     anonymous (Zcraws) | Wednesday, February 07, 2001 - 12:30 pm 
on 1-9-01, my credit report from equifax was pulled and I was PRE-APPROVED for a mortgage. Later when I submitted a hardcopy application. a "RMCR" was done,it was done on 1-19-01. The loan is scheduled to close on 2-27-01. So far my credit has been checked twice by the lender. My question is..someone told me right before closing the lender is going to check my credit AGAIN!! a THIRD time!! Is this true? |
| Christine Baker (Admin) | Wednesday, February 14, 2001 - 07:43 pm
The RMCR should have been an UPGRADE from the prequal report, that's normal procedure. Check the DATES on the RMCR and see if it doesn't refer to the 1-9 report. If it shows the 1-9 INQUIRY, your broker needs a lot of help. BTW, you CANNOT prequalify anyone with just ONE report.
Based on your posting, *I* would not do business with that company, I see signs of INCOMPETENCE!
And yes, lenders will usually run their own report(s) just before funding, there's nothing you can do about that. |
| anonymous (Zcraws) | Thursday, February 15, 2001 - 07:51 am
Thanks for the reply.
Yes the 1-9-01 inquiry DOES appear on the RMCR dated 1-19-01. I do not know if this has anything to do with what you were trying to say, but this is a direct lender. It is my local bank. Does that make a difference as far as the procedure on the credit checks? |
| anonymous (Zcraws) | Thursday, February 15, 2001 - 07:52 am
I guess I was trying to say, that I do not have a broker. I have just been dealing with the bank directly. |
| Christine Baker (Admin) | Thursday, February 15, 2001 - 01:06 pm
Well, in that case MAYBE they don't run another credit check before funding, you'll have to ask them. I'd also ask WHY they hit you with 2 inquiries. That is really NOT necessary! |
