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Posted in Mortgage
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Question By
dmbrownlee

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If your bank sells your mortgage, does this count as a closed account?
The bank that issued me my mortgage sold the mortgage to another bank a few months later. In my Credit Score Center on this site, it lists the "new account" with the original bank, then it lists it as a closed account with the original bank and then a new account with the new bank. I have read that having closed accounts is not good for the credit score. Should I report this as an error?

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Bank of America did the same thing to me

Is there anyone out there with an answer?  I'm still paying on the loan, but a "closed account" hurts my credit score.

Reply by
crocodilejones

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My Bank of America mortgage just did the same thing as well. Dropped my score 7 points. Is this a true reflection of the credit report or just a Credit Karma programming error?

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Bank of America just did that to me too.

My score also dropped 7 points as a result (including my official FICO score). We need answers!  Help!!!

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Bank of America did the same thing to me

It's been 3 months since Bank of America sold my mortgage to M&T Bank. M&T told me that after October they would begin reporting to the credit bureaus. I called M&T yesterday (11/20/13) and they told me they've already reported to the 3 bureaus. Credit karma doesn't show it so I contacted Trans Union directly. They do not show this reporting either. Not sure where do go from here...If I need to wait longer or what! Getting annoying!

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