It’s been a wild ride for the past 7 years starting with me and my wife going from stable and solvent to both being laid off, getting divorced, losing the house, and letting every loan go into major delinquency. Today marked the first falloff of my foreclosure and my first huge increase in scoring.
Inspired by JagerBombs89’s epic chronical about going from over 800 into foreclosure and back, I am creating this post to track specific falloff points to determine when, how, and by how much certain events can suppress a score. I want to say again that my main focus here wanting to highlight when and how information falloff is handled by the 3 CRAs. These DPs are a little thin on the forum.
1/20/21 Event: 2 foreclosures being removed from Experian.
DOFD: 4/2014
Last Day of String: 11/2014 (unbroken string of lates)
Fall Off Notes:
- EX report listed both mortgage accounts will be removed 1/21; both removed from report 1/20/21. This is not consistent with other DPs I have seen on the forum being 2 full weeks and three full weekends into the month.
- EQ report lists the same late dates, 4/14 late has been removed from that report on 1st mortgage, 2nd Mortgage has been totally removed although it was not showing any lates, just the CO.
- TU report lists the same late dates for both mortgages, no change to any mortgage accounts.
Remaining Negative Information: There should be 30 student loan lates on the EX report, but they have not been showing up on my EX report since those 30 lates on 3 different loans vanished for no good reason in September 2020. This report is now showing 100% clean (unlike EQ and TU).
Scores (EX):
FICO 8: 713 -> 796
FICO 2: 727 -> 807
Auto 2: 763 -> 841
Auto 8: 741 -> 816
Bankcard 2: 734 -> 835
Bankcard 3: 720 -> 811
Bankcard 8: 726 -> 808
FICO 8 (EQ): 710 -> 711
FICO 8 (TU): 726 -> 731
2/6/21 Event: 1 foreclosure being removed from Equifax and Transunion.
DOFD: 4/2014 (Both)
Last Day of String: 11/2014 (unbroken string of lates)
Fall Off Notes:
- TU report lists 1st mortgage falloff 2/21; removed from report 2/5/21.
- EQ report lists 1st mortgage DOFD as 4/14, removed 2/6/21.
Remaining Negative Information: 2nd Mortgage CO still on TU listed to be removed 3/21. EQ has no remaining mortgage accounts listed. ~30 lates on 3 different student loans remain on EQ and TU.
Score Changes (EQ & TU):
TU FICO 8: 731 -> 731
EQ FICO 8: 711 -> 725
4/4/21 Event: 1 Student Loan Late being removed from Equifax.
DOD (Late payment with more payments afterwards: 7/2014 (removed 4/4/21)
Last Day of String: 8/2014 (unbroken string of lates)
Fall Off Notes:
- EQ report listed a string of 3 lates from 6/14-8/14 with positive payments after; removed 4/4/21.
Next event will be last SL Late from a string of 3 on EQ. All 3 still remain on TU report.
@Anonymous wrote:
Were the SL lates a string of lates?
You could also request EE from TU for the FC(s), if you are so inclined.
The thought with EX is that basically they will get around to removing accounts at basically any point during the month listed for "on record until". The DPs are all over the place for when they decide to drop those TLs. Although, technically, 3 full weekends and 2 full weeks did pass before yours did finally come off.
Excellent questions!
These falloffs were 2 mortgages in foreclosure/chargeoff; yes- unbroken strings of lates.
I could request EE, but I've decided not to request EE on any of my baddies to document the specific falloff dates and see how to items fall off over time and by CRA. This is a controlled data gathering push to acquire more precise DPs.
As for EX falling off, I've seen a few posts that say one week plus one weekend. I'm just looking to document exact dates and offer possible guidelines as to when things drop either based on date or on more abstract things like first week/first weekend.
Updated the main post with new information.
TL;DR: Wells Fargo fell off EQ and TU. EQ now just has ~30 late SL payments against 3 loans; TU still has the Citimortgage CO until next month. EQ up 15; TU remains flat.
@Anonymous wrote:Just curious, was the age off date from aCMSS alert or doing anACRR3BB (or other source)CRR pull?
When SO had 1 of his 2 COs EE'd, he also saw +0ptss score gain onTUU (also has 29SLLlatess). I am thinking that after the2ndd CO comes off is when he will see the score boost.
I'm using the dates that I got the CR Update push notice from MyFICO as the Age Off Date for data points. As for when they are supposed to drop off date, that's from ACR.
I suspect that TU will jump once the Citimortgage CO goes away. I wasn't totally suprised to see no change since I'm pretty much maxed out on my score for having a CO present with other 120+lates. My DPs are consistent with other DPs that a CO would supress around 85 points.
What will be interesting to me is what the other lates are holding it back. I couldn't get that data from EX since they magically excluded all my SL lates back in September and I only got about 5 points back for that with 2 foreclosures still on record. My guess is that it will be similar to my EQ rebound of about 15.
Updated the main post with new information.
TL;DR: I have a string of 3 SL Lates on TU and EQ from 6/14-8/14. EQ is dropping the lates off 3 months in advance, TU has not dropped any of them yet. This string of lates has positive payment information after the string (even though I know I wasn't paying or in rehab/forbearance). Scores update on the 9th so I didn't post any changes.
Haven't posted an update for a while because there was about 10 months of wait between the next set of events. Tried to update the 1st post but it won't let me.
March 2022 update:
On the first Sunday of February we saw the May 2015 late payment fall off of EQ leaving me with 8 remaining from June-January. Based on prior data I suspect that these are all going one at a time until the last falls off in October. EQ8 went up 2 points. This was probably credit aging and not the loss of 1 or 9 late payments.
Took an EE on all 9 lates on TU because I could. TU8 went from 761 to 804 and is now clean.