Doing a settlement w/ your credit card-does this hurt your score? if so by how much? thanks?

i did 3 settlements and was told that this will not hurt my score.(by the collectinn dept) I have paid my bills and not even missed 1 pmt in over a year.Now i found out my score has went down 90 points and I am having trouble getting a mtg for a home. The mtg comp. said that doing a settlement is the same as bnkrpcy. Is this true? What can i do cause now i cant get any cc or loans. thanx

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