Question about CoreLogic and Innovis

[veracious]

Can either of these credit bureaus purchase FICO® scores from Fair Isaac?

I was wondering if this new credit score website listed in Credit in the News board might use their services.

Anyone know?

[llecs]

Innovis is another CRA, but they don't offer scoring, or at least that's not indicated on their website. I've never seen anyone mention Innovis in relation to scoring. I've ordered my Innovis report and there was no option for any sort of scoring, FAKO or otherwise. On a related note, CBCInnovis provides tri-merge services for the big 3 and they use FICO or can provide FICO at the discretion of the lender.

CoreLogic also provides tri-merge services. I have seen a few posts indicating their lender used it (FICO too). CoreLogic also has their own FAKO and they also underwrite a couple of CMSs which use that FAKO (CreditXpert score).

[veracious]

Thanks for the info, llecs.   Two more questions, if you don't mind.

Would this new credit monitoring service I spoke of be able to pull your FICO along with a credit report.

Secondly, would a business such as mycreditplan.org be able to soft pull, and get a FICO score at the

same time. I thought soft pullers only get the report, not the score.

Thanks

[llecs]

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@veracious wrote:

Thanks for the info, llecs.   Two more questions, if you don't mind.

Would this new credit monitoring service I spoke of be able to pull your FICO along with a credit report.

Secondly, would a business such as mycreditplan.org be able to soft pull, and get a FICO score at the

same time. I thought soft pullers only get the report, not the score.

Thanks

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Which new CMS? CoreLogic? They only offer their FAKO via their consumer-provided reports and service, but FICO is an option if a lender uses them as a tri-merge report provider. Or mycreditplan? They offer all 3 FICOs (Beacon 5.0, TU04, and Fair Isaac Risk Model v2). They put it together in a tri-merge format via CBCInnovis, and is the same format as your lender would get. A few of us were able to pull prior to their takedown over a month ago. I was able to save my copy and it looks exactly as the one my mortgage lender provided to me last year.

When I was able to pull via mycreditplan, I believe (or assume) that it was a soft on all 3. I did not pull my full reports to study those softs. There were no hard inquiries. Lenders can get your FICO off a soft pull. I've seen some posts in CCs whereby the poster had his/her CC closed due to a drop in credit score, which came as a soft. Over a year ago I took out a loan though Lending Club. When you apply, they'll pull a soft only on TU and provided my TU FICO. They use TU98 and it precisely matched my TU FICO from here. I'm also a lender via Lending Club and I can see a TU FICO score range (20 pts or so) for each of my borrowers on an ongoing basis as their TU FICO is pulled via a soft. If I see them getting into trouble, I can opt to sell the loan to others.

[veracious]

Thanks again llecs. I was referring to mycreditplan.org  and I must have missed that they partnered with CBCInnovis.

Also, you cleared up my question about softs vs hards and credit score availability.  Knowing that softs from a creditor

can be one of the reasons you can get CLI since your creditor can see your score changes as well.

Good to know.

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 eta: Oops, forgot to mention that when I order my CoreLogic__  CoreScore it won't be a FICO  score  then.

[RobertEG]

While Innovis is a small no. 4 on the list, they are nonetheless still an active player of the game.

The joint committee that develops the CRA reporting manual ("Metro2 Committee) includes Innovis as a member, so the Metro2 reporting criteria, upon which scoring is based, at least has their input.

Whether they could offer FICO scores is dependent upon whether they choose to license the algorithms from Fair Isaac.  CRAs dont purchase scores from Fair Isaac, they license the algorithms and do the scoring themselves.  Since few credtiors report regularly to Innovis, any FICO score they produced would be extremely skewed.  I dont see any value to the general credit community, so doubt that they could sell them.  It would most likely cost them more to license than they would retrieve in revenue.

[AndySoCal]

Both of them pull FICO scores for lenders. Pulling credit reports for consumers is quite a different story. In order pull credit reports and score(s) for a consumer requires a whole different set of permissions from the bureau in case the FICO score I think FICO has to sign off as well.If you dont have those permissions you cannot offer the service or the product(s).