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New Member
Posts: 6
Registered: ‎01-06-2013
0

confused about where lender is getting their scores

I purchased my equifax and transunion score here and my experian score from experian. My top two scores were through myfico. However, when I had my credit pulled for a mortgage the middle score they got was 17 points lower than the scores here. The lender was unable to tell me where they get their score from. I was under the impression that myfico was the score that lenders use. Was buying this product a waste of $$ or should I try another lender other than my credit union?

Valued Contributor
Posts: 1,671
Registered: ‎05-24-2007
0

Re: confused about where lender is getting their scores

The EQ score would have matched EXACTLY the score here.

 

The TU score would be similar to the score here. They would have used TU FICO 04 and the one here is TU FICO 98.

 

The EX score you bought from EX is not used by ANY lender for anything - completely useless.

 

So then you just need to know if your middle score was TU or EX.

Valued Contributor
Posts: 3,406
Registered: ‎12-19-2012
0

Re: confused about where lender is getting their scores

+1, buying your scores here was not a waste of money. My middle score was EQ fico and it matched exactly with what I pulled here. Lenders use a different TU fico than what was provided here but the two should be close. My TU fico pulled here was 16 pts lower than what the lender pulled...not complaining. :-)
Cards: Orchard Bank ($1100) | Cap1 Cash Rewards ($2500) | Chase Freedom ($1000) | Best Buy ($2500) | Discover It ($1000) | Barclay Rewards ($2500) | Current scores: EX FAKO: 684, CK TU: 649, FICO EQ: 680, FICO TU: 698, FICO EX: 658 Happy Homeowner Since 2/6/13! :smileyhappy: Last App: 4/5/13 Gardening until July 2014
Regular Contributor
Posts: 223
Registered: ‎01-11-2009
0

Re: confused about where lender is getting their scores

Get a copy of whatever your lender pulled. Your LO should send it right over. 

Valued Contributor
Posts: 3,406
Registered: ‎12-19-2012
0

Re: confused about where lender is getting their scores

+1, and please post scores lender vs myfico.
Cards: Orchard Bank ($1100) | Cap1 Cash Rewards ($2500) | Chase Freedom ($1000) | Best Buy ($2500) | Discover It ($1000) | Barclay Rewards ($2500) | Current scores: EX FAKO: 684, CK TU: 649, FICO EQ: 680, FICO TU: 698, FICO EX: 658 Happy Homeowner Since 2/6/13! :smileyhappy: Last App: 4/5/13 Gardening until July 2014
Valued Contributor
Posts: 3,302
Registered: ‎06-09-2010
0

Re: confused about where lender is getting their scores


whipster wrote:

Get a copy of whatever your lender pulled. Your LO should send it right over. 


There is no requirement for a broker or LO to give you a copy.

 

Most LO's and Brokers pull a Tri-Merge report, which includes all 3 Credit Bureaus FICO model scores and reports.

 

The Tri-Merge report is pulled from a third party which pulls the reports from the Credit Bureaus.

Good Luck
May all your dreams and wishes become a reality!
New Member
Posts: 6
Registered: ‎01-06-2013
0

Re: confused about where lender is getting their scores

Wow, this all so overwhelming! So is it best to buy TU score from here and TU to get a better idea of what the lenders will see?

New Member
Posts: 6
Registered: ‎01-06-2013
0

Re: confused about where lender is getting their scores

Wow, this so overwhelming! So should I buy my TU score from here again, and buy it directly from TU in order to get a better idea of what the lenders see?

Valued Contributor
Posts: 2,300
Registered: ‎08-25-2011
0

Re: confused about where lender is getting their scores

Yup buy the TU here so you get an idea where you are at. My TU score here is about 20 points lower then what my lender got.

 

I think it is common for that to happen, the TU98 wasn't as forgiving.

Valued Contributor
Posts: 3,406
Registered: ‎12-19-2012
0

Re: confused about where lender is getting their scores

Don't buy the score directly from Transunion because it is a FAKO score and means nothing. The TU score from myfico is the most accurate and should only vary a few points from the TU score the lender pulls because on myfico they use TU98, and most lenders pull TU04. But as others mentioned, your EQ fico should match what is shown here when both are pulled back to back. You can't buy your EX fico score, you can only get it from a lender pull.
Cards: Orchard Bank ($1100) | Cap1 Cash Rewards ($2500) | Chase Freedom ($1000) | Best Buy ($2500) | Discover It ($1000) | Barclay Rewards ($2500) | Current scores: EX FAKO: 684, CK TU: 649, FICO EQ: 680, FICO TU: 698, FICO EX: 658 Happy Homeowner Since 2/6/13! :smileyhappy: Last App: 4/5/13 Gardening until July 2014

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