Pre-approval credit report and score- how long is it good for?

[Anonymous]

We got our preapproval and commitment letter last week, made an offer and are under contract. 

I posted in a separate thread about a paid collection just popped up on the report dropping score below 600. Tomorrow I have some phone calls to get it removed as it was paid before we got notice it was in collections. It’s Verizon. 

I will also update our mortgage originator about this situation. But I’ve read around that credit reports and scores are good for 120 days after preapproval. The lender we are working with is a local bank. I’m not sure what their policy is but I assumed they’d do another check before closing? Isn’t this more common? I figured I’ll let them know now before they do another random check and see the dramatic drop and a collection. Otherwise everything is perfect. 

[JVille]

Hummm hold off for a few days before notifying the lender. See if you can just get Verizon to have sympathy, remember you didn’t even know about the bill and paid it as soon as you became aware. To turn it over to Collection so fast seems unusual.

[Anonymous]

No luck at all. Every single supervisor has been stearn that there is no way to remove it. I’ve sent some emails. Not sure where else to turn to get this fixed soon. 

[capricornchanges]

My lender told me that my mortgage score was good for 120 days as well however was just informed that they will pull next week to be sure I had an obtained any new debt my first credit was pulled March 24

[Anonymous]

Do you know if they get a lower score they’ll use that one instead?

We are meeting with a different lender today that gave us a Pre-Approval last week . I don’t want to bring up the score drop if they don’t check again but I want to ask in a non suspicious way.

How would I do that?