I applied for a mortgage recently and the company pulled a trimerge report twice. Under my EQ, the inquiry is coded as an EU, counting as a soft, both times. Under TU and the EVIL EXP, the inquiry is not labeled an EU and counts as hard, twice. I think TU and EXP are messing up on the coding of mortgage inquiries, hurting my score!
did same thing to me...eq got it right, Evil exp and tu show them as hards, even though Evil exp shows it as a mortgage co. Evil, evil, evil, evil, evil...........
wait a minute ... are you telling me that mortgage companies should not be making hard inquries? I have hard inquries from two mortgage companies on all three of my reports ... hubby, too. I thought that was just what was supposed to happen. peace, delilah
They can do one hard...they have 30 days to pull as many as they need and it won't (not supposed to) hurt your score any. FICO is supposed to allow for stuff like mgs and auto shopping. Yeah, right...none of my inq disappear for either when I look at the inqs per FICO on my report. Now on EQ, there is a spearate fico section that tells you which inqs are factored into fico. Neither tu or evil exp have this on theirs, I don't think.
If you order the TU fico from TU, it will show which hards are "factored into your score." Frigging EXP though, they are so secretive it is hard to tell since you can't get your FICO from them. But I show two hards under the EXP "hard inquiry" section, with no special coding. My "gut" and past experience tells me the EVIL EXP is counting both hards separately as far as FICO is concerned. What upsets me, is that if EQ got the message to code as a mortgage inquiry, then why the heck wouldn't TU or EXP, since all three were pulled at once in a trimerge report??
You know, there is nothing in the FCRA telling the cra's they have to count mortgage inquiries within 30 day period as one. It is Fair Issac, the Fico developers that have reprogrammed their models to count the inquiries as one. If the CRA doesn't have it coded, the scoring model won't pick it up. Of course, leave it to the Evil EXP to say "I don't care what Fair Issac says....I am not going to recode it." To the consumers detriment, yet again.
They CAN do one "HARD" and the rest "SOFT"...they DON'T have to do a TON of "HARDS" They KNOW they will hurt you F.I.C.O. SCORE BIG TIME!!! SOME COMPANIES JUST DON'T CARE!!!
