Dont worry about credit inquiries when shopping for a mortgage loan

Shopping for a mortgage loan? DON’T worry about inquiries on your credit report

We’ve all heard it before. Having someone pull your credit will reduce your credit score. Sadly, many people end up making some poor decisions based on half truths, and bad information.

The fear of reduced credit scores with the occasional pull from a creditor is the most annoying, misleading, and misunderstood thing I hear every week in the mortgage business. If you are worried about “inquiries on your report”, this isn’t the concern most people think it is.

What to know about mortgage rate shopping.
Looking for a mortgage, auto or student loan may cause multiple lenders to request your credit report, even though you are only looking for one loan. To compensate for this, the score ignores mortgage, auto, and student loan inquiries made in the 30 days prior to scoring.  So, if you find a loan within 30 days, the inquiries won’t affect your score while you’re rate shopping.  In addition, the score looks on your credit report for mortgage, auto, and student loan inquiries older than 30 days. If it finds some, it counts those inquiries that fall in a typical shopping period as just one inquiry when determining your score. For FICO scores calculated from older versions of the scoring formula, this shopping period was any 14 day span. For FICO scores calculated from the newest versions of the scoring formula, this shopping period is any 45 day span.

Furthermore, inquiries, even under the worst of situations, could only account for 10% of your overall score. Most people should have absolutely NO CONCERN whatsoever about inquiries on your credit report unless you have applied with 10, 15, or even 20 lenders in the past 90-days.

Visit to find out the truth about inquiries and your credit score, and STOP WORRYING!


The credit bureau is selling your info. Here is how to stop it

Getting a mortgage loan? Beware of the credit bureau.

You’ve shopped a few lenders, gotten some quotes. You’ve narrowed your search, supplied a full application, and supporting documents. The lender has now pulled your credit report, and informed you everything looks great. You lock your interest rate, and move forward.

Suddenly, you are overwhelmed with telephone calls and an overflowing mail box with offers from competing mortgage companies. What is going on?

Sadly, there is a new and horrible marketing trend called “trigger lists”. Because the lender and pulled your credit (they had to), they triggered an  unintended event.

The credit bureaus have found another way to increase their revenue at your expense, and WITHOUT YOUR PERMISSION.

Having credit checked is an important and necessary step in the home buying process, as well as something that is done for many other legitimate reasons.  Very few people realize that each time your credit is
checked, an “inquiry” is generated on your personal credit report.

The credit bureau’s are now selling your “inquiry data”, including name, address, phone number (even unlisted), credit score, current debt, debt history, property information, age, gender, and estimated income.  They are selling all this personal and confidential information to anyone who writes them a check!

These low life mortgage lenders purchase these leads at a premium price. They then will do, and say anything they can to recoup their investment and turn a hefty profit. Bait and switch tactics are being used to lure clients away from their reputable lender. Many of our clients have even been called by these disreputable lenders and told that the lender they had been speaking to previously “passed on” the information to them!

The good news is you can make it stop immediately. The consumer credit reporting industry has provided a way to “opt out” and remove your name from these lists.  You can contact them by phone at
or online at

You certainly have the right to shop for the best professional to meet your lending needs. This should be done on your terms, when and how YOU chose. Unfortunately at this time, these unsolicited marketing tactics are a nuisance and intrusive, but perfectly legal.

Our company, Mortgages Unlimited, and my team are doing everything in our power to limit these credit report abuses. We suggest you call your representatives to let them know how you feel too.

Take the time to protect yourself from identity theft and unwanted solicitations. OPT-OUT NOW!