topic Re: myFICO vs. Lender Pulled Scores in General Credit Topics

myFICO vs. Lender Pulled Scores

AquaCredit — Tue, 08 Nov 2011 00:53:22 GMT

Simple quesiton.

Anyone have any experience comparing and contrasting these scores? If you pull a score directly from myFICO and then have a lender pull the score, are they exactly the same or is their a difference? Logic would tell me they're the same, however, stranger things have happened.

Re: myFICO vs. Lender Pulled Scores

Balbanes — Tue, 08 Nov 2011 01:51:51 GMT

Some lenders will buy a certain scoring model from fico. The ones that myfico gives us is their general CC model. But there are mortgage/auto enhanced fico scores. There are newer and older scoring models. FICO has many products for their lender customers. So yes your score could change dependant on the scoring model purchased by the lender.

Re: myFICO vs. Lender Pulled Scores

AquaCredit — Tue, 08 Nov 2011 03:55:17 GMT

Interesting. I sort of assumed as much. I'm really close to that 620 threshold for a mortgage and am waiting for one last cc payment to post.

So far, my EQ is 617, my TU is 629 and my Exp FAKO is 681. Since they use the middle score, I'll be a 629 (assuming the FAKO isn't too far off.) But I have no idea where the numbers will actually land. Ugh...

Re: myFICO vs. Lender Pulled Scores

Balbanes — Tue, 08 Nov 2011 04:18:05 GMT

Unfortunately the FAKO could be right on the money or it could be worlds apart. You won't know one way or another until the lender pulls. It looks like you are well on your way though. Good luck!

Re: myFICO vs. Lender Pulled Scores

haulingthescoreup — Tue, 08 Nov 2011 04:39:07 GMT

Don't forget that the TU FICO score here is a TU98, and your lender is likely to pull a TU04, a newer FICO score. Could be higher; could be lower. :P

Re: myFICO vs. Lender Pulled Scores

haulingthescoreup — Tue, 08 Nov 2011 04:40:19 GMT

Balbanes wrote:
Some lenders will buy a certain scoring model from fico. The ones that myfico gives us is their general CC model. But there are mortgage/auto enhanced fico scores. There are newer and older scoring models. FICO has many products for their lender customers. So yes your score could change dependant on the scoring model purchased by the lender.

Actually, the scores here are (or have been) the mortgage scores, not the CC versions. :)

The Equifax score is 99% likely the EQ score your lender will pull. The industry name for it is Beacon 5.0.

Re: myFICO vs. Lender Pulled Scores

Balbanes — Tue, 08 Nov 2011 04:48:02 GMT

haulingthescoreup wrote:
Balbanes wrote:
Some lenders will buy a certain scoring model from fico. The ones that myfico gives us is their general CC model. But there are mortgage/auto enhanced fico scores. There are newer and older scoring models. FICO has many products for their lender customers. So yes your score could change dependant on the scoring model purchased by the lender.
Actually, the scores here are (or have been) the mortgage scores, not the CC versions. :)

The Equifax score is 99% likely the EQ score your lender will pull. The industry name for it is Beacon 5.0.

Thanks for the schooling. Always thought they were the CC scores. :smileyvery-happy:

Re: myFICO vs. Lender Pulled Scores

haulingthescoreup — Tue, 08 Nov 2011 04:54:11 GMT

Back in the day, when we could buy our EX here, and many mortgage lenders were still pulling TU98, you could say with a straight face that this was where to find out what your mortgage lender would see. Not so much any more, though. :(

Re: myFICO vs. Lender Pulled Scores

Balbanes — Tue, 08 Nov 2011 04:59:35 GMT

Yea, I miss pulling my EX score from myfico.

Re: myFICO vs. Lender Pulled Scores

AquaCredit — Tue, 08 Nov 2011 23:48:41 GMT

Sounds like the FICO is now a FAKO. Since there are so many FICO's, you really never know which one is real.

I'm going to start pushing my US Senator. This is completely bizarre that our entire banking and credit industry is designed around a system that is not easily understood or accessed by the consumer.

The fact you only get one credit bureau copy a year is wrong. It's your private information. It should be protected and yours to access at any time. The fact you can only get your score from a lender is wrong. The fact that there are so many different scores is wrong.

Re: myFICO vs. Lender Pulled Scores

Balbanes — Wed, 09 Nov 2011 00:18:43 GMT

AquaCredit wrote:
Sounds like the FICO is now a FAKO. Since there are so many FICO's, you really never know which one is real.

