re: Credit report mortgage inquiries

This is the problem. You went to an internet site or an on-line scenario. Generally what happens is a broker will use your same report and then whoever they decide to send it to will pull a different one that actually has more information on it. If you have an open application with multiple places then they pull a different one every time because each one is paid for by the company that pulls it. It basically looks like you are trying to acquire credit from multiple places, that is why your score dropped.

Some of this was supposed to be reduced with Dodd/Frank, but it should not be a drastic fall. If you were borderline already, you didn't help yourself.

Also, the bureaus look at what type of report and who pulled it. Some inquiries will lower your score more than others. If you went to say "Bank Rate.com, everyone has access to your info and can pull it. Most don't because it costs money. Also those free credit reports aren't free. They try to sell you on their services, sell you to marketing companies, etc.

By law if you are denied credit, the 3 major reporting agencies have to supply you with a free report once a year. Not just because you want one. If you are denied, usually, the company is going to supply you with a TD letter that states your scores, and gives you basic information.

The people who are the worst at selling your information and privacy violations are the credit bureaus. Watch, if you applied for a mortgage in about 30 days you will start getting all kinds of solicitations from all sorts of groups, companies, etc. Your score dictates who you get sold to.