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Question By
Sarge22

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Credit score dropped 28 points, listed on Credit Karma as new account, which was current mortgage.
The name was my existing mortgage company, and the amount is my current balance. I have not even refinanced or done anything to that I know of to cause this?? Any thoughts? If they did something internally, why would my credit take a hit?

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Top Contributor
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If it is appearing for the first time, it is a new account for credit and you are only seeing the drop today that you should have seen when it was initially started.   You did not indicate how old the mortgage was.   Your original mortgage lendor may have sold your account to another firm, in which case, it was a new credit which would encounter a reduction; as the language in your loan may not have included any protection for you for selling the mortgage to another lender.   An item which is rarely written into your loan agreement and should be something required on every loan.   Too many times the loan agreement is only reviewed for legalities by the attorney and does not take everything into consideration.

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