Posted by Jeff S on December 19, 2000 at 17:51:35:
The scores will not be effected that much by another mortgage inquiry. Fair Isaacs has even built into the new score a model that will take into account multiple inquiries within a certain amount of time, assuming that the consumer is shopping rates. Even if the time frame has passed, an inquiry is not going to be that dramatic coming from a mortgage lender.
Ed Garcia et al, question on beacon scores? - Posted by ScottSc
Posted by ScottSc on November 16, 2000 at 16:45:17:
we have had a time with one mortgage company. We are considering letting another company finance for my buyer.
We have seen a loan approval letter from this lender, but somehow have’nt been to closing. How would it affect the beacon score if we let another mortgage company have a look at our buyer but kept the first mortgage company working on the loan. We don’t intend to pull the business unless they fail for the fifth time to close by monday. In which case we want to be ready with a backup.
thanks