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Fannie Mae contends that looking at credit card payments can even help those potential borrowers who previously had a late payment, but generally pay their credit cards off in full each month..

THIS!!

Better off you have no late payment at all but this has happened to me/us within the last decade. When we relocated from LI to the Boston Metrowest area in late 2007, we ended up needing to take a mortgage on this house pending the sale of our LI home. In order to *simplify* our lives my husband decided that the way to go with mortgage repayment was online as opposed to writing out a check and mailing it every month as I had done in Days of Yore.

He duly set the account up and inadvertantly/carelessly (depending on who you listen to) transposed 2 digits on the account number. We picked it up before the next payment was due just because I couldn't fathom why our mortgage payment hadn't been taken from our bank account and we found the error. Still showed up as a late payment.......and stayed there on record despite my husbands protestations that it was a mistake and *should've been obvious* (!!?!) Made no difference subsequently as far as far as I can tell......other than priming me for double checking such things since we are once again in the throws a sort of similar transition (small mortgage on our *retirement* home......covered by tenants pending the day I can get dh to commit to becoming an OAP)

If this reads like a wordy response/timely warning.......try to imagine everything I've left out ;)
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