Fico mortgage scores are going down & Fico 8 going up. What am I missing?

[Anonymous]

Started rebuilding and monitoring credit only 6 months ago and I have learned a lot from these forms. I completely understand fico vs fako, there are different versions and different score cards AKA buckets. What I can't understand is what matters more or what matters less in raising my mortgage scores. My fico 04 scores are quite a bit higher than my Fico 8 scores.

    9/2015 fico 8 (EQ 579) (TU 595) (EX 569)

mortgage Fico (EQ 625) (TU 653) (EX 638)

no open credit cards or installment loans besides student loan

• care credit card- $687 charged off on Nov.2014
• $131 collection Sept.2014
• $29 collection May 2010
• civil judgement $2,100 June 2010 
• 3 inq only on EQ
• Student loan DEFERRED $9,921 reporting since Jan.2012 reporting 2 90 day lates Nov 2013 and May 2014

   1/2016 fico 8 (EQ 628) (TU 600) (EX 606)

mortgage Fico (EQ 675) (TU 648) (EX 629)

Was able to remove bogus collections / removed all Student loan Lates Except on TU/ wife opened cc added me AU

• care credit card - $687 charged off on Nov.2014
• PRA $0 settled care credit charge off reporting since NOV.2015
• $29 collection on EQ ONLY May 2010
• civil judgement settled but not changed on reports $2100 May2010
• 1 INQ on TU & EX ... 4 EQ
• Student loan CURRENT NOT DEFERRED $9818 reporting since Jan.2012 no lates except TU
• Car loan 13,889 current Sept 2015
• AU Barclay $279 / $1000 limit OCT. 2015
• AU Cap1 $296 / $300 limit OCT.2015
• Cap1 $125 / $300 limit DEC.2015 

I know UTL % is high. Wife paid down both cap1 cards the day due but used savings account that was a limited trans acct. payment returned and high balance reported. but the issue is... WHAT THE HECK AM I MISSING? REMOVED LATES, REMOVED RECENT COLLECTIONS, ADDED PRA REPORTED (after I paid them!) and 46% UTL.  Mortgage fico (EQ +50) (TU -5) (EX -9) I cannot figure out the lost points. what can I do besides taking down UTL%? 

[Anonymous]

P.S. I am looking to have scores and reports mortgage ready by Aug. 2016

[StartingOver10]

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@Anonymous wrote:

Started rebuilding and monitoring credit only 6 months ago and I have learned a lot from these forms. I completely understand fico vs fako, there are different versions and different score cards AKA buckets. What I can't understand is what matters more or what matters less in raising my mortgage scores. My fico 04 scores are quite a bit higher than my Fico 8 scores.

    9/2015 fico 8 (EQ 579) (TU 595) (EX 569)

mortgage Fico (EQ 625) (TU 653) (EX 638)

no open credit cards or installment loans besides student loan

• care credit card- $687 charged off on Nov.2014
• $131 collection Sept.2014
• $29 collection May 2010
• civil judgement $2,100 June 2010 
• 3 inq only on EQ
• Student loan DEFERRED $9,921 reporting since Jan.2012 reporting 2 90 day lates Nov 2013 and May 2014

   1/2016 fico 8 (EQ 628) (TU 600) (EX 606)

mortgage Fico (EQ 675) (TU 648) (EX 629)

Was able to remove bogus collections / removed all Student loan Lates Except on TU/ wife opened cc added me AU

• care credit card - $687 charged off on Nov.2014
• PRA $0 settled care credit charge off reporting since NOV.2015
• $29 collection on EQ ONLY May 2010
• civil judgement settled but not changed on reports $2100 May2010
• 1 INQ on TU & EX ... 4 EQ
• Student loan CURRENT NOT DEFERRED $9818 reporting since Jan.2012 no lates except TU
• Car loan 13,889 current Sept 2015
• AU Barclay $279 / $1000 limit OCT. 2015
• AU Cap1 $296 / $300 limit OCT.2015
• Cap1 $125 / $300 limit DEC.2015 

I know UTL % is high. Wife paid down both cap1 cards the day due but used savings account that was a limited trans acct. payment returned and high balance reported. but the issue is... WHAT THE HECK AM I MISSING? REMOVED LATES, REMOVED RECENT COLLECTIONS, ADDED PRA REPORTED (after I paid them!) and 46% UTL.  Mortgage fico (EQ +50) (TU -5) (EX -9) I cannot figure out the lost points. what can I do besides taking down UTL%? 

