bunny0456 wrote:
Okay, I heard a lot about MyFico. So I pull my scores to see what they were because I am preparing to buy a house. After, pulling my scores and seeing the numbers I contacted a lender to start the pre-approval process. My scores per myfico were 600 TU and 645 EQ. When the lenders pulled my scores they were 599 EX - 645 EQ - 548 TU. Please help understand why my TU scores are so low if myfico scores are suppose to be fico scores? Does myfico and fico use different fico calculations if so I feel as if I have been misled my myfico. It seems as if myfico scores are just as FAKO as truecredit.
Nope. Not misled, but rather your lender happened to pull a version of the TU FICO score that does not match the version found on myFICO.
The only place you can get your TU FICO is from myFICO, transunioncs.com (note the -cs), and your lender. FICO every so often creates a new version of FICO score. In fact for TU, there is the TU98, TU04, and TU08 versions currently being used by lenders. TU08 was just introduced and you'd be hard-pressed to find a lender using it. MyFICO and Transunioncs.com both offer TU98, which until recently, was being used by most lenders. However, the TU04 version is now the most prevelant, and in your case, certainly differs. As you rate shop from lender to lender looking for the best deal, you'll run into one that still uses TU98.
Like with TU, EQ also has a couple of different versions floating out there. The only place you can get your EQ FICO is from Equifax.com, myFICO, and your lender. The version used by Equifax and myFICO are the most popular with lenders. In your case it matched. There's also Beacon 9.0 and the new mortgage-enhanced EQ FICO score. Both were introduced this year and you won't likely find it while rate shopping.
Finally, There are a couple of versions of EX FICO out there. You can get your EX FICO only from your lender and from a CU in PA called PSECU. Most lenders will use the version sold by that CU.
