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Izesta

What Can Mortgage Lender Do After Reporting Has Dropped Off Credit Report?

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Does anyone know if a mortgage lender can report any data to a credit bureau (or access my data) AFTER the account has fallen off the report due to the "7" year rule?  I was wondering because I saw that CBA (Credit Bureau Associates) tried to access my report last month.  They got nothing due to my freeze.  In the past, my lender has always used CBA for credit pulls.

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The data never really disappears, the credit bureaus just stop providing it to anyone who requests your report.

 

Furnishing data and doing an inquiry are completely separate processes.  How do you know they tried to access your report if you say they were blocked?  

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isn't Credit Bureau Associates a CA not a mortgage servicer?

 

if you have debt owned by a CA in many states they can pull reports for 419 years.

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3 hours ago, Izesta said:

Does anyone know if a mortgage lender can report any data to a credit bureau (or access my data) AFTER the account has fallen off the report due to the "7" year rule?  I was wondering because I saw that CBA (Credit Bureau Associates) tried to access my report last month.  They got nothing due to my freeze.  In the past, my lender has always used CBA for credit pulls.

A freeze doesn't stop creditors (or CAs) from pulling your credit. If your reports show a pull, it happened.

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Posted (edited)

Hmmm.  Not a lot of help. I do know the difference between an inquiry and furnishing data.  That's why I alluded to both.  I am not a novice to credit.

 

I know that CBA tried to pull because my credit report shows a "blocked inquiry" from CBA.  They did not access my report. 

 

As I mentioned, CBA is the agency my servicer has always used to pull credit.  Many servicers use CBA for this purpose.  In the past, every time my servicer has accessed my credit, it was a pull by CBA.

 

But what I was asking kinda got off target.

 

I wanted to know, "Does anyone know if a mortgage lender can report any data to a credit bureau (or access my data) AFTER the account has fallen off the report due to the "7" year rule?   Please advise if anyone has any input as to this.  THX.

Edited by Izesta

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The FCRA puts the responsibility on the credit bureau not to report negative info that's over 7 years old.  DOFD is what starts the clock.

 

The mortgage company could report for 179 years, but the bureau has to suppress data that is too old to report. 

 

The FCRA defines permissible purpose for credit inquiries:  https://www.law.cornell.edu/uscode/text/15/1681b

 

You seem to be trying to solve a specific problem.  You might get more helpful input if you state the problem.

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20 hours ago, cv91915 said:

The FCRA puts the responsibility on the credit bureau not to report negative info that's over 7 years old.  DOFD is what starts the clock.

 

The mortgage company could report for 179 years, but the bureau has to suppress data that is too old to report. 

 

The FCRA defines permissible purpose for credit inquiries:  https://www.law.cornell.edu/uscode/text/15/1681b

 

You seem to be trying to solve a specific problem.  You might get more helpful input if you state the problem.

Thanks, but actually no, there is no specific problem.  All I know is what I stated.  They attempted to access my credit and I do not know why.  I got a response from CBA yesterday confirming it was my servicer trying to access.  

 

Gonna try another avenue to try to determine what is going on.  I guess it could possibly be an error by the servicer.  After all, they make a boatload of mistakes.

 

My mistake for not using the proper terminology.  Writing too quickly.  I realize the bureau must control what appears on a report and I understand DOFD.  I mentioned above that it's been 7 years and almost 8 yrs ago that it dropped off my report.  Actually, I am just as concerned with them "accessing" my report.  I don't think the bureaus can control that and I don't know "when" permissible purpose ends.  I wonder if a permissible purpose extends even after reporting ends if a debt in still owed.  If so, it's another good reason to keep reports frozen.

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There is nothing to preclude accessing a report even if the account has aged off or was otherwise not reporting.  Further, not every account that drops off is actually beyond a window in which reporting COULD occur.  You do not indicate what the date of first major delinquency was, which is the essential piece of information needed to say what could or could not occur from this point. 

 

Remember that an account that was NOT delinquent CAN report for up to ten years following the closure...I recall being extremely happy at an account that once had an update when a sale occurred because it bought me another decade of reporting (account had closed in the mid-90's when the store went out of business). 

 

As to the issue of permissible purpose, it exists into perpetuity, regardless of the ability to report on the account.  Exceptions MIGHT exist under State law where limitations expiry has been codified in a manner that stops all collection activity, but those are going to be few and far between...

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