What the hell is going on here? (inquiry weirdness)

[cv91915]

 

 

No one has asked this question. WHY would the CU lie about pulling a report? Last I looked banks (CU's) are in business to make money, so there would be no reason not to pull one.

 

"Incompetence" comes to mind. Never attempt a mortgage with a credit union!

Give me a break. If there was a mistake it could have happened with any type of financial institution. Funny thing, I had a problem with my Chase mortgage but never the 2 mortgages I had from 2 different CU's (Patelco and Fairwinds).

I've started four mortgages with four different CUs, large and small, purchase and refi, when things were loose and when they were tight, and for homes in two different states. None of them closed due to incompetence, lack of motivation, or both.

 

Patelco may have been the worst.

[loderunner]

OK, I just shelled out $60 I really can't afford. The verdict:

 

Ex: 702

 

Eq: 711

 

TU: 710

 

 

I'm somewhat relieved but before I go applying again somewhere else it would be nice to get a response from the CU, no?

 

 

Thanks for all the feedback and well-wishing.

Edited December 3, 2014 by loderunner

[cv91915]

OK, I just shelled out $60 I really can't afford. The verdict:

 

Ex: 702

 

Eq: 711

 

TU: 710

 

 

I'm somewhat relieved but before I go pulling again it would be nice to get a response from the CU, no?

 

 

Thanks for all the feedback and well-wishing.

I would move on with your plans with a different mortgage company. There are a lot of good ones out there.

 

Hint: you want the person you're working with to be paid at least partly on commission. S/he will be a lot more motivated to get your loan closed than an hourly CU employee.

Edited December 3, 2014 by cv91915

[mendelssohn]

OK, I just shelled out $60 I really can't afford. The verdict:

 

Ex: 702

 

Eq: 711

 

TU: 710

 

 

I'm somewhat relieved but before I go applying again somewhere else it would be nice to get a response from the CU, no?

 

 

Thanks for all the feedback and well-wishing.

Then move on to another company. Clearly this CU is a business you don't want to trust with a mortgage.

[loderunner]

 

Then move on to another company. Clearly this CU is a business you don't want to trust with a mortgage.

 

 

I appreciate the feedback, and it's certainly my intention but... it seems like a rather colossal mistake to make, no? Even for someone as lazy as the VP I'm dealing with. And there are anomalies with Equifax (Comcast issue, claiming my file was locked on my paper report), there are a couple old (over 7 years) alleged debts that I never paid off, and a few years back my name (and SSN? I really can't remember) was connected to an LLC bank account that had some issues at one point (but they were resolved... I thought.) In other words, there seems to be enough fodder for another theory, possibly split file.

 

Going through this experience again at another bank is something I wish to avoid, and I can't see how I can investigate further without pestering the CU to investigate. In other words, while I have suspected CU incompetence from the beginning, I would really like to have a definitive answer re: What The Hell Actually Happened.

 

Am I wrong?

Edited December 3, 2014 by loderunner

[BobWang]

I haven't read the thread,

 

but you *DO* realize that

 

you got FICO 08 scores,

 

and the mortgage company

 

will most likely be using

 

FICO 04

[breeze]

I'm going to bet they pulled the wrong report. Go get a look at it. look for typos or similar name, accounts you never had, addresses you never lived at. See if it's your report.

[mendelssohn]

I haven't read the thread,

 

but you *DO* realize that

 

you got FICO 08 scores,

 

and the mortgage company

 

will most likely be using

 

FICO 04

That's what I posted early on in the thread, but there's no way his 08 is 700+ and his 04 is 4-500s.

[BobWang]

True, I would just move on,

 

at least if they pulled somebody else's file,

 

there wouldn't be extra inquiries.

[mendelssohn]

I would move on without doing anything else, because they may end up pulling credit if they figure out what they messed up.

 

There's no need for extra inquiries now.

Edited December 3, 2014 by mendelssohn

[breeze]

See what they guys in the mortgage forum say if you want to focus on getting the mortgage. You can always find out what happened at the credit union later. Their loss. You have the income and scores, the ball is in your court. What is it you want first? The mortgage? Ask around. I know I've dealt direct with a mortgage lender and I've used a broker - as long as you get what you want, that's what's important. You're going off in too many directions. Focus.

