Credit report from CreditKarma doesn't match lender report

[Anonymous]

The scores from the two bureaus reported by Credit Karma (TU, Exp) have very strong credit scores.  When my lender pulled them, they're almost 60 points lower.  I'm not talking about a FICO, I'm talking about the numbers from the actual boards themselves. 

Does anyone have any idea of what might be causing this?

[mitchblue]

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@Anonymous wrote:

The scores from the two bureaus reported by Credit Karma (TU, Exp) have very strong credit scores.  When my lender pulled them, they're almost 60 points lower.  I'm not talking about a FICO, I'm talking about the numbers from the actual boards themselves. 

Does anyone have any idea of what might be causing this?

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Your lenders aren't puling your Credit Karma scores.

[Bankrupt2019]

Most Lenders use some variation of  FICO scoring. Not the Vantage score that CK uses. As far as I'm concerned CK is nothing more than a good way to see whats in your reports.

[StartingOver10]

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@Anonymous wrote:

The scores from the two bureaus reported by Credit Karma (TU, Exp) have very strong credit scores.  When my lender pulled them, they're almost 60 points lower.  I'm not talking about a FICO, I'm talking about the numbers from the actual boards themselves. 

Does anyone have any idea of what might be causing this?

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The CRA's produce credit reports.  The scores they produce to sell to consumers may or may not be FICO scores. You have to look at the description of the report score you are buying to see what score they are selling to you.  Many of the scores are simply 'educational scores' that are not used by any lender at all. These 'educational scores' are revenue generators for the CRA (Exquifax, TransUnion or Experian).  As a result, the educational scores have no meaning in the lending world.  

Credit Karma is a Vantage 3.0 score and very few lenders use Vantage scores to determine credit worthiness. 

Most lenders use some version of FICO scores. You would need to know which version the lender uses to determine which score you pull from here applies.  

Continue to read the Understanding FICO Scoring section here and you will learn about scoring because it absolutely is confusing! 

[Anonymous]

The detail of each report is as follows:

EQUIFAX/FICO CLASSIC V5 FACTA

TRANSUNION/FICO CLASSIC (04)

EXPERIENCE/FAIR, ISAAC (VER. 2)

Each has numbers below my score

For isntance EF is

00040 - DEROGATORY PUBLIC REOCRD OR COLLECTION FILED (I paid 3 small $100 ish items this will that are coming off on the 15th by PFD)

00020 - LENGTH OF TIME SINCE DEROGATORY PUBLIC REOCRD OR COLLECTION IS TOO SHORT (I'm guessing this might have to do with paying it and it not being gone yet)

00014 - LENTH OF TIME ACCOUNTS HAVE BEEN ESTABLISHED

00008 - TOO MANY INQUIRIES LAST 12 MONTHS

[Bankrupt2019]

What are the scores that credit Karma gives you and what are the scores that go with those reports you listed?

[iv]

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@Anonymous wrote:

The scores from the two bureaus reported by Credit Karma (TU, Exp) have very strong credit scores.  When my lender pulled them, they're almost 60 points lower.  I'm not talking about a FICO, I'm talking about the numbers from the actual boards themselves. 

Does anyone have any idea of what might be causing this?

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Your lender isn't pulling the VS 3.0 scores that CK does.  Nor does "the numbers from the actual boards themselves" mean anything.

Based on your followup message below, your lender pulled the standard mortgage set of FICO scores - EQ5, TU4, EX2...

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@Anonymous wrote:

The detail of each report is as follows:

EQUIFAX/FICO CLASSIC V5 FACTA

TRANSUNION/FICO CLASSIC (04)

EXPERIENCE/FAIR, ISAAC (VER. 2)

Each has numbers below my score

For isntance EF is

00040 - DEROGATORY PUBLIC REOCRD OR COLLECTION FILED (I paid 3 small $100 ish items this will that are coming off on the 15th by PFD)

00020 - LENGTH OF TIME SINCE DEROGATORY PUBLIC REOCRD OR COLLECTION IS TOO SHORT (I'm guessing this might have to do with paying it and it not being gone yet)

00014 - LENTH OF TIME ACCOUNTS HAVE BEEN ESTABLISHED

00008 - TOO MANY INQUIRIES LAST 12 MONTHS

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 ...you are comparing the VantageScore 3.0 scores from Credit Karma to the FICO scores from a mortgage tri-merge.

Yes, they will be different.  (And your FICO 8 scores also will be different from both.)

[Anonymous]

Ck gives me 733 and 740.  The ones on the lender report are 679, 679, 695.  There's a world of difference in just 679 and 700 from a lending perspective.  I used the CK simulator and it seemed to give me a lot more score if i had more credit lines.  They should be coming online soon.  Also, some collection items will be coming off of my report

Also, thanks IV, that makes a lot more sense. Hopefully the derogatory remarks coming off will fix things.

[NRB525]

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@Anonymous wrote:

Ck gives me 733 and 740.  The ones on the lender report are 679, 679, 695.  There's a world of difference in just 679 and 700 from a lending perspective.  I used the CK simulator and it seemed to give me a lot more score if i had more credit lines.  They should be coming online soon.  Also, some collection items will be coming off of my report

Also, thanks IV, that makes a lot more sense. Hopefully the derogatory remarks coming off will fix things.

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Don't rely on the CK Simulator. CK is a marketing site, their revenue goes up when you click through and app cards they have advertised.

Any "score improvement" they want you to believe in would be geared toward CC scoring, not mortgage scoring.

The mortgage scores are going to have slightly different criteria that are important to maximize those. CK isn't going to help you improve mortgage scores, unless it's as a way to view your credit file and the changes to the file.

[Anonymous]

In my case, CK's joke of a score shows me at 654 TU and 652 EQ. My current FICO8 scores are actually 712/718.   Go figure.