I closed on my house earlier in August. In the closing papers, it stated that the mortgage would be sold to Citimortgage Inc. Today, I find that Citimortgage has pulled all three of my credit reports. Why did they do this and is it going to be a problem that I have many more inquires than I did when I was approved for the loan. In all, my scores are actually better than they were when I was approved but I'm still ticked off that I got three new inquires today for something I was already approved for. I applied for a few prime cards since my credit scores were up and I just don't want this causing any problems. I'm scheduled to move in the 21st of this month. Thanks for any advice!!!
Thanks George. I'm just wondering if that won't work b/c Broadview Mortgage, the company that initially approved the loan pulled an inquiry and then Citimortgage did 3-4 weeks later. Even though Citimortgage was listed in my papers as the co. who the mortgage was going to be transferrred, they should have been aware of my CR then. So do they have the authority to pull my report now? I could call them and ask them to remove it. Disputes will be out in the mail in an hour or so.
I nixed my other post, having misread your question. I think they can pull, since they own the loan, but I don't see how it could effect your mortgage. I'm not a mortgage person though, so maybe there is some sneaky clause that allows them to change your terms? Somehow I doubt it.
I closed over 3-4 weeks ago. In fact, I was to move in yesterday but the sellers needed a few more weeks to have their house finished so they are renting back a few weeks from me. All the loan papers have been signed and the sellers mortgage has been paid off. The original mortgage company already ran my credit and in their papers, they advised that the mortgage would be transferred to Citimortgage. Citimortgage was a ware of my credit 4 weeks ago. I just don't want the hard inquiry on the reports.
Relax- I don't think you have anyting to worry about. It sounds like the mortgage co. you did the loan with is a broker who does their own underwriting for Citimortgage. Citimortgage pulled your reports as part of their final acceptance (from the broker to them, not of your loan). It's pretty commonplace. The terms of the note can't be altered, and you've already closed, so no biggie. Citi also likes to collect data and share within the "family". -mj
When in doubt...DISPUTE...when your sure they should have pulled...DISPUTE ANYWAY... 3 weeks POST-CLOSE (even if they has a so-called "PERMISSABLE PURPOSE")...DISPUTE They could have done it PRIOR TO CLOSE...or done a PRM/AR/AM... YOU DID NOT APPLY FOR A NEW LOAN OR CREDIT CARD 3 WEEKS POST-CLOSE...
