PAGING GEORGE I think this would be a good question for GEORGE, since he has credit dating back to the 70's. I wonder if any of his 7-plus years old accounts are being reported. I think that he is/was in the process of refi-ing his mortgage. This is George's post: Re-fi Questions
Re: Credit Reports for $150,000+ Lo As I've said before I've seen lender copies of credit reports that do contain info that isn't disclosed in my credit file(even though they are specifically required to by law). They regularly keep the info about how some info was reported(i.e. application or account update,etc), the date associated with addresses and sometimes whether there is a contradiction with for example your age and soc sec. number. I think some of this can actually affect your credit score even though you can't even see it!! I have a feeling though that what you guys are talking about is merely a case of there being two files for one person. I personally don't think the bureaus are keeping info on loans over $150 just as they don't keep bankruptcy info 10 years even though the law allows it. This isn't to say that they won't start someday, but my guess as to the reason why they don't is that FICO would have to develope another scoring algorithm and the bureaus would have to reprogram and for all of this they would have little monetary gain.
Re: Credit Reports for $150,000+ Lo Well, the reason that I asked about whether it was EQ primarily doing this is b/c they seem to have problems permanently deleting information from their databases. And to your point, they seem to have the most split file problems where they can't seem to control their own data.
Re: Credit Reports for $150,000+ Lo I have been doing further review and have also noticed 2 POSITIVE tradelines left out of my tri-merge which ARE on my TU report dated 7-12-02 WFFINANCIAL # xxxxxxx INSTALLMENT ACCOUNT CLOSED CONDITIONAL SALES CONTRACT UPDATED 01/1995 BALANCE: $0 INDIVIDUAL ACCOUNT OPENED 12/1991 MOST OWED: $2269 PAY TERMS: 36 MONTHLY $63 CLOSED 01/1995 STATUS AS OF 01/1995: PAID OR PAYING AS AGREED QZ3796550 FRD MOTOR CR # xxxxxxxx INSTALLMENT ACCOUNT AUTOMOBILE UPDATED 05/1994 BALANCE: $0 JOINT ACCOUNT OPENED 08/1992 MOST OWED: $13273 PAY TERMS: 48 MONTHLY $276 CLOSED 03/1994 STATUS AS OF 03/1994: PAID OR PAYING AS AGREED Funnyhow they left out 2 GOOD tradelines that are old and could have added to my score. Can't wait to get to Experian to see what they added or left out
Re: Credit Reports for $150,000+ Lo I got my mortgage from Countrywide back in Decemner. They only pulled my Trans Union Report. They did not do a tri-merge.
Re: Credit Reports for $150,000+ Lo Godaddyo, Good Info! My TU is my best report, Did you deal with them online or was it a local thing. What state are you in? JohnM
Re: Credit Reports for $150,000+ Lo I do believe that a good point is being brought up here. Years ago I had some serious problems with paying bills. Those items most likely aged off. However, since I didn't check my bureau back then, I have no idea what is lurking out there that could be bad information! Many years ago, I had to fight CAs and OCs that were trying to collect from a "Diane" with my last name. My name is "Dianne". It would be highly embarrassing to go for my mortgage and find junk there that was not mine or could have been deleted due to inaccuracies just because I can't see it now. My house's value is over $150K. I planned on buying it after I get my bonus next march.
Re: Credit Reports for $150,000+ Lo This issue is becoming an increasingly important loophole in FCRA. Obviously, in the early 1970s, the average consumer wasn't involved in very many transactions greater than 150K. Now, in most urban areas, 150K is just an average mortgage. Using government supplied Consumer Price Index (CPI) data, $150,000 in 1970 (the year FCRA was enacted) is equivalent to $697,664 in 2002 dollars. Clearly, the amounts need to adjusted and indexed to inflation or the FCRA time limits will become moot in many situations. Greg
Re: Credit Reports for $150,000+ Lo Hey Doc, Did your mortgage co. share the report and score with you? If so, it was the same one you get? Hmmm, interesting.
Re: Credit Reports for $150,000+ Lo I got both tri-merges for me and my wife from the builder. At first she said she couldn't give it to me but then I asked her how in the hell can I see if it is accurate or not if she wouldn't give me copies? She called her boss and he said ok to give us copies.
Re: Credit Reports for $150,000+ Lo John M, I dealt with them here locally. But that doesnt meant that they only pull Transunion in my area. I believe that the actual credit reports are pulled at their home office at in Dallas, Tx... I asked them who they used before I had them pull em. The Loan officer was very helpful. I realize that it isnt always the case....
