kingnothingkc Posted March 12, 2008 Report Share Posted March 12, 2008 I just pulled my three reports via Credit Secure, and have a question regarding the Credit Inquiry section.I purchased a house in June of 2007 and had several mortgage related inquiries in a two day period. On the reports from Credit Secure I am being downgraded on the TU portion because "several inquiries on your credit report is negatively affecting your score". On my TU report there have been five inquiries over the last two years, and three of those were for the house. That means 2 non-house + 1 house = 3 total. On my Equifax portion, there are 4 total inquiries, 1 of those being mortgage related, which means a total of 4. Yet I was NOT downgraded on my Equifax portion for too many inquiries.On Exp, there are three total inquiries, all three of which were mortgage related, meaning 1 inquiry.Could TU not be combining the mortgage inquiries? Is there anything I can do to clean this up? Link to comment Share on other sites More sharing options...
sparky256DSL Posted March 12, 2008 Report Share Posted March 12, 2008 I was unaware that CRA combined inquiries for the same item. I'm pretty sure that if you apply for a morgage they will list everyone who hard pulls your credit and they won't combine them all into one. Leading tree is one of those types of places that pass your info around and then you get quite a few pulls and your score usually goes down a little. I could be wrong but that is what I have always thought. Link to comment Share on other sites More sharing options...
willingtocope Posted March 12, 2008 Report Share Posted March 12, 2008 Recently, there have been some changes in the way FAKO and FICO scores are calaulated that DO combine pulls within a given time frame into a single negative. This certainly applies to car loans, and I'm pretty sure it applies to mortgage.The fact that your getting your reports from a 3-in-1 service rather than directly from the source may be confusing the issue somewhat. Usually, the CRA that owns the 3-in-1 service gives you up to date info for their report, and somewhat dated info for the other two. In fact, the reports from the other two may be totally inaccurate depending on who, what, when, where, why, and how.Don't stress over it too much. If you need and absolutely accurate assesment of your "consumer" FICO score...go to www.myfico.com and pay for it. Similarly, go to either www.annualcreditreport.com to get your free yearly reports...or go to the individual CRAs. Link to comment Share on other sites More sharing options...
Ahntara Posted March 13, 2008 Report Share Posted March 13, 2008 Don't fret too much over the 'reasons' provided by scoring software. There is a short, standard list for the software to choose from. "Too many inquiries" is one of them and may have been placed with your score because there is no such thing as a perfect score and some kind of 'reason' is required. Your few inquiries are not too many, that's just the closest thing the software had to an explanation. Link to comment Share on other sites More sharing options...
Recommended Posts