Gary
Turner,#2Consumer Comment
Fri, December 31, 2004
I am a mortgage broker and unfortunately once you apply for a loan, and depending on your state, you may have to sign a credit authorization or verbal autorization may be enough, but once that happens, they can pull your credit 100 times if they wish. The above post about the number of inquiries in 30 days is correct also, so I don't know what would have impacted your score, but if you have good gredit as you say, 15 points shouldn't of made a difference unless it was below 620 and brought you from conventional financing to sub-prime, but they should of been disclosed that to you.
Carrie
Milwaukee,#3Consumer Comment
Fri, December 31, 2004
but I do think, based on what I know about credit scores, that the two pulls of your credit would barely have affected your score and that going over your credit limit would be the likely cause. The scoring system considers all pulls of a credit report within a 30 day period for either a home or auto loan to be "one" pull, so the 2nd one would hae done nothing to your score, but the ratio of credit balances to credit limits makes up a large portion (maybe 30%?), so going over a limit can cause a big hit. Also, it is likely that somewhere in your mortgage application there is wording that says they may pull your credit or perform any other investigation as needed prior to closing so it probably isn't illegal.... I realize this doesn't help now, but maybe you can benefit from it in the future.