I'm going to start pushing my US Senator. This is completely bizarre that our entire banking and credit industry is designed around a system that is not easily understood or accessed by the consumer.

The fact you only get one credit bureau copy a year is wrong. It's your private information. It should be protected and yours to access at any time. The fact you can only get your score from a lender is wrong. The fact that there are so many different scores is wrong.

There is a good reason for that. It was designed for lenders. The credit reporting agencies...FICO...their customers are the lenders. Not us. It's taken many years and many federal laws to get us to where we are at today in terms of transparency with the CRAs and FICO.

Re: myFICO vs. Lender Pulled Scores

AquaCredit — Wed, 09 Nov 2011 01:52:46 GMT

Oh, I understand. But the point is, its wrong if consumers personal information isn't protected and we don't have free access to what people are saying about us. Fact is, If I have your social security number, I can pull your credit, and put an entry on there saying you owe me money and you can't stop it. This is exactly why people are protesting on wall street. This is really crooked... And there are a TON of very evil collection agencies in this country collecting on debts that aren't even valid. It's a thriving and viable business and its because of THIS system that they survive. And why is FICO selling us a score knowing that most lenders aren't even using it?

Re: myFICO vs. Lender Pulled Scores

Balbanes — Wed, 09 Nov 2011 02:34:31 GMT

AquaCredit wrote:
Oh, I understand. But the point is, its wrong if consumers personal information isn't protected and we don't have free access to what people are saying about us. Fact is, If I have your social security number, I can pull your credit, and put an entry on there saying you owe me money and you can't stop it. This is exactly why people are protesting on wall street. This is really crooked... And there are a TON of very evil collection agencies in this country collecting on debts that aren't even valid. It's a thriving and viable business and its because of THIS system that they survive. And why is FICO selling us a score knowing that most lenders aren't even using it?

I'll do devil's advocate. It's not your personal information that is being reported. It's the banks financial information that is being reported. It's not really your credit report. It's the bank's credit report on you. That is how they look at it. They are paying to report and be reported to. They covet their right to do this. It's a big club...and we aren't in it. And they believe in the golden rule. Now they are obligated to follow state and federal laws in regards to reporting and collecting. The information does have to be accurate according to federal law.

Don't get me wrong, I have no love for the system. I believe it is crooked. Look who runs it. How could it not be!:smileyvery-happy:

I can't speak to as why FICO only sells one of their products to consumers. We just really aren't their big customers.

Re: myFICO vs. Lender Pulled Scores

tuckandroll — Wed, 10 Oct 2012 18:11:43 GMT

I just had mine pulled yesterday for FHA loan this is what I found out. I have been watching my scores very closely by all means necessary to get to this point. I was able to raise them considerably in a few months.

TU -

FICO 692 (edit 792 was typo sorry)

creditkarma = 591 & transrisk 704

Lender 679

EQ -

FICO 646

per EQ website 639

Lender 646

EX -

per EX website - 667

Lender 692

Lender used credit technologies to pull scores they use the following formats (it comes with a nice report that lists all this out)

TU - FICO Classic 04

EQ - FACTA Beacon 5.0

EX - Fair ISSAC Ver 2

Hope this helps.

Re: myFICO vs. Lender Pulled Scores

llecs — Wed, 10 Oct 2012 18:07:48 GMT

Tuckandroll...of course the creditkarma, transrisk, the score from equifax.com, and the score from Experian are all FAKOs, but did the 792 come from myFICO.com? Did you pull the 792 on the same day as the lender's 679? 113 points seems like an extreme.

Re: myFICO vs. Lender Pulled Scores

tuckandroll — Wed, 10 Oct 2012 18:15:22 GMT

llecs wrote:
Tuckandroll...of course the creditkarma, transrisk, the score from equifax.com, and the score from Experian are all FAKOs, but did the 792 come from myFICO.com? Did you pull the 792 on the same day as the lender's 679? 113 points seems like an extreme.

I understand they are FAKO's, some ppl including myself were curious on the difference between the FAKO's and lender pulls. I fixed the FICO score, it was a typo 692.

Yes all scores the same day, lender pull was last. Today of all the FAKO's are the same except EQ dropped due to the inquiry 5pts.

Re: myFICO vs. Lender Pulled Scores

llecs — Wed, 10 Oct 2012 18:52:53 GMT

That makes more sense now for TU. Mine was 10 off in the favor of TU98 and DW's was off 30 in favor of TU04.