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^^^See what you posted in red. This is why your fico 8 scores are low.  The reason your mortgage scores are higher is because you have student loans (this is conjecture as we don't have access to specifically what is in your credit scores). Go to the Understanding your FICO score section to see valuable info on what we think moves the scores up based on anecdotal info from posters here + the info from FICO that is published.

Go to the rebuilding forum. Is the Cap 1 card your only active cc or do you not have any cc's? The rebuilding forum can help tremendously so you get your score up in time for your planned application.  The AU cards are hurting you right now due to high utilization. 

You will need to get rid of the judgment on your report - either pay it and get a Satisfaction or have it vacated (rare, but may be possible). 

[Anonymous]

Thanks for the advice. I paid the judgment last November but it has not been updated to settled on my report. I am not as concerned about my fico 8 scores being low, I am more concerned about my mortgage scores TU and EX going down and EQ going up. I guess my question is, besides my card and AU utilization, what caused my TU & EX 04 scores to go down? I had two 90 day Lates removed from my ex and EQ reports. I had 3 collections removed from all reports (except EQ still reports $29 paid collection from 2010)... Is it from PRA starting to report in 11/15 the paid collection from my 2014 chargeoff? Does fico 04 care more about the date opened vs date of 1st delinquency than fico 8? I am lost because I have read that fico 8 is harder on card utilization than 04. And I know that all fico scores weigh heavy on payment history. I have a clean payment history on my student loans now (minus TU has not updated yet), 3 cards reporting paid as agreed and a car loan paid as agreed... where before I had no positive tradelines. I didn't post in building credit because my question is more about finding out what actions are specifically affecting my mortgage scores. Although building credit forums were very helpful, there is nothing else I can do at this point besides stay away from inquiries, let accounts age, pay on time and wait.

[Anonymous]

Yes, my only cc is the 300 cap1. But from from my understanding fico 4 calculates AU accounts as well. I read understanding your scores and it leaves me more confused. No matter what version of fico, 0 positive accounts and 3 collections should be a lower score than 3 -5 positive accounts with 1 collection. Even with a 46% utilization. And utilization would be about the same with or with out AU. My card is 125/ 300 limit. AU is 296/300 and 279/1000

[EvolvingCreditDiva2]

Wow, i really hope someone answers your question as I've been really pondering the same thing I haven't really been able to find advice here on moving mortgage scores & I reeaalllyy need to know. My Fico 8s have been moving nicely, but mortgage scores not so much. Only piece of info I found from scouring the internet is the possibility that installment loans matter more with the mortgage scores, so I'm going to try getting a couple of my student loans to 80% & see if that works...

[Anonymous]

I have heard that fico 4 (mortgage) scores are easier on people with with less of an account mix or no credit cards. I am not sure lowering the balance of your student loans will help that much or at all. My local credit union told me that having 2 installment loans and 0 cc would help raise my mortgage ficos and may do little for my fico 8 scores.

When the internet says fico mortgage weighs more on installment, I do not believe it means the utilization or original balance to owed balance of the loan. From my understanding it means fico 4 won't ding your score for having a small number of trade lines. Not a small remaining balance.

I am stumped about my score because I had 2 negative accounts, 3 collections, 1judgment and 0 positive accounts. I now have 5 never been late accounts and 1 paid collection with 1 judgment. I still have negatives but more positive. I would think any fico version would increase or at least stay the same.