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dispute removal

Highlighted
Established Contributor

Re: dispute removal

Here is the story:

 

1.) FHA, VA and USDA loans - Any open disputes will need to resolved or removed. In order to avoid the inevitable drop in scores after you remove any dispute, I always recommend to simply resolve them. Now, EXP can be idiots! They usually tell the consumer that the comments can't be changed from dispute to resolved, they have to be removed. The other two bureaus are most accommodating. As long as it states, "Dispute Resolved Consumer Disagrees" that tradeline will not flagged for a manual downgrade. Which is required by the Agency and will have no negative impact on the score. You can expect a drop in scores, once you completely remove a dispute.

 

2.) Conventional - All disputes and or comments need to be removed.  The AUS will flag ANY dispute, resolved or not.

 

Best wishes to you!

Mortgage Banker - Since 1988 offering FHA, VA, USDA, Conventional, Jumbo, Portfolio and NonQM Loan Products. Licensed in AL, AR, AZ, CA, FL, GA, IL, IA, IN, LA, MI, MO, NC, NE, NV, OH, OK, OR, SC, TN, TX, VA and WI.
Message 11 of 12
Highlighted
Regular Contributor

Re: dispute removal


@homeloanexpert wrote:

Here is the story:

 

1.) FHA, VA and USDA loans - Any open disputes will need to resolved or removed. In order to avoid the inevitable drop in scores after you remove any dispute, I always recommend to simply resolve them. Now, EXP can be idiots! They usually tell the consumer that the comments can't be changed from dispute to resolved, they have to be removed. The other two bureaus are most accommodating. As long as it states, "Dispute Resolved Consumer Disagrees" that tradeline will not flagged for a manual downgrade. Which is required by the Agency and will have no negative impact on the score. You can expect a drop in scores, once you completely remove a dispute.

 

2.) Conventional - All disputes and or comments need to be removed.  The AUS will flag ANY dispute, resolved or not.

 

Best wishes to you!


Thanks for the info, I ended up just having them removed and it appears as if I received gains on EQ and EX because of it. Earlier in my credit experience I filed silly disputes thinking they would help my score. I filed one on a card because it said closed by grantor and the high balance was above the limit but paid off, and I filed one on another card that also had a high balance that exceeded the limit but also paid off. I'm guessing maybe the comments kept some aspect of those from being scored?

FICO 8. EQ - 669. EX - 696. TU - 694
FICO 9. EQ - 689. EX - 689. TU - 715

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Message 12 of 12
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