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Everything posted by seanote

  1. No, it’s still within the SOL. I plan on adding some verbiage regarding not being able to sue me, anything else specific I should include?
  2. The OC is the only one reporting the account. They’ve agreed to report the account as paid - satisfactory, so stop reporting as charged off. They agreed to provide me something in writing prior to me sending them a payment— I’m asking what exactly should be included in the written agreement?
  3. I’m dealing with an older Ally Financial charge off. After speaking with a dozen reps, I emailed a higher up. Today, I received a call from a manager — he said that they were willing to accept 40% of the charges off amount, and they would update the trade line as paid in full, and remove any reporting of the charge off status. I asked the manager if he would provide it in writing, and he agreed. I have to wait at least 24 hours before a payment can be accepted because the account has to be updated internally. I’m not going to pay it without a written agreement. What po
  4. I'm a licensed mortgage originator and can confirm Fannie Mae nor HUD require an installment trade line. General underwriting requirements are that when a tri-merge credit report is pulled, there is enough information within the report to generate a score. Most lenders have an underwriting "overlay" that there are a minimum of three open trade lines, reporting as individual and satisfactory.
  5. I didn't dispute with Innovis, the derogatory tradeline wasn't reporting on my report. I did send the initial disputes CMRR.
  6. So, I disputed a charge-off that appears on my Transunion, Experian, and Equifax reports. All three bureaus verify the tradeline. I follow-up with a "Method of Verification" request to all three bureaus, sent via USPS certified mail (text of MOV letter is included below). Instead of replying to the MOV request, all three bureaus open a new dispute into the tradeline. After more than 30+ days without a response, I filed complaints with the Consumer Financial Protection Bureau against all three bureaus. The CFPB complaints were filed on 5/11/20; Experian and Equifax have not responde
  7. Hi @shifter I received the complete account history from the client, which was provided by BMW Financial. All four of the payments posted and were applied to the account on the first of each month following the payment due date of the second of the prior month. Even though there were never two payments outstanding at the same time, BMW reported two of the four payments late because the due dates for those two payments fell in a month with 31 days, so technically the payment on the first of the month was exactly 30 days past the due date of the second.
  8. Looking for some guidance on what date a furnisher can report an account 30 days late. I’m a mortgage broker, and I have a client that has two 30 day lates on an installment account (auto lease). The furnisher, BMW financial, has reported two 30 day late payments over the past 33 months of the lease. The monthly payments are due on the 2nd of each month; four times over the past 33 months, the client has made their payment that was due on the 2nd of the month on the 1st of the following month. Out of the four late payments, two of the due dat
  9. Hey nolimits, I'm a loan officer, and based on the rate you posted that you've been quoted, it sounds like the lender that provided it to you is qualifying you through a portfolio loan product, rather than a Conventional product (Fannie Mae or Freddie Mac) or an FHA product. I'm not sure why, but since you mentioned that you are self-employed, I am assuming that your debt-to-income ratio won't qualify for a Conventional product, which is common with SE borrowers, as they take the IRS deductions that they're eligible for. I'd suggest you ask exactly what kind
  10. I'm a loan officer, and based off of current interest rates, YTD, as well as the fed announcing that they're not anticipating to hike rates for the remainder of the year, 3.875% in the near future doesn't look likely. I copied & pasted the "back-end" lender rates below. This is called "raw pricing", before there are any margins added and passed on to the consumer. Based on today's rates, the "par" rate is 4.125%, and your target rate of 3.875% has a cost of $970 for every $100k borrowed just to get to par. Fannie 30yr Fixed (04/19/19) Rate 30-Day Loc
  11. Hi ronkar, I'm a mortgage banker, and the waiting period to obtain a home mortgage varies, depending on what agency you're obtaining your mortgage from. The USDA waiting period after a foreclosure, short sale or deed in lieu is 3 years. The FHA minimum waiting period is 2 years. The waiting period for a Conventional home loan, either Fannie Mae or Freddie Mac, was previously 4 years, but both Fannie & Freddie reduced the waiting period from 4 years down to 2 years, as long as the foreclosure, short sale or deed in lieu was an extenuating circ
  12. Thanks TampaDude... I'll read through that section of the FCRA.
  13. I am disputing a few public record negatives; a fed tax lien, state tax lien and a paid judgement. I did dispute one of them previously, and it came back as verified. The local county courthouses do not respond to credit bureau verification requests, and I know that EX/EQ/TU pull public record info online from LexisNexis or some other source when these accounts are disputed. My question is, once my disputes come back verified, should I just request a MOV? Is there verbiage in the FCRA that states that the bureaus must verify the info directly with the entity that is listed on the cred
  14. I already have a Barclay's US Air MC - can I apply for a second one?
  15. I just called Capital One 360 customer service - the rep told me that you can only receive one $100 bonus...can anyone confirm that they received both bonuses. Also - did you have to apply for the checking & savings separately? If so, what did you apply for first - the checking or savings account?
  16. I have a Lowe's store card with a $12k credit limit. I'm called them today to add somebody as an AU to my account. The only info they required from me was the AU's name. I asked them if I could provide their SSN, and also if my account history would report on the AU credit report. The Lowe's rep I spoke with was an Indian, and had no clue what I was talking about. Does anyone have any experience adding an AU to their account and having the account show up on AU's credit report? Thanks :-)
  17. I applied and was approved for a Lowe's store card, as well as a PayPal Mastercard. I believe there were 2 separate hard pulls for each application. I was interested in applying for an eBay Mastercard - the Lowe's/PayPal/eBay cards are offered through Synchrony Bank - has anyone had success applying for multiple Synchrony cards using the same credit report (1 hard pull)?
  18. I haven't tried getting inquiries removed from my files for about 5-6 years, but previously I was able to get them removed from one of the bureaus (can't recall whether it was EQ or TU), in addition to bumpage, by initiating a dispute. I would never dispute it as "Not Mine", but something more vague, like "please provide proof that XYZ creditor had permissible purpose to access my bureau file". I'm in a situation where I need a 1 point increase to a Equifax file, for a loan file. Has anybody had recent experience with either EQ or TU, in regards to disputing hard inquiries? I remember when
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