[hdporter]

I'll toss out my 2 cents: Ideally, it should be straightforward to confirm with a CU rep that they're working with your report. Simply ask them to confirm a specific tradeline detail with the reports they received ... say, current balance or account open date. This should be a 2 second check and provide immediate confirmation.

 

As far as those who continue to nay say cu's for mortgages -- they're entitled to their opinion. But I'll counter that we've had superior experience closing a mortgage and heloc with dcu. We were bothered with some unnecessary duplicate doc requests, but everything in general was as good as one might hope for.

 

Finally, OP suggests that he resorted to intimidation early on with the cu. Not the wisest course of action when dealing with someone you really prefer to have working in your corner. Exhausting reason and other gentler avenues is always preferred. Intimidation can get results, but typically burns bridges in the process.

[hdporter]

breeze's excellent post gives cause for an added observation ... it's my guess that loderunner would be particularly well-served by a mortgage broker in seeking a loan with other lenders. Like breeze, I have used a broker (once). The key benefit is that it adds an experienced party to the transaction who is motivated to act as your advocate.

[mendelssohn]

To clarify, I'm not saying no CUs. I am saying that this CU obviously has issues and the OP should move on.

[Deadbeatloser]

Finally, OP suggests that he resorted to intimidation early on with the cu. Not the wisest course of action when dealing with someone you really prefer to have working in your corner. Exhausting reason and other gentler avenues is always preferred. Intimidation can get results, but typically burns bridges in the process.

 

Yea, I would say your bridges are burned with this CU. If you really want that house you need to focus more on finding someone who wants to finance you and less on getting "justice" for your percieved wrong. Your 08 scores are fine. Move on and take care of your family and not your ego.

[whipster]

I'm going to bet they pulled the wrong report. Go get a look at it. look for typos or similar name, accounts you never had, addresses you never lived at. See if it's your report.

I suggested that first thing, to no avail.

[breeze]

 

I'm going to bet they pulled the wrong report. Go get a look at it. look for typos or similar name, accounts you never had, addresses you never lived at. See if it's your report.

I suggested that first thing, to no avail.

 

 

 

It bears repeating.

[cv91915]

I'll toss out my 2 cents: Ideally, it should be straightforward to confirm with a CU rep that they're working with your report. Simply ask them to confirm a specific tradeline detail with the reports they received ... say, current balance or account open date. This should be a 2 second check and provide immediate confirmation.

 

As far as those who continue to nay say cu's for mortgages -- they're entitled to their opinion. But I'll counter that we've had superior experience closing a mortgage and heloc with dcu. We were bothered with some unnecessary duplicate doc requests, but everything in general was as good as one might hope for.

 

Finally, OP suggests that he resorted to intimidation early on with the cu. Not the wisest course of action when dealing with someone you really prefer to have working in your corner. Exhausting reason and other gentler avenues is always preferred. Intimidation can get results, but typically burns bridges in the process.

I've never done a heloc with anyone. I can personally attest to four butchered first mortgages attempted with CUs, though.

[nolanryan]

OK, I just shelled out $60 I really can't afford. The verdict:

 

Ex: 702

 

Eq: 711

 

TU: 710

 

 

I'm somewhat relieved but before I go applying again somewhere else it would be nice to get a response from the CU, no?

 

 

Thanks for all the feedback and well-wishing.

I am sorry but If a home purchase is on the line, $60 is not even a drop in the bucket. I already know you are going to say you were exaggerating but seriously, if that $60 is too tight, then I strongly suggested looking at the budget before you commit to a mortgage.

[loderunner]

Finally, OP suggests that he resorted to intimidation early on with the cu. Not the wisest course of action when dealing with someone you really prefer to have working in your corner. Exhausting reason and other gentler avenues is always preferred. Intimidation can get results, but typically burns bridges in the process.

