I asked the PNC bank Mortgage Dept to do so but they said "it is what it is". The Credit Bureau said a statement would have to come from PNC - coming from me would not do any good.
"It's a good idea to add a statement when you disagree with the results of a dispute," says Rod Griffin, director of public education for Experian. "A statement of dispute allows you to tell your side of the story." Similarly, if medical issues led to late payments, a statement can point out the reason behind the misstep and reassure lenders that you've since regained financial control.
although many lenders rely on computers to determine your creditworthiness, some still do things the old-fashioned way. "With every lender I worked for, we were encouraged to look beyond the credit score," says McClary.
Even as new models for determining credit scores give consumers the benefit of the doubt when it comes to things like limited credit history or paid collection accounts, "responsible lenders are still wise to look beyond the score when serving their customers since there are still issues that might require additional documentation or explanation."
Some experts even think that the ongoing credit crunch may mark a return to more manual underwriting. "Given the current economic environment, the shift to automated approvals may be reversing itself," says Steven Katz, a spokesman for TransUnion. "Banks are clearly scrutinizing every aspect of candidates' qualifications for a loan, so your paperwork may be more important than ever before."
At the very least, a consumer statement can make you look proactive about your credit situation in a way that appeals to potential lenders. It can even scare off debt collectors. "Filing a statement shows that the consumer is educated about their rights, and that's what debt collectors try to avoid," says Jonathan G. Stein, a consumer law attorney in Elk Grove, Calif. "Debt collectors know that a consumer who is educated is going to fight them and make them prove everything; they can't collect money as easily from people asserting their rights."
Plus, Stein points out, "A consumer statement will also let prospective lenders know that you take your credit score seriously and want to do the right thing. That is never bad for being able to borrow money."
Will it do any good to go as high as I can (a Mortgage Officer with PNC)
to request a statement?
Thank you for your previous answer which I believe will be very helpful to me.
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