01-18-2013 04:00 PM
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?
01-18-2013 04:30 PM
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.
01-18-2013 04:50 PM
01-19-2013 10:00 AM
01-19-2013 11:46 PM
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.
01-22-2013 05:04 AM
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?
01-22-2013 05:33 AM
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.
01-22-2013 08:49 AM
myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.>> About myFICO