Mortgage mid score advice

[Anonymous]

@AllZero There was no change to the mortgage scores when hard inquiries appeared on all 3 reports, so it might have very negligible impact when these inquiries get past the 365 days mark.

My 90 days late is with Capital one, and I will put all my efforts on GW Saturation to get this 90 days late removed. Same with my multiple 60 days lates

Thank you all.

[Revelate]

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@Anonymous wrote:

@AllZero There was no change to the mortgage scores when hard inquiries appeared on all 3 reports, so it might have very negligible impact when these inquiries get past the 365 days mark.

My 90 days late is with Capital one, and I will put all my efforts on GW Saturation to get this 90 days late removed. Same with my multiple 60 days lates

Thank you all.

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The question really is how many of those inquiries are on EQ as your current mid score?

I'm assuming you have the subscription service here, list out the reason codes for EQ FICO 5 but if they're on EQ I'm betting you have Seeking Credit (or some facimile of that, I forget the exact translation here) as one of them and that's an inquiry penalty which might carry you over 700 on that score.

I don't know if I'd reduce my downpayment to 5% while paying off more of the loan, my own data which was very closely tracked in the derogatory scorecards at the time suggested only EX FICO 2 cares about it, but there was at least one other (probably different scorecard than I or you at the time) that saw differently.  In this case though an EX FICO 2 improvement doesn't do you any good as it's already over 700.

[Anonymous]

@Revelate Thank you for the analysis. The EQ has all the 3 inquiries. And it is reflected in the the factors mentioned on my EQ FICO 5:

• You have a serious delinquency (60 days past due or greater) or derogatory indicator on your credit report.
• You have one or more accounts showing missed payments or derogatory indicators.
• You've recently been looking for credit.
• You have a consumer finance account on your credit report.

So, do impact of these inquiries drop off after 365 days or is it much longer? Also, is there anything that can be done for consume finance account factor on EQ FICO 5? ( I have a Macys card opened 12 years ago)

[Revelate]

365 days (maybe 366 we are seeing some leap year weirdness this year).

Back on my first mortgage for EQ FICO 5 going from 3 to 2 scoreable inquiries was +7 points 693->700.  I actually ocilated between the two as prior inquiries faded and new ones from the mortgage inquiries going beyond 30 days exactly moved the between these two points so if you have an inquiry or two coming off that might get you to 700 there if all are on EQ and your reason codes explicitly state they are hurting you.

Consumer Finance Accounts (CFA in forum speak) are I think are always loans not store cards.  I actually have one of those two and unfortunately it stays on a report for all 10 years from closing but it also doesn't hurt that badly.  I got to EQ FICO 5 of a 798 with a CFA when otherwise squeaky clean (except maybe my installment utilization) and the max score there is I think 817 and my file isn't godlike.  CFA therefore doesn't hurt that badly imo.

For all the tips and tricks to get a negative tradeline off it is extremely hard to get a positive one off.