Mortgage shopping gave me a lot of HP

[missambitious]

Hey all,

So i took the advice from reading this board for years and did all of my loan hunting in a short period of time. I took 4 hits in less than a week and thought they would produce "one hp" on my report, but upon the closing of my mortgage the representative went over my credit history with me again and asked what each individual hit was, as they werent labeld as mortgage pulls. 

Now it looks like I tried to hit up a bunch of credit companies before closing my mortgage. I had 2 HP before that fiasco and just did a small card spree, but I believe it caused me to get denied by chase. I am going to call them later today to see if I can find out why or if I can get a recon. 

Is that normal, to get dinged individually and perhaps card companies look at the many apps as one mortgage hit? 

[Anonymous]

Get copies of your reports and confirm that the four inquiries do not appear to be coded as of type "Mortgage."  Make sure that all three bureaus say the same thing too.   If you really want to pursue it, you could call each lender, explain that their inquiry was not coded as Mortgage and that therefore that is hurting your score.  Ask them if they will investigate and recode the inquiry as of type mortgage.

But bear in mind that any inquiry stops having any scoring effect after 365 days.  So another option if you don't have much success with the recoding is just to not worry about it.

It will give you an excuse to stop going on CC sprees for a year, which probably is a good thing anyway.

[StartingOver10]

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@missambitious wrote:

Hey all,

So i took the advice from reading this board for years and did all of my loan hunting in a short period of time. I took 4 hits in less than a week and thought they would produce "one hp" on my report, but upon the closing of my mortgage the representative went over my credit history with me again and asked what each individual hit was, as they werent labeld as mortgage pulls. 

Now it looks like I tried to hit up a bunch of credit companies before closing my mortgage. I had 2 HP before that fiasco and just did a small card spree, but I believe it caused me to get denied by chase. I am going to call them later today to see if I can find out why or if I can get a recon. 

Is that normal, to get dinged individually and perhaps card companies look at the many apps as one mortgage hit? 

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Were they mortgage HP's? 

They should have been coded as such.  If not, do as the pp stated and try to get the HP recoded (if possible).

However, if you were looking for other types of credit, then naturally they wouldn't be coded as mortgage pulls.

Please note:  even if they are all coded as mortgage pulls, they will show as individual HP's. They will be counted as 1 in the calculation of your score if coded correctly, but still show as an individual hard pull.