Fico is the score that counts

[dvranicar]

I have been waiting to submit my application because I needed a 680 middle score. I checked the reports today and the had EXP 694 TU 668 and EXP 665. 

One of the lenders jumped the gun and ran my credit. He called to say my middle was 682. Paid the $$ to get Fico 3 score    EXP 697 TU 679 and EXP 682.

I suspect they will go higher as the balances continue to report.

Interesting differences

[guiness56]

Welcome to the forums.

You are showing 2 EXP scores so the one that is 682 is actually your EQ score.  Only reason I know that is the EQ score from here is the exact same one your lender will pull.  The other 2 from here will vary as they are not the same versions as a lender uses.

[dvranicar]

Thanks for the info. My concern is that if they need a "middle" score you need to have accurate of all three...Otherwise you cannot be sure before pulling your report. I am "thankful" the guy jumped the gun because I only have a 35 days to close

[guiness56]

Well, only the lender can tell you what the exact EX and TU scores are because as the consumer we don't have access to those 2.

Knowing that your EQ 682 is your middle score, you know one will be higher and one the same or lower than 682.

[TheConductor]

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@guiness56 wrote:

Well, only the lender can tell you what the exact EX and TU scores are because as the consumer we don't have access to those 2.

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Yep, this is the sad but inevitable truth.  Even though it's better than a FAKO, the generic FICO score you can get as a consumer is rarely exactly the same as the one your lender will pull.

There are actually multiple scoring models and multiple versions of each of those models.

The New York Times and CreditSesame did this infographic last year that really sums up how complex and huge the world of "FICO" really is:

http://graphics8.nytimes.com/images/2012/08/24/your-money/bucks-pic-scores/bucks-pic-scores-jumbo-v2...

[guiness56]

Also this thread is useful:  http://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/The-many-flavors-of-FICO-Editions-version...

[masscredit]

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@guiness56 wrote:

Welcome to the forums.

You are showing 2 EXP scores so the one that is 682 is actually your EQ score.  Only reason I know that is the EQ score from here is the exact same one your lender will pull.  The other 2 from here will vary as they are not the same versions as a lender uses.

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I've found that the score that DCU provides me with every month is exactly the same as the score that I receive here.  It's been a long time since I've pulled my TU from here and haven't done the EX. I might do that one just to see what it says.

So of the 3 that we get here, the EQ is the only score that is the same that lenders will see? 

[SuperKirby]

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@masscredit wrote:

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@guiness56 wrote:

Welcome to the forums.

You are showing 2 EXP scores so the one that is 682 is actually your EQ score.  Only reason I know that is the EQ score from here is the exact same one your lender will pull.  The other 2 from here will vary as they are not the same versions as a lender uses.

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I've found that the score that DCU provides me with every month is exactly the same as the score that I receive here.  It's been a long time since I've pulled my TU from here and haven't done the EX. I might do that one just to see what it says.

So of the 3 that we get here, the EQ is the only score that is the same that lenders will see? 

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Yes. the EQ version we have here on myFICO is the Beacon 5.0 EQ (AKA the EQ 2004-2005 version). A lot of lenders use the EQ Beacon 5.0.

DCU also uses the EQ Beacon 5.0 so it should ALWAYS match exactly like the EQ here on myFICO.

The TU we get here is the super old TU 98 (AKA 1998 version). I don't remember the last time a lender pull this.

The EX we get here is the EX Fair Isaac Risk Model 08 (AKA the new 2008 version). This is darn new so a lot of lenders don't pull this as well.

In a nut shell, most lenders still use the 2004-2005 versions of all 3 credit bureaus. But YMMV as we never know what they will pull! Your mortgage guy should know though...

[masscredit]

That info is VERY informative, thank you!

Do you know which version of the TU score is provided by Walmart? I might change which score that I monitor here so I can watch the version from each bureau that is most likely to be viewed by lenders.

Thanks again!

[thom02099]

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@masscredit wrote:
That info is VERY informative, thank you!

Do you know which version of the TU score is provided by Walmart? I might change which score that I monitor here so I can watch the version from each bureau that is most likely to be viewed by lenders.

Thanks again!

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IIRC, WalMart provides the TU08 model; the TU04 model is the one that many lenders use, the 08 