Hard and soft credit inquiries: What they are and why they matter – Hard credit inquiries could lower your credit scores by a few points. By contrast, soft credit inquiries won't affect your scores. Read on to learn.
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Using a Letter of Explanation to Explain Credit Problems | RealtyStore – The letter of explanation may include explanations for soft credit inquiries and each derogatory entry that shows up on the credit report. When writing a letter of explanation, several components need to be included for every entry made. Start by citing the inquiry or entry, using the name of the creditor.
New Inquiries Need an Explanation – VA Loan Captain – New Inquiries Need an Explanation. By: Grant Moon 07/22/14 11:10 am. If there's one piece of credit advice you hear when applying for a mortgage it's.
Many consumers don’t know why they’re denied credit – Three ways to boost your credit score For example, the explanation given for reason code 39 is. Reason code 85, meanwhile, states: "You have too many inquiries on your credit report." For someone.
PDF Credit report explanation – How do inquiries affect my credit score? When your credit is checked by a business for the purpose of an application a ‘hard inquiry’ appears on your Delinquencies, balances owed, and the length of time you have used credit are all more important. Inquiries have a greater impact if you have a.
Credit Inquiries: What They Are (and How to Protect Your Score) – Hard credit inquiries are considered serious inquiries made before you receive a business loan, a line of credit, a mortgage, or other major credit lines. Just how it affects your credit score while it’s on your report requires some explanation-we’ll get to that below. Does This Count as a Hard Credit.
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Credit Inquiries – Credit inquiries. Other issues that the underwriter needs clarification. Why Do Underwriters Ask For Letter Of Explanations? How To Write Letter Of Explanations To Underwriters. One of the most common requests for letter of explanations is the credit inquiries that are reported on your credit.
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