re: Credit report mortgage inquiries

What is happening is he went to multiple places, they all pull a diffeent report. In other scenarios, lenders review his credit using the same report for FNMA/FHLMC underwriting. If the file is subitted the lender will pull it again. So depending on where he applied, they may have puleed multiple reports. It isn't a permanent reduction from bad credit, it looks like he is applying for multiple loans, raising his potential outstanding debt. If he opulss it himself and keeps applying at different places he is dropping his score. I will eventually go up unless there is a real issue a change in status, collection, lowering of credit limit, applied for another cc etc. So yeah every action he does lowers his score, not permanently, but in the short term. So if he applies somewhere else and decides to stick with that lender, he could potentially receive a higher rate because he applied at multiple places that pulled his report multiple times.

So believe what you want, but everywhere he has applied if it is an internet site allows access to his application to multiple lenders, each could or will potentialy pull their own report, thus lowering his score. From what he has listed, he went to multiple sites who mave have shopped him to multiple lenders, who pulled his report multiple times. Unless he has a real credit issue. That is the likely explanation; him also pulling it, does nothing for him unless he used the same bureau number the site he applied to used.

I been in the mortgage business for 20 years, no I am not wrong. We subscribe to some of those site, they send us applicant who have had their reports puleed multiple times. It isn't a permanent reduction, but it does drop.

So no you are wrong, or tell how I am wrong since you know.