Lack of Open Mortgage credit references on credit report?

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The loan officer said I had lack of open mortgage credit references on my consumer credit report. I asked him what that meant and he didnt know. I mean if you are going to turn someone down at least know the reason why right? Someone anyoneeeeee know what this means I tried to google lack of open mortgage credit references but really nothing came up which is quite weird for google.

Lack of Open Mortgage credit references on credit report?

It means that you don't have a current mortgage and there is probably no history of mortgage on your report. Even if you have owned before but paid off and there is no proof, the only difference is you will be rated as a first time home buyer. That can be good and bad. Your credit score generally needs to be a bit higher but fannie mae still has a lot of good programs out there. If you need some help, that is what I do for a living. Email and I can look a t your credit and see what they turned you down for.

kellilynnmorris@yahoo.com

Lack of Open Mortgage credit references on credit report?

It means you do not have a mortgage reporting on your credit report. Therefore there is nothing to judge how you will pay the mortgage for which you are applying. If you have other open accounts I assume they have negative information reporting because otherwise the lender could have used them instead of past mortgage history.

Lack of Open Mortgage credit references on credit report?

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