“Statement of dispute” delaying mortgage refinance



Dear Experian,

We are refinancing our house. There was an account on my husband’s credit report that he had disputed at the time it was reported. It is still showing disputed. The mortgage lender told us they needed a letter from the company stating it is no longer being disputed. We did that. Now they are saying they need the statement of dispute to be removed from the credit report, and they are telling us the credit bureau is going to charge us to do that. I have never heard of the credit bureau requiring payment. Is this correct?

-        MMI


Dear MMI,

Experian never charges a person to dispute information in their credit report, including requests that statements of dispute be removed. However, the mortgage lender may charge you for a new credit report in order to verify that the dispute statement has been removed before proceeding with loan approval.

If the statement was placed on the report by the lender, the lender typically removes it when the dispute process is completed.  If that hasn’t happened, Experian can remove it for you upon request.

If you haven’t already, we recommend that you request a current copy of your credit report directly from Experian.  That will let you confirm that the statement is still present and, if so, make it easier to identify the specific account for our customer service representatives who will assist you.

You can obtain instructions to request your free annual copy of the report online at http://www.experian.com/assistance/free-annual-credit-report.html.

Thanks for asking.

Maxine Sweet
Vice President, Public Education

  • ©2015 Experian Information Solutions, Inc. All rights reserved.