Mortgage credit reports

[Anonymous]

I am applying for a mortgage and have been reading about credit reports pulled by lenders/LO differing from reports obtained on myfico.com. It seems each CRA may have different information on file for the same person. With trimerged mortgage credit reports can someone explain how the credit report is scored? Are TU EQ and EX scores calculated using all information listed on the trimerged credit report? Meaning everything listed on the trimerged report is used to calculate your TU EQ and  EX score based on each individual scoring model (for example TU04, Beacon 5.0, and EX risk score) ? Or are each TU EQ and EX score calculated using information only reported by each individual CRA? Meaning everything on the credit report is listed altogether combining all information found from all 3 CRA's but the EQ credit score (for example) is calculated using only the information obtained from EQ credit file? All three CRA's have different information on me and I have been reading on how scores can differ by as much as 60 points!! I do not want to waste a hard inquiry if my scores are not high enough to be approved for a mortgage.

[Anonymous]

The actual info shoule be the same, but there are different scoring models used by FICO and the ones the lenders used can often vary be a few points..  THe tri-merge is just all of the info condensed.

[Anonymous]

Thanks for the quick response! But I still do not understand how the combined report is scored does it used everthing listed on the report and then create a score or does it use only inofrmation reported from that individual CRA and then create a score from that information only? Your insight is greatly appreciated!!

[Anonymous]

Combined r eport still shows all three credit scores.  It is just a condensed version so accounts are not listed for each reporting agancy (i.e an account showing up 3 times...on with EQ one with TU and one with EXP).  Think of it as a short hand version of your credit file with all the pertinent information including all three scores.

[AndySoCal]

Each credit bureau is pulled indivdually and the data that is returned includes the score the lender has asked for. The tradelines are merged/blended together there are several methods of how this is done. The credit reporting agency does not score the credit report the credit bureau socres the credit report . The credit bureau is Experian, Equifax and Trans Union. I hope this helps

[Anonymous]

Thanks so much for your reply!

Actually your response was very help and answered my question perfectly.  Your credit score seems so important but at the same time so unattainable. You never know before hand what your actual credit score will be.  The consumer cannot make an informed decision as to whether they are creditworthy or not.  It is very frustrating to say the least. But thanks again for your insight.