Mortgage company, multiple CR pulls

Discussion in 'Credit Talk' started by MtnMan, Jun 5, 2003.

  1. MtnMan

    MtnMan Member

    NEWBIE Alert - First post.

    Wife and I applied for a mortgage with Vectra (only lender we applied with). They pulled our CR 3 times. Then Washington Mutual pulled again.

    Is this a violation of my rights? I can understand Vectra pulling one report and then Washington Mutual pulling another one as they are the underwriters. But 3? Does PP apply here?

    Please be gentle on the newbie....
     
  2. too much

    too much Banned

    Contact them and ask then to remove the multiple inquiries. If they want your business, they'll probably do it.
     
  3. Mycroft

    Mycroft Well-Known Member

    Are you really looking at three inquiries? Or is it one inquirie per bureau?

    If Vectra is a broker and they're placing your loan with Washington Mutual, then it's normal to get a pull from both Vectra and WaMu.
     
  4. MtnMan

    MtnMan Member

    Thanks for the info. I haven't seen the CR yet with my own eyes. We started working with another broker and yesterday he asked me why Vectra pulled 3 times.

    My old rep's response (from Vectra) was that sometimes it shows up twice even though they only pull it once. Ever hear of that? Not me. He confirmed that he did pull it twice personally within 2 weeks of each other, then Washington Mutual pulled. He noted that I authorized them to pull credit multiple times via the borrower's agreement. I verbally authorized the first one over the phone. About a week later (while reviewing in person the merged CR from Factual Data with him) I signed the application.

    Just trying to protect myself against the inquiries. Is there anything specific here they have done wrong if indeed they pulled 3 times?
     

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