I'm in the process of securing a mortgage. My mortgage lender pulled my credit score approximately a month ago and it came back at 695 which was lower than it has been in the past. We assumed it was low because of a late payment reported by my bank. I explained the situation to my bank and they agreed to remove the late payment. My mortgage lender then pulls my score again yesterday (giving the bureaus 3 weeks to adjust) and it comes back showing the late payment removed but the score is now 693.
How can removing a late payment still result in a lower score? Is there anything I can do about it?
Edit: I haven't received the report from my lender yet, but according to the soft inquiry via Credit Karma my score is 731 with no late payments, no derogatory marks, 4.25 years of credit, 13 open accounts all in good standings, 5 hard inquiries in the past 2 years (only 1 being recent)