 

I would agree with you in general, but in this case I really did not have the time. I have never bought a house before, but I am assuming finding a house (we do have a short list, but the no-brainers are all gone), offering, and closing the deal in less than 2 months is going to be tough. Losing an extra week or two for some plaintive, doe-eyed cajoling didn't seem to be an option, especially since it became clear I was a low priority client.

 

Again, I think I simply gave the wrong impression here with my post this morning. I enjoy intimidating wireless routers; it's the main reason why I'm a regulator. I do hope that people here get some enjoyment out of their dispute letters--there's no reason to be ashamed of it; But the decision to go on the offensive here was fairly levelheaded--maybe not 100%. (His canned email was pretty annoying.) But I didn't actually fly off the handle and I'm not as scatterbrained as this thread may make me appear. Rather, I am attempting to rapidly explore as many avenues as I can to bring this episode to a close, avoid issues at the next bank and buy a *Admin removes vulgarity* house without getting sucked into another lease or telling my wife to take my son go move in with my parents again (300+ miles away). Goodwill simply was not an option. Goodwill takes time. I wish I had time for it, because it would have been more likely to get me nice concessions.

But to qualify this qualification... if my life does end up getting disrupted at the end of January, and if this issue was the result of the CU's error, I am still very serious about suing them. I'm not going to pretend otherwise. Why the hell shouldn't I? Their untruth has significantly disrupted my life and it could get much worse before it gets better. At worst, a few thousand bucks of compensation is probably all I would need to keep our chocolate together and it wouldn't put a dent in their bottom line. Take it out of the wireless router VP's annual bonus. I really do not understand these apologist posters. At all.

 

 

I'm going to bet they pulled the wrong report. Go get a look at it. look for typos or similar name, accounts you never had, addresses you never lived at. See if it's your report.

I suggested that first thing, to no avail.

 

Good idea, but this is actually the very first thing I asked nearly a month ago when this happened--can I please see the report, or can you tell me anything that's on it? She said sorry, they only have access to the scores. I have this in writing

 

I hope she was lying. I hope they have been depraved and cynical enough that they are now willing to do anything to make me go away, and no I don't think I'm a particularly horrible human being for wishing this to be so.

Edited December 4, 2014 by loderunner

[loderunner]

 

OK, I just shelled out $60 I really can't afford. The verdict:

 

Ex: 702

 

Eq: 711

 

TU: 710

 

 

I'm somewhat relieved but before I go applying again somewhere else it would be nice to get a response from the CU, no?

 

 

Thanks for all the feedback and well-wishing.

I am sorry but If a home purchase is on the line, $60 is not even a drop in the bucket. I already know you are going to say you were exaggerating but seriously, if that $60 is too tight, then I strongly suggested looking at the budget before you commit to a mortgage.

 

 

We are seriously looking at houses with a monthly payment well under $150, and like I said in a previous thread there are programs available to cover the closing costs.

 

(Admittedly, I'm willing to consider houses that cost more than twice that much, but this should give you a rough idea of just how low-end we are right now. And how Chocolate Goodness our city is.)

Edited December 4, 2014 by loderunner

[ubercat]

We are seriously looking at houses with a monthly payment well under $150, and like I said in a previous thread there are programs available to cover the closing costs.

 

Pictures, please.

[mendelssohn]

You would have a hard time finding a house with a $150 payment that has wheels.

[loderunner]

 

We are seriously looking at houses with a monthly payment well under $150, and like I said in a previous thread there are programs available to cover the closing costs.

 

Pictures, please.

 

 

I've revealed a little too much personal info as it is. Go digging in the deep south on Zillow and do some simple 30-year estimations. There have actually been some rather promising 900-1200 square foot places we've missed that have gone for $25,000 (granted, may need a 203(k) because blah blah blah, but bottom line they were livable as-is, with no mold problems, usually with a bedroom or two that needed work.) None of them were manufactured or mobile.

 

If all banks are going to be hardasses about absolutely all cosmetic issues being fixed by a 203(k) beforehand then no, $150 isn't quite realistic.

Edited December 4, 2014 by loderunner

[ubercat]

I have a question: Can you skirt an econovan?