Mortgage Lenders using Fico08

[Calster]

Has it been established if any Mortgage Lenders regularly use the FICO 08 model?  If so, is there a list?

[ajsgurl0805]

My broker on Thursday used Fair Issac score 2 (experian) beacon 5.0 (equifax) and classic 04 (Transunion).

[TimeToRecover]

If you look in my signature you can see what models my broker used 2 weeks ago.

[pizzadude]

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@Calster wrote:

Has it been established if any Mortgage Lenders regularly use the FICO 08 model?  If so, is there a list?

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Mortgage lenders are standardised on the FICO04 model.   I am not aware of any lenders using a different model.

[DallasLoanGuy]

we are all standardized because the loans are bundled and sold in groups of loans that are all alike.

'maybe' some portfolio lender like a credit union or small community bank will start using it.... but the bulk of lenders are 04

[creditlady]

So 04 still inclues AU accounts in their scoring?

[DallasLoanGuy]

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@creditlady wrote:

So 04 still inclues AU accounts in their scoring?

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as far as i know it does.

they talked about excluding them.... but i dont think that ever happened.

[itzateach]

My lender said they exclude AU now ugh

[DallasLoanGuy]

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@itzateach wrote:

My lender said they exclude AU now ugh

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is your lender right? or an idiot?

don't listen to the lender..... go to the credit forum here and ask.