Score confusion

[bmblbg]

I've been working with a mortgage lender @ my credit union who told me to work on my scores and report, and that once my middle score reached 580, I would be eligible to apply through some special program they offer.  So I obsessed over it and got scores of EX (experian.com): 643, EQ (myfico.com) 583, and TU (myfico.com) 513.  We were so happy!  So yesterday he pulls my scores and AUGH! They were 563/569/583.  What the heck?!?!  I was pretty sure the Experian.com score was going to be off, but I thought that the myFICO scores were the "true" scores?  I'm confused and discouraged....  And then there's the score hit I took for the (useless) hard inquiry! 

[pizzadude]

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@bmblbg wrote:

@I've been working with a mortgage lender @ my credit union who told me to work on my scores and report, and that once my middle score reached 580, I would be eligible to apply through some special program they offer.  So I obsessed over it and got scores of EX (experian.com): 643, EQ (myfico.com) 583, and TU (myfico.com) 513.  We were so happy!  So yesterday he pulls my scores and AUGH! They were 563/569/583.  What the heck?!?!  I was pretty sure the Experian.com score was going to be off, but I thought that the myFICO scores were the "true" scores?  I'm confused and discouraged....  And then there's the score hit I took for the (useless) hard inquiry! 

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Your lender likely pulled the FICO 04 score which is the same EQ score sold here at MyFICO.   The TU version sold here is the TU 98 FICO version, which isn't used much by mortgage lenders.   The score you purchased from Experian.com is not used by any lenders and can't be correlated to a FICO score.

Take a look at these sticky threads if you haven't already:

Credit Scoring 101:

http://ficoforums.myfico.com/fico/board/message?board.id=ficoscoring&thread.id=29793

The Son Of Credit Scoring 101

http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/The-Son-Of-Credit-Scoring-101/m-p/718550#U718...

[JM-AM]

Im confused at what you are implying.

You stated MyFico 583 ... Lender pull 583 ... Scores the same

TU MyFico 513 ... Lender pull 563 ... Scores are higher

Experian 643 ..., Lender pull 569... Experian score had no value

So according to your complaint it holds no value unless I am totally missing something according to the numbers you posted.

[MzKoli]

The EX score is a fako, your EQ score should be the same if pulled on same day. The TU you get on this site is the TU98 scoring model most lenders use TU04. As far as I know the only way to get true EQ & TU scores is a lender pull.... the others just "put you in the ballpark". Sorry for your disappointment but don't get discouraged.

[MzKoli]

Should be true EX and TU is lender pull...

[bmblbg]

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@JM-AM wrote:

Im confused at what you are implying.

You stated MyFico 583 ... Lender pull 583 ... Scores the same

TU MyFico 513 ... Lender pull 563 ... Scores are higher

Experian 643 ..., Lender pull 569... Experian score had no value

So according to your complaint it holds no value unless I am totally missing something according to the numbers you posted.

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Oops!  I guess I didn't list the bureaus on the lender pulled score!  They were EX -563 EQ-569 TU-583.  None were the same...and the trending of which bureau was highest and which was lowest was basically the exact reverse.  Hence the confusion.  Even the mortgage consultant was surprised.  Time to kick my efforts into overdrive!!

Thanks for all the input everyone!

[tooleman694]

The only score iv pulled that is the same as my mortgage lender is my EQ score.. But TU and EX I can only dream and guess what they are..

Pisses me off..

[JM-AM]

I would ask lender to see the report they pulled.

Tri merge report will most likely show TU04 being used... Equifax using Beacon 5 ... Experian using V2

Some tri merge companies only show bureaus as 04... Beacon 5...V2 ... 

There isnt any way I know of to pull a different score for your Equifax Beacon score unless something changed in your reports between pulls. Could be as simple as a balance increase, but I would compare reports.

Good luck, hope you have a successful journey.

[bmblbg]

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@tooleman694 wrote:

The only score iv pulled that is the same as my mortgage lender is my EQ score.. But TU and EX I can only dream and guess what they are..

Pisses me off..

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Haha!  YES!! Same here.  Well, I'm just going to shoot for the stars and cross my fingers! 

[bmblbg]

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@JM-AM wrote:

I would ask lender to see the report they pulled.

Tri merge report will most likely show TU04 being used... Equifax using Beacon 5 ... Experian using V2

Some tri merge companies only show bureaus as 04... Beacon 5...V2 ... 

There isnt any way I know of to pull a different score for your Equifax Beacon score unless something changed in your reports between pulls. Could be as simple as a balance increase, but I would compare reports.

Good luck, hope you have a successful journey.

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Great!  That's exactly what I'll do.  Thanks!