Lowered FICO score due to mortgage inquiries

[Anonymous]

Maybe people could also help me understand the difference between the scores that mortgage lenders get and the credit scores that I get when I subscribe to a service that purports to tell me those scores. Right now I subscribe to 'free credit report' from Experian. My score on that service remains at 761, but the scores that my lender has pulled (and reported to me) are well below that. Also on the Experian site, 7 hard pulls are listed. I have consulted with three mortgage companies and 2 insurance companies.

[llecs]

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SusanE wrote:
Maybe people could also help me understand the difference between the scores that mortgage lenders get and the credit scores that I get when I subscribe to a service that purports to tell me those scores. Right now I subscribe to 'free credit report' from Experian. My score on that service remains at 761, but the scores that my lender has pulled (and reported to me) are well below that. Also on the Experian site, 7 hard pulls are listed. I have consulted with three mortgage companies and 2 insurance companies.

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Ignore those scores. Those are not FICO scores. It is impossible to pull your own FICO score, but your lender can and likely will. The only place to get TU and EQ together on the web is myFICO.

To echo everyone, if mortgage and auto inquiries are pulled within a 14 or 30 day time frame, and depending on the CRA and the version of FICO score used, then those inquiries per each CRA are counted as one single inquiry. FICO understands that you'd want to shop around for the best rate when making a major purchase like that.

Make sure you aren't comparing your FICO score from the lender and the FAKO score sold by freecreditreport.com.

[Anonymous]

So, are the scores I get on MyFico the real scores??

[Phoenix-rising]

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@Anonymous wrote:
So, are the scores I get on MyFico the real scores??

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Yes, ma'am.  The scores on myFiCO are the real deal.

[WannaHouse]

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@Anonymous wrote:
So, are the scores I get on MyFico the real scores??

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YES, they are.

[llecs]

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SusanE wrote:
So, are the scores I get on MyFico the real scores??

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I hope I didn't confuse things. Looking back on my post I mean to say "It is impossible to pull your own EX FICO score" rather than saying "It is impossible to pull your own FICO score".

Susan, you were comparing your lender's scores with the scores from freecreditreport.com, right?

Message Edited by llecs on 04-23-2009 08:55 PM

[Anonymous]

Unfortunately, yes.

[llecs]

There is a bit of good news...at least your score didn't drop 50+ points. There's steps you can take to get your FICO score to 750 and beyond.

[musikklvr]

Question: Even though it only counts as one inquiry, they still list them separately on the credit reports right? Because I applied in February to 3 different lenders within 2 days and I see all 3 lenders listed under inquiries on my credit report.

Thanks.

[WannaHouse]

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@musikklvr wrote:

Question: Even though it only counts as one inquiry, they still list them separately on the credit reports right? Because I applied in February to 3 different lenders within 2 days and I see all 3 lenders listed under inquiries on my credit report.

Thanks.

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Yes, they will all list separately, but Fico "sees" them as one inquiry.