How do you guage increases to your FICO mortgage scores between Credit Report/Score pulls?

[Anonymous]

If your FICO 8 credit score increases by 25 points (or any number), what - if any - expectation of increase should be expected on the mortgage FICO scores? I realize it will vary by each person but also that a lot of folks here have pulled their scores enough to notice whether or not there is a correlation?

Thanks

[Lemmus]

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@Anonymous wrote:

If your FICO 8 credit score increases by 25 points (or any number), what - if any - expectation of increase should be expected on the mortgage FICO scores? I realize it will vary by each person but also that a lot of folks here have pulled their scores enough to notice whether or not there is a correlation?

Thanks

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...generally whats good for the goose is good for the gander ...that said, don't expect the changes to be the same or necessarily even in the same direction ...the fico 04 mortgage scoring model uses much older algorithms that weight the same things differently than the 08 model so expecting correlation between them can lead to unexpected results ...watching my 04/08 scores over the past three months I've seen EQ 04 rise while EQ 08 fell, then rose ...by insignificant amounts, but still ...and EX 04/08 moved in tandem but not always the same direction as EQ ...and TU is impossible to predict, at least for me

...however, the things that I do every day to improve my 08 scores tend to improve my 04 scores ...its the aging, old accounts falling off, and differences in medical account weightings that appear to create different results between the 04/08 scores in my case ...hth

[frugalQ]

Lemmus,  this is SOOOO true.

we paid off a car, FICO 08 didn't move for all 3 bureaus, but EX 98 (mortgage version) dropped around 15 points.

[Revelate]

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@frugalQ wrote:

Lemmus,  this is SOOOO true.

we paid off a car, FICO 08 didn't move for all 3 bureaus, but EX 98 (mortgage version) dropped around 15 points.

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Really?  All my FICO 8's dropped 10-15 points but my Beacon 5.0 didn't move at all and my EX 98 is surprisingly (to me anyway) high even after that.

I attributed either to:

1) Auto loans are goodness under FICO 8

2) My remaining installment loans are at a much higher remaining balance to original balance ratio

But no hiccups on the one mortgage score I use for my own personal benchmarking; I had 3 other open installment loans at the time, and a second has been paid off and still didn't budge.  Admittedly it's awfully difficult to move my Beacon 5 anyway unless I do something really dumb which I'm not doing with a mortgage in play heh, YMMV.

[Anonymous]

Are there any morgatge companies or banks that use FICO 8 scores? My FICO 8 score is 65 points higher than FICO 4 mortgage scoring.

[frugalQ]

It was my husbands credit. He still has the mortgage and student loan as open installments on his credit report.

I was using the FICO 8 scores from here to gauge what would happen when the account reported as closed. When it updated on his report, there was no real change to his score. We updated his FICO scores in December from here 4 days before the lender. When the lender re-pulled in December, EX had dropped substantially.

[StartingOver10]

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@Anonymous wrote:
Are there any morgatge companies or banks that use FICO 8 scores? My FICO 8 score is 65 points higher than FICO 4 mortgage scoring.

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No. Read this: http://ficoforums.myfico.com/t5/Mortgage-Loans/FICO-scores-used-for-mortgage-and-where-to-obtain-them/td-p/3817869