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My client was hit for 19 inquiries in the last 60 days - erroneous. How can I help him?

A borrower of mine with what started as a 785 score borrower has now pulled a recent report and it reflects 699 with a supposed "19" pulls. He has had around a total of a dozen banks take a look at him in the last 90 days, but doesn't each 30 days - with however many inquiries are made by "banks" reflect as a single pull? How can I direct him to bring this to the bureau's attention and get this fixed?

Thank you
by ibeforee January 29, 2013 4:05 PM



drop the super-shoppers and work with real borrowers...he's already moved on



by Dr. Branker January 29, 2013 4:14 PM


I don't think those inquiries alone would drop his score that far. Probably either a delinquency or derog has occurred also.

by chubbs1 January 29, 2013 4:21 PM


No derogs. Hasn't missed any payment, only has been looking for a loan against real estate and a couple of inquiries on equipment financing.

What's the best step to help expedite with FICO? I haven't worked on anyone updating erroneous info on credit score in over a decade. Thanks.
by ibeforee January 29, 2013 4:30 PM


looks like you've got 3 30 day periods. also look and see if any of those pulls were not for the same type of credit.

Did he apply for a car or credit card too...open any new accounts
by LOANMAN January 29, 2013 4:31 PM


It isn't erroneous.
It's factual.
He shopped it.
There's nothing to fix.
Throw him away.
by turdly January 29, 2013 4:42 PM


It isn't erroneous.
It's factual.
He shopped it.
There's nothing to fix.
Throw him away.
by turdly January 29, 2013 4:43 PM


Tell the idiot to quit shopping, or quit bitching.
by Climate Change is 4 Nincompoops January 29, 2013 4:46 PM


"but doesn't each 30 days - with however many inquiries are made by "banks" reflect as a single pull?"




no. you can get multiple pulls from several sources within the same industry (mortgage, auto and student loan) without hit to your score only if its done within a 14 day period. beyond that they are counted as seperate hits to his score.


by ol'canuckle head January 29, 2013 5:24 PM


Thanks for a reasonable question LOANMAN. I believe that the only inquiries was with banks for a mortgage loan. May have been through multiple brokers to their designated contact at whichever bank, but even still, if it was 3 or 6 banks one month and maybe another couple the next month, it should still only be considered a single look each 30 days, I thought? No inquiries for credit cards or personal loans other than the real estate and a couple of inquiries for equipment financing for his business.

Does he need to go to each of the 3 bureaus and submit a claim or what is the process? Any help is good help. He's more than just a borrower to me. I'd like to help him. Thanks.
by ibeforee January 29, 2013 5:27 PM


"no. you can get multiple pulls from several sources within the same industry (mortgage, auto and student loan) without hit to your score only if its done within a 14 day period. beyond that they are counted as seperate hits to his score.
by ol'canuckle head January 29, 2013 5:24 PM"

Thank you for that. 14 days? I didn't know that. So doesn't that mean whatever he inquired on within the 14 days, if they were all banks, should be considered 1 pull? And successfully for each 14 day window afterwords? Thanks.
by ibeforee January 29, 2013 5:30 PM


"What's the best step to help expedite with FICO? I haven't worked on anyone updating erroneous info on credit score in over a decade."

I haven't put my tongue in a light socket in equally as long,
I still remember though, not to do it again!
Do you really have a decades worth of experience and not know what inquiries do or how to remove them if at all possible?
Are you not knowing what different inquiries mean regarding mortgage, car, jewelry, student loans, credit cards?

by Sooner Nation January 29, 2013 7:13 PM


the client is a dope for handing over his ssn so readily to get a rate quote.

by MikeM-NJ January 30, 2013 9:28 AM


wonder how many of those pulls were the result of trigger lead calls after the first pull


by LOANMAN January 30, 2013 9:45 AM


"I haven't put my tongue in a light socket in equally as long,
I still remember though, not to do it again!
Do you really have a decades worth of experience and not know what inquiries do or how to remove them if at all possible?
Are you not knowing what different inquiries mean regarding mortgage, car, jewelry, student loans, credit cards?
by Sooner Nation January 29, 2013 7:13 PM"



The point being, I'm sorry I wasn't clear: the consumer was looking for a loan, a couple of brokers had been at the watering hole before me. They led him to about 13 different banks, most likely trigger leads like LOANMAN is assuming. Also he had about 6 different institutions that do in-house equipment financing. I don't know what banks they use but I'm sure it most likely is classified as something different than looking for a mortgage. With this being said, let's say he's had a total of at least 19 pulls in the last 60 days, it shouldn't hit him 86 pts. should it? And if 14 days is a window of a pull, it's only been about 4 cycles, right?

I understand about contacting each of the repositories and going through their paperwork process and hopefully can get a new reflection in 90+ days if you're lucky. What I'm trying to ask is: Is there a quicker way of getting this looked at to see if he has been hit harder than he should have and have the scores readjusted if that's the case? Thank you.
by ibeforee January 30, 2013 5:37 PM


With this being said, let's say he's had a total of at least 19 pulls in the last 60 days, it shouldn't hit him 86 pts. should it?

by ibeforee January 30, 2013 5:37 PM


clearly it does...

did you look at his credit balances reported from the first pull to the recent...does he have a higher percentage of utilization, any new accounts.

Also... were you the 785 pull or did you see a copy of that pull or are you taking the clients word for it?


by LOANMAN January 30, 2013 6:35 PM


No.
There is no quick way.
by turdly January 30, 2013 7:07 PM


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