This is a monthly question ( for 20 years ☺) but once you calm down and think about it, it makes sense.
The question is like asking WHY does the seafood pizza taste different than the regular pizza...duh, different ingredients in the 'recipe'? Same thing
The 'generic' FICO is , well generic or regular ....
When the Mortgage 'recipe' is ordered it calls for different ingredients...thus it can't help but to be a different flavor, then the regular, just like pizza.
FICO has several different recipes available, for specific industries the ENHANCE the RISK factor for specific lending.
Example
You can run credit at a furniture store and get XYZ score and immediately go across the street and run an app at a car lot and because of the industry the auto lender orders a Auto Enhanced FICO 'recipe' vs the generic recipe just run across the street....and of course the score is different because the RECIPE calls for different things to be weighted ( or Enhanced) in the different manner than normal.
A veggie pizza would enhance the veggies and leave out the meat
A Bank card FICO enhances the use of 'bank cards' (credit cards) vs the Auto score enhances past auto loans.....
This sometimes actually helps, the consumer...
Example some ppl are a bit sloppy on keeping up the CC payment and/or keeping the balances down BUT don't miss a beat with regard to paying that car note.
In that case their Auto Enhanced Score might give them a bounce that the generic score doesn't.
We see ppl this 'so/so' credit it cars all the time...cause LeeRoy will make a truck payment but if the CU runs a bank card enhanced HP he doesn't look as hot.
When you think about it, they have different 'names' so WHY wouldn't folks think the scores would vary?
Much like IF it say Pineapple Pizza vs Mushroom Pizza...one has to expect 'something' is different between the two, right?....
And yes these 'recipes' are different from another variation cause by which version is being used as in FICO 08 vs FICO 10...this one is easier for folks to understand because it's like saying iPhone 6 vs iPhone 8, so ppl follow that 'logic' a bit quicker.
But you could have a
Mortgage FICO 04 via Equifax
then immediately have another vendor run
Auto FICO 08 via Equifax
then have BoA run a Visa app as
Bank card FICO 09 via Equifax
All on the same day, same data, same CRA and because of a) the model and b) the recipe (Enhancement) the numbers spit out will vary EASILY by 20-60 points or more.
Ok once you think that myFico offers a product that gives a bunch of different scores, obviously there's a reason 😉
Don't be overwhelmed, just understand there is a WHY the mortgage wants an ENHANCED scoring 'recipe' vs a CC issuer looking to slap out a Visa...they are about to lend 100's if thousands or millions, so Yeah the grading is on a CURVE 😎
I hope I helped...might not 'like' it but IMO it's best to know how the grades are gonna be calculated, so you're not shocked come report card time😱
