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I went to fill out the paperwork for my mortgage on January 21st. On January 22nd, I got an alert from my credit monitoring that the previous day there was a hard inquiry on my credit. I don't believe it came from the lender as it was from Capital One and that is not my lender. So I called the 800 number listed with the inquiry and they told me that an account had been opened in my name with the last name spelled incorrectly but with my SSN, Birthday, etc. They closed the account immediately as fraudulent and stated they would send me a letter and form to complete. I reported it to my lender the same day. He had me write a Letter of Explanation for the inquiry and said a letter from Capital One would be required. I still haven't see the letter from C1, but they did say 7-10 business days so hoping it comes in soon. Anyone have any idea if this will affect anything? I've been very diligent about not opening credit or anything while in this process and it was something I was made aware of prior to even starting. I don't want my loan to fall through or experience delay but I fear it may be headed that way.
The underwriting computer system (DU) might kick your application out or flag it. It would then go to a real person (underwriter) who will examine the issues. Your letter of explanation will likely eliminate any concern (if there was one to begin with). I would spend ZERO time worrying about this.
I forgot I posted this. I pulled my credit reports through annualcreditreport.com last Thursday and I don't think that this was an actual ID theft attempt. It looks to me like someone transposed some numbers or something, maybe in the SSN. The name and address on the inquiry (showed up on the TU report) was in another state with a similiar name to mine. It'd be a really weird coincedence but maybe their SSN is only a few numbers off from mine as well. I've already submitted an LoE to the lender, but I haven't seen anything from Cap One yet.
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