Higher Credit Scores from Mortgage Broker... Why??? Which, should I use during rebuild process?

[UpandUp]

Thanks for all the prompt answers on this forum.  I've used the information here to work on my credit for past 3 months.  My scores from MyFico are 623 and 544, yet I recently applied for a VA home loan and was preapproved.  They reported my scores at 659 644 549.

Is there anyway to"see" what they see as I continue to work on my scores?

[Anonymous]

Unless something changed since you pulled your scores, you do see what they saw.

The scores could be off a little depending on what scoring version was used. myFICO has different versions available.

The only way to really tell if they used a different version is to find out from them or pull your scores again and see if they've updated to the higher scores that your lender seen.

Congrats on the preapproval.

[UpandUp]

Thanks Sidewinder!  It must be a different scoring model.  I pulled my score from MyFico within minutes of getting the response from the mortgage broker (who pulled them during a phone conversation).  My TU 623 (MyFico) 644 (Broker) as an example. 

The actual accounts being reported and their various status is the same.  So I guess it's not super important from a clean-up perspective?  I still have the information I need to continue DVing, HIPPAing, etc as appropriate right?

Thanks for the congrats on the preapproval.  By way of background, the reason this caught me off guard is because I pull MyFico reports often, sometimes twice a week. and in the case of TU it had leveled off at 623.  The mortgage broker I thought needed a 620 to preapprove me, so being close to the line I wanted to bump higher before trying.  

Impatience got the better of me and I applied and that's how I learned that they (broker) saw my TU (which is my middle score) at 644, well within the range to get the VA loan.  It's also of interest because they told me that I'm 15 points away from the next pricing level. So If I can get a 15 point movement upward on the TU, I'll get an even better rate.  

I'm guessing it's relative, and if I see the movement via MYFico, they should see a similar movement via their scoring model.

[Anonymous]

For rebuilding, use reports that come directly from the CRA(like the free annual reports you get). They have the most information on them.

[Anonymous]

Do you know who your lender pulled the report through? Mine uses Kroll Factual Data.

[UpandUp]

Judging by the inqury listing on my report, it says "Factual" pulled it for the lender.  I sought preapproval from two different mortgage brokers and the second has not yet been listed on my reports, so do not know who "they" are using.

[Anonymous]

Factual would be Kroll Factual. That is encouraging, I've been told that Kroll pulls them higher than myFico. In your case, it certainly seems that it was much higher.

We'll see.

Best Wishes.

[UpandUp]

Thanks Random...

I have an offer in on a house, so fingers crossed.

[Anonymous]

up,

my reports came out about 15 points higher and my mortgage lender used Kroll Factual as well. It must be a difference in scoring model.

[UpandUp]

Thanks Teach!  I wish I had access to Kroll's model as my primary focus in getting my credit clean was to secure the VA mortgage.  I also thought I would post for others to see that if in a similar situation their scores may actually be higher (from lender's perspective) than MyFico is reporting.

I actually have (2) preapprovals with the scores previously posted, so may be able to close on a house finally while working in parallel to move into the 700 club.