Questions about lender pulls and how it will impact score

[Anonymous]

I had a lender pull my credit two days ago but I am not sure that I am happy with the service I have received.  It seems that she is too busy for me.  She told me she would give me a call shortly via email several times and then she had her assistant call me that afternoon.  I gave the assistant my info and they ran the credit.  They were going to review and call back but never did.  The next day I sent an email in the early am to lender.  She said that she would call me a bit later once again.  I have yet to hear from her and that was yesterday.  I am frustrated, I know she is busy but being that I have not spoke with her even once in three days seems a bit unreasonable.  I would hate for all of this to be happening in the middle of closing etc.  

My question is this.  I know that there is a certain time frame that a mortgage lender can pull your credit and each pull only counts as one inquiry but does it also work the same way if I have another lender pull my credit?  I mean if I apply with another lender today will it still count as the same inquiry that the other lender pulled?  Or do you have to take a hit from each lender?

[Booner72]

The inquiries will SHOW UP, but it won't affect your score if you do it again within 14-45 days, depending.

This is a huge sign that she is going to be a LOSER loan officer.  You're right to walk away.  When things start getting hairy you are going to want someone that returns your calls/emails and follows up on their word.  You should be able to get a copy of the three-in-one they pulled already, and you can take that to the new LO, but eventually the new LO will have to pull anyway.

If you need referrals, ask.  If you are in Oregon I can hook you up.

My LO talked to me every single day. sometimes more than once.  You shouldn't have to put up with that and I'm mad for you!

[Anonymous]

Thanks for your response.  I am in Florida.  I was referred to this lender by my a realtor.  The lender mentioned in an email that when she called me the next day we would go over everything and she would send me my reports (that was supposed to be yesterday).  I don't want to be rude and complain to my realtor but yes I do feel that I am no where on her priority list.  I am sure the lender has good intentions but if you are that busy you should know when to refer to other lender etc.  

The other thing I did not mention is that the "assistant" that she had call me seem extremely uneducated in the credit repair process.  We were going over my scores and I mentioned to her that I had a charge off deleted and was working on getting another one deleted.  She interuppted me and kind of giggled before saying, "You can't have an account deleted from your credit report".  It was so hard to hold my tongue.  I just want to go show her my credit report before and after and the letter that Chase sent to me advising they dismissed my debt and would be advising CBR's to remove account.  GRRrrrrr.  It is one thing to not know something but don't laugh at me and treat me like I am stupid.  You have to have an open mind to learn anything.  

[boomhower]

I wouldn't walk away, I'd run.  This is the easy part and if she is this difficult to work with now it's going to be a nightmare when it gets to the hairy parts.  Go and find another one that cares for your business.  You can still deal with the lender, just find a different LO.  I have a local branch for my lender but am dealing with a LO that's over two hours away on a recommendation of my realtor and I couldn't be more pleased.  She has been wonderful to work with and emailing/faxing docs hasn't been an issue at all.  A good LO is vital to the proceess, it can't be overstated.

[frogfan12]

I agree with the other posters. You don't want to deal with someone who is "too busy" to help you. As the customer, you are the one with the power. If they don't close a deal, they don't get paid. And I think you should kindly walk away and send that message to the busybody who refuses to conduct themselves in a professional manner.

[Booner72]

Be prepared to know more about your FICO than even your Loan Officer.  It's the nature of the beast for those of us that have spent hours and hours learning about credit.  My LO sometimes still emails me questions on advice for her clients.

I got my LO on referral from the agent.  Dumped the agent but kept the LO.  She was so great to me that there was no way I was going to leave her in the dust.  The agent told her that she better not loan me money after I dumped the agent!

I've read of other members here interviewing lenders before getting into a relationship w/ them.   Take in a list of questions and a copy of your reports to the interview.  See how much they know. See how the vibe is between you.  This process could take months and you need someone who has your back.  Someone who will go the extra mile and will get that deal done, and someone who will reassure you and keep you in the know as things happen.

Good Luck!!!

[Sunshine85]

I agree with the previous posters....drop this LO and move on to another, and don't worry about hurting your realtor's feelings or being rude. If anything, the LO should  be apologizing to you for not returning calls and sending you your credit reports as promised. You have concerns about the LO's assistant, and rightfully so, which is another red flag. A good LO and/or realtor can make the home buying process a pleasure or a nightmare, and it sounds like you have the makings of a nightmare.

[jaypeedee]

I know little about the mortgage and banking business.  But I know very much about the customer service business.  As many have already said drop her like shes hot.  When someone is about to write you a check for house money and they cannot even respond to an email excusing their absense and lack of phone calls....RUN!!!!!  Also I would not accept refferrals of LOs or realtors from one or the other.  Treat them seperately and find them seperately.  Rarely is someone trying to help you AND take your money at the same time.  good luck.

[my25reasons]

Depending on your credit score, having another lender pull has minimal impact. Generally, a credit score has to be over 630 to qualify for a mortgage (though this may change depending on where you live). If your credit score is close to the low mark, I would wait and build some credit up first. However, to answer your question, another pull should not affect your score as long as it is within a few days (30 days when I checked into it) of the last pull and from the same type of lender. If you wait longer, the impact is only a few points, but this could put you under the minimum if your score is already low.