009

Reported Since: 07/2009


Now it shows:


Date of status: 06/2012

Reported since: 06/2012

Last Reported Date: 06/2012

** But it does still say Date Opened 03/2009


Smiley Sad "Here's a snap shot"


Collection account. $1,523 past due as of June 2012.

Date Opened: 
Date of Status: 
Reported Since: 
Last Reported Date: 

1 Months 
Monthly Payment: 

Credit Limit: 
High Balance: 
Recent Balance: 
Recent Payment: 


Message 3 of 7
Senior Contributor

Re: Help! Old Collection Re-reported While In Underwriting!!

m3jonny - I am sorry that has happened to you.


It does say date opened was 03/2009 - IF it becomes an issue with the underwriter, point out that the debt is at least three years old.


Do you have any idea of what the debt is for?  Who the OC is?  My suggetion would be to DV with the CA - then they have to stop all collection efforts until they respond to the DV letter you send.


Keep your fingers crossed!  Smiley Happy

Message 4 of 7

Re: Help! Old Collection Re-reported While In Underwriting!!

IOBA - Thankyou

I'm afraid if I send a DV to the CA they will report it as a "dispute" to the CRA. They can do this at times.

This same exact collection was removed/deleted from my equifax on 5/30/12 when I disputed it originally with EQ. Now that they deleted it off my EQ it shows new on my EXP. weird...
Message 5 of 7
Valued Contributor

Re: Help! Old Collection Re-reported While In Underwriting!!

The date opened, and the DOFD is not the same thing... the date opened is the date the colleciton account was opened with this specific colleciton company. That can change over and over again, if they move the debt to other entities, other collection companies...


The status, report dates, all can change, and have relevancy in some ways with the lender, but the date YOU need to find out is the DOFD -- if it was originally scheduled to fall off 6/12, then that is the same timeframe it will fall off no matter what the DOLA, or the last update is. this is becase they cannot legally change the DOFD.


The reported date of 6/12 and opened date of 6/12 will pose a problem to underwriting. They will consider this a new debt, because they are not experts on credit scoring. Rest assured it is not a new debt.


You need to find out that date, the DOFD. You can only find that out on reports straight from the bureaus. If the DOFD is showing correcttly, and this will fall off 6/12, you might be okay. They are taking a last ditch stab to collect on an old debt, is what it sounds to me.



Starting FICO Score: 10/10: TU 498 | EQ: 502 Current FICO Score(lender pull): 09/14: TU: 784 | EQ: 752 | EX: 784
Collections Removed: Hunter Warfield, CBE Group, Merchants Credit Guide, EOS-CCA, Enhanced Recovery, Portfolio Recovery, UCB, American Collection Company, Medical Business Bureau, Jefferson Capital, Credit Portfolio Associates, FCO, LVNV, Convergent, Armor Systems
Other Negative Entries Removed:Plains Commerce CO, HSBC CO, 2008 Judgment Santander Reposession

Positive Accounts:10/10: 0 | 07/12: 6 | Mortgage Closed 5/12, Macy's AMEX $13900, Citi/Home Depot $8500, Capital One Cash Rewards $3500, BOA $7500 Total Utilization: 3%. AAoA: 2yr, 9mth. INQS: 1 TU, 1 EQ, 3 EX
Message 6 of 7

Re: Help! Old Collection Re-reported While In Underwriting!!

Did they pull again before closing? 

Current Score:EQ-660 (FICO) / TU-677 (FICO) (3/10/14)
6/8/12 Score:EQ-640 / TU-650 / EX-656 (All FICO Lender Pulls 6/8/12)
6/5/12 Score:EQ-640 / TU-638 / EX-656 (All FICO Lender Pulls 6/5/12)
6/1/12 Score:EQ-640 (FICO) / TU-618 (FICO) /EX-670 (FAKO)
Starting Score:EQ-542 TU-574 (4/30/2012)
Message 7 of 7