New Mortgage Reported

[LisaJ]

...On all three CRAs.

Here are the changes:

TU- held steady

EX-Don't know; haven't purchased

EQ-Went up 5 points.

I knew that some of you were waiting to see how a new mortgage might affect...so, that was my experience.  It was also my first mortgage. 

Message Edited by LisaJ on 12-11-2008 10:29 AM

[Thunderseven]

Lisa,

My first mortgage just posted today as well after three months of payments.  It only reported to EX and EQ today and both of them dropped.  It also only reported one months worth of payments though, so I'll need to check on that tomorrow.  It could be the reason for the big drop.  I'm glad you posted your results.  I was curious as to what others experienced when their mortgages posted.  Now I know.

Thunderseven....

[LisaJ]

Thunder, this was month one--I literally made that payment less than 2 weeks ago. I was SHOCKED that it posted so fast.

The formula works differently, from what I understand, depending on your credit history. I had only store and one Visa, all paid off, and I have never had a mortgage before.  AND, I had marginal to bad credit to begin with. I think this diversified my credit profile a little.  I will never understand the unpredictability of CRAs!

I think I am going to check EX today. I have the highest score there, so I am really curious.

Message Edited by LisaJ on 12-12-2008 05:03 AM

[Thunderseven]

Lisa,

I went ahead and ran MyFICO's again today to see what kind of affect my mortgage posting actually had on my scores.  TU and EX didn't budge.  EQ went up 16 points, but I'm not sure if was due to the mortgage, or the changing of a loan type from revolving to installment.  Either way, I didn't take a hit.  Made my day.

Thunderseven...

EX 703 - TU 694 - EQ 668