article Fannie Mae Wants You to Know Your Options in myFICO Blog

Fannie Mae Wants You to Know Your Options

Shon — Tue, 17 Aug 2010 00:24:04 GMT

If you're looking for help on your current mortgage, you probably wouldn't think of turning to Fannie Mae. Although it's a giant in the real estate industry, Fannie Mae has always focused more on lenders and securities, and less on individual homeowners. So I was thrilled to learn that Fannie Mae just launched a new website for people struggling to pay their mortgage. The site helps visitors clearly understand their options so they know what to do to stay in their homes. I highly recommend it.

Re: Fannie Mae Wants You to Know Your Options

cyndyed — Tue, 31 Aug 2010 20:34:59 GMT

Really?? FICO SCORES REALLY?? After contacting a lender for refinancing on my mortgage,, the scores given to me here ARE NOT THE SCORES THE LENDERS SEE.. DONT PAY THE MONEY. I have excellent credit anyway but there is a GREAT DISCREPANCY between the LENDERS scores and THE 'REAL FICO SCORES." I think its just another way to bilk the american public out of money. QUIT LYING,, THESE ARE NOT THE REAL LENDERS SCORES.

Re: Fannie Mae Wants You to Know Your Options

Barry — Wed, 01 Sep 2010 18:30:20 GMT

There have always been different - newer/older - versions of FICO scores used by lenders. While some lenders may pull versions that are different from the Equifax and TransUnion FICO scores offered on myFICO, I can assure you that the scores provided by myFICO are the "real" FICO scores used by lenders. In addition to the possibility that different versions of the scoring formula may be a reason for the discrepancies in scores you're seeing, changes in the information on the reports may also be causing these differences.

Re: Fannie Mae Wants You to Know Your Options

forteener — Wed, 02 May 2012 14:01:50 GMT

Well, you're both right, partially.

There are various algorithmic models unique to each bureau and subscribers can, and do, request certain ones for their own analysis.

In broad terms, a tri-merged report for the purpose of mortgage credit is going to use different models than one for financing a new car for example.

Typically, however, the score seen here on myfico is Not the same algorithm used for a mortgage so is different.

All that being said, at least you get an up to date version here of generally what is going on with your score. The more knowledge about what makes scores move, the better!