Financing -- Loans/Loan
I currently an in the process of refinancing my existing home loan under the harp program. My loan is currently in underwriting. For some reason I decided to go back through my loan app that the loan officer filled out and I realized that the loan app is missing a credit card if 4300. For some reason it is not showing up on my loan app. I am very confused as to why. Both mine and my husbands credit scores ok, 715 and 686. I don't want this to jeopardize the loan process. Should I all the loan processor and make them aware of this mistake or should I just wait and see? Will they run another credit check prior to closing? He said it should be done in a few days and we should close in a week after. Why would that card not show up on this application? Thanks for your time.
Yes, you should inform your loan officer about the missing credit card ASAP. As for why it's not showing on your credit; the card is most likely from a credit union, is my best guess. A lot of times, credit unions don't report to the credit bureaus. If that's not the case, you need to call the credit card company and ask them why they aren't reporting it.
Sr. Loan Officer