Private Mortgage Not Reporting

I’ve had a condo for 6 years, with a private mortgage throughout that time.  Now I’m looking to buy a house and my credit doesn’t show any mortgage history – which apparently is showing as a negative on my credit report.

How do I go about getting my lender (who is more than happy to report on my perfect payment history) to report to the credit bureaus?  The lender says he’s never done so before but is happy to help.

Travis

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Hey Travis,

Something tells me it would be cost prohibitive for him to report one individual mortgage tradeline to the big three CRAs.  There is a credit bureau called PRBC that offers such a service, but I’m not aware of any lenders that use the BPS substitute for FICO.  The best bet would be adding the tradeline through alternative credit to a mortgage credit report.  Your mortgage lender can do that for around $15 total cost.  It won’t affect the credit score, but a six-year mortgage verification will be enough credit depth to qualify you (creditwise) for a $417,000 (FNMA limit) mortgage loan with little or no money down. 

Thanks for the questions and hope this helps.

Paul