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Unauthorized inquiries

Discussion in 'Credit Talk' started by rebecca, Dec 28, 2003.

  1. Dec 28, 2003 #1
    rebecca

    rebecca Active Member

    I was wondering how to handle this situation. My husband and I have been shopping for mortgages. I have just looked at his inquiries and have realized that almost 95% of the inquiries were not authorized. I had faxed over his credit report to lenders and have requested that they do not pull. It seems that they have. How do I handle this and what kind of letter can I write to the CRA?
     
  3. Dec 28, 2003 #2
    GEORGE

    GEORGE Well-Known Member

    LOOKS LIKE THEY ARE SHOPPING YOUR LOAN--like they do with a car...

    The CRA'S "MAY" be able to delete ALL BUT ONE in this case...
     
  4. Dec 28, 2003 #3
    jenz

    jenz Well-Known Member

    did you fill out an application - either by phone, fax, email, etc?

    also, a lender can't use your credit report to make a determination - especially for a mortgage, since most use a tri-merge.
     
  5. Dec 28, 2003 #4
    GEORGE

    GEORGE Well-Known Member

    ...THEY MUST PULL ONE TRI-MERGED...(at the beginning)...AND one near the end...(most of the time)
     
  6. Dec 28, 2003 #5
    GEORGE

    GEORGE Well-Known Member

    You can go to a lender and say..."LOOK AT MY CREDIT REPORT(S) AND TELL ME IF YOU THINK I WILL QUALIFY FOR A HOUSE OF $XXX,XXX AND DON'T PULL ANOTHER CREDIT REPORT TO TELL ME THAT I QUALIFY OR NOT"

    They are NOT going to make a FIRM approval/denial without pulling their own credit report.

    You can get a "PRE-APPROVAL" without a credit report...you give them H/H INCOME (along with other information)...and they use a computer program to tell you HOW MUCH HOUSE YOU CAN LOOK AT...
     
  7. Dec 28, 2003 #6
    rebecca

    rebecca Active Member

    What I had told them (lenders) to do was with the credit report faxed to them, I wanted to see what kind of programs they have available. They assured me they would not pull any credit. Looks like they did. Is there a letter I can write to the CRA's to ask them to get rid of the ones I did not authorize without having a fraud alert put on the report?
     
  8. Dec 28, 2003 #7
    jenz

    jenz Well-Known Member

    i would call the LO you were working with at each place and explain that you didn't want them to pull your credit and to ask them to remove the inquiry or give you something in writing stating they did so in error (for you to fax to the CRA).

    if you filled out any sort of application or release of information with any of them, they are allowed to pull, but i think if you explain the error, they will try to fix it.

    i wouldn't dispute w/the CRA's just yet, because if they contact the lender about the justification, you may have difficulty working with that lender later on.
     

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