Mortgage Loans

[rckstrscott]

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MissKay wrote:
Yea, now I feel deflated. Trying to get my stuff together and this just makes me wonder about the whole process. This is what we get for being proactive and educated about our credit situations.

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Just to throw some positive vibes into this: My TU98 on here was a 713, and my TU04 which the lender pulled today was 722.

So I actually gained points!

-scott

[pipeguy]

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Jake0215 wrote:

 No it won't. It will be a transrisk score.

 But let me say this is getting ridiculous. One can buy 4 or 5 seperate scores from several sites (including this one), none of which will be the score the lender actually uses. When did it become their business to withold information about us? Its like going to the doctor and being given several diagnosis all of which you are expected to believe... none of which are correct, all the while paying for the service. And to boot, Its OUR information.

Unfortunetly, the more you know on this issue, the more helpless you feel.

If TU04 is the score most lenders are using fine... but give me access to it before I apply for any credit. That way I dont waste a hard pull expecting one outcome. Which oh by the way... effects your score, so even the score you pull isnt correct. UGH.

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++ 1 Couldn't agree more !

[jsank]

That seems to be the case. If you have a good score TU'04 tends to report higher than TU'98, but if you are in the lower end TU'98 reports significantly higher than TU'04. As an example my wife had a CK Transrisk (which seems to run close to TU'98) of 686 and a lender pull 717. For me I had myFico TU'98 of 614 (CK Transrisk 604) and the lender pulled a 579. OUCH!

[seemund]

How do I really know the difference?

Are myFICO.com scores similar to what the Lenders will pull?

Current myFICO.com EQUIFAX score is 700+ (just trying to understand if I should worry about it or not.. FHA LOAN)

[LondonMassey]

My transrisk on CK is a 601 and my lender pulled a 680 TU... talk about shaking in your boots.  I had checked CK the night before the lender was to call me back after pulling my credit and working numbers for my pre-approval.

[tubesock]

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LondonMassey wrote:

My transrisk on CK is a 601 and my lender pulled a 680 TU... talk about shaking in your boots.  I had checked CK the night before the lender was to call me back after pulling my credit and working numbers for my pre-approval.

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Wow! WTG! Guess it worked out for you!

My CK is 765, my TU here is 739...wonder what it really is???

[FicoTron]

My CK is 661, my TU98 is 729. Assuming its cause CK doesn't factor all accounts into AAoA. But that's a lot of points.

[Student_Loans_Kill]

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Walt_K wrote:

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92235 wrote:

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MissKay wrote:
So I guess there is no point purchasing a TU score from this site? Does anyone know where we can purchase one? I bet if everyone stopped paying for the TU report, myfico would get us the correct one.

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This is my thoughts exactly. Plus it is $20 now to do a pull. My opinion is that the TU98 score on here is just as much a FAKO as Credit Karma. You may as well use CK for free for just as helpful of a score as the TU98.

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That's probably not too far off if the lender is using TU04.  My understanding though is that there are some out there that are still using TU98, so it's not completely worthless.

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i'm finding out it's worthless and not a good investment

[DrJim]

It seems that I read somewhere that TU04 weighs the last two years of credit more that the sixth and seventh years.  If this is so it seems that better credit in the short term would cause an increase over older models, like TU08.

[marty56]

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Student_Loans_Kill wrote:

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Walt_K wrote:

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92235 wrote:

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MissKay wrote:
So I guess there is no point purchasing a TU score from this site? Does anyone know where we can purchase one? I bet if everyone stopped paying for the TU report, myfico would get us the correct one.

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This is my thoughts exactly. Plus it is $20 now to do a pull. My opinion is that the TU98 score on here is just as much a FAKO as Credit Karma. You may as well use CK for free for just as helpful of a score as the TU98.

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That's probably not too far off if the lender is using TU04.  My understanding though is that there are some out there that are still using TU98, so it's not completely worthless.

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i'm finding out it's worthless and not a good investment

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Not really.  Even if 99.9% of lenders used TU98, you could get the one that didn't.  Also anything you do to improve your FICO score, any version of, will also help or at least not hurt any version of a FICO score.  FAKO scores cannot make that claim.  Also there are FICO scores we cannot see like auto enhanced.

In my case with a single derog on my TU report, I could benefit from TU08 score wise but any MR would still show the major derog and questions might be asked or I could be denied outright.

Someone who is dependent on FICO score variations is most likely in credit building/credit repair mode anyway so a TU score here  and the simulator will help in that process.  May not give you the answer you wanted but it will help.

Using a CMS services that allows daily pull will also help so I would consider True Credit since it allows daily pulls of your TU report which can help deciding when to buy a TU score here.