Rapid Rescore – A first time home owners worst nightmare

QuestionsRapid Rescore – A first time home owners worst nightmare
Tristan Schilling asked 4 years ago

I was 4 days from closing on my house and everything was verified and I was approved.  I receieved my closing disclosure and a call from the title company.  I was all smiles. My credit profile expired right before the loan closed.  Later in the afternoon I recieved a call stating my mid-credit score is one point below the requirement mark and unless we can remedy the situation with a rapid rescore, my loan was doomed.

 

The only thing that had changed with my profile was an unathorized credit pull from a mortgage company my real estate agent put me inh touch with knowing I already had a great rate with my bank. Instead of letting it sit where it was, he put me in a group message with this broker who later called me. He asked for my SSN and DOB and when I realized he was going to pull my credit, I immediatley stopped him. He agreed not to pull it. His senior loan officer saw the report with not credit profile attached and ran the report.  Their attorney agreed it was a mistake and wrote a letter to get this off my credit ASAP. It did not fall off on time.

 

I was told to pay down $ 700 of my credit card debt in the mean time so we could attempt to close on time. I did one better and paid it down double that to ensure each card was not over utilized. I called the creditors once they payments cleared and begged for letter heads to be faxed to my bank.

 

As the changes were being made, I saw my credit score rise (primarily FICO 8) and my VS I purchase through TU even rose 60 points.  I thought I was in the clear.

 

I got a call from the back yesterday saying all my other scores rose, but my mid-score dropped by one point. I am dumb founded. Everything that impacts my credit (history, mix, utilization) is all listed as “good” or “very good”, the only “fair” is my credit history as I am in my twenties. I spent much of the night in the fetal position crying and getting sick of all of the money I invested and the emotional investment I was about to lose. This is so hurtful. My entire rental house is packed up and I am left here today scratching my head. My TU VS is 715, my TU Fico 8 Score is 681, but the FICO 4 mortgage score was 619 (now 618). They are “trying one more thing” as a couple hundred dollar item was added to the rest and not this one. I do not anticipate this to work. I took a week off work and already told all of my coworkers and family I was a proud new homeowner after everything cleared and I was issued CD (but not clear to close). Also, it is important to mention that both my experian and equifax rose with the rapid rescore. Also this is an FHA loan.

 

Any help or advice I would welcome.

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