Posted by Clare Z on April 14, 2002 at 17:57:45:
I actually work for a credit reporting agency. They pull the credit for people applying for mortgages through us. That is why I am familiar with the process. Do a lot of work with the lenders, who are in turn answering to the underwriters…
Clare
Spouse Credit Effect Mine - Posted by mcl
Posted by mcl on April 13, 2002 at 18:29:32:
I posted this over in Finance Forum but thought some folks here might be able to help as well.
This may be a silly question but I just want to make sure that nothing adversely effects my FICO score when I need to get a tri-merge pulled.
Question: Does my spouse’s credit intermingle with mine at all when a tri-merge is pulled on me?
Re: Spouse Credit Effect Mine - Posted by Clare Z
Posted by Clare Z on April 13, 2002 at 21:53:01:
It shouldn’t. Except for those accounts that are joint. Check carefully when you get the report. You may also find that credit cards that are hers will show if you are an authorized user. This should not affect your scores, and would be deleted by a credit reporting agency during a more advanced credit report (mortgage companies usually first order a tri-merge, then order a full report from a credit reporting agency to get rid of dupes, non-borrower’s accounts, closed accounts reporting open, etc)
Clare
Re: Spouse Credit Effect Mine - Posted by mcl
Posted by mcl on April 13, 2002 at 22:30:29:
thanks. i thought that may be the case but just wanted to bounce the idea off of some folks.
mcl
Re: Spouse Credit Effect Mine - Posted by Kent C
Posted by Kent C on April 14, 2002 at 12:23:37:
I just dealt with a couple who were talking to a mortgage broker. The couple was common law married. Guy was terrible FICO, girl was okay. Both worked. Lender said if they were married he would have to pull on both of them and take title in both names. Since they were not, he just used the better of the 2 since one was bad.
Kent C
Re: Spouse Credit Effect Mine - Posted by Clare Z
Posted by Clare Z on April 14, 2002 at 13:35:32:
This may depend on the underwriter. We have plenty of people applying for mortgages who are married and only one spouse applies. So it is not a LAW, just depends on lender. We deal with most of the major mortgage companies in the US, so I know there is plenty of variety out there.
Clare
Re: Spouse Credit Effect Mine - Posted by Kent C
Posted by Kent C on April 14, 2002 at 15:06:04:
Ya, I think the national lenders may be more forgiving. Of the 3 local banks I use, they ALWAYS pull credit and put title in both me and my wifes.
What kind of underwriting or financing do you do?
Kent C