@Anonymous wrote:
I am in the process of rebuilding my credit and currently have approximate score of 640 a cross all 3 bureaus. However, the scores generally used for obtaining a mortgage have not moved. Equ and TU show a medical collection that should be removed in 30-60. I am just curious why I haven't seen a corresponding 80 pt increase as with FICO 8. Any help or advice will be greatly appreciated.
Have you obtained a new report?
MyFICO updates FICO8 constantly, but doesn't update the other scores unless you pull a report.
@Anonymous wrote:
Yes, report on 7/14 reflected about 10 pt increase across the Mortgage related scores. As opposed to 80 with FICO 8.
Bummer.
My mortgage related scores seem to be (a) lower and (b) less volatile than FICO 8, but not to the tune of 70 points.
@Anonymous wrote:
Interestingly, I just read an explanation that states the old models value collections the same regardless of amount. Whereas FICO 8 only shows a negative impact when the collection is over $100.00. The collection in question medical for $60.00. That very well maybe the culprit. Apparently I should've done more research.
Maybe you should be sending in a verification letter, to see if you can get rid of it.
@Appleman wrote:Just to clarify, you pulled a brand new 3B report that cost you additional money? For the longest time I would see my FICO 08 score change when I received an alert. I would then look at the other versions and saw no movement. Finally somone clued me in to the fact unless you generate a new 3B report the only score that changes is the 08.
Yes OP indicated that he pulled a report on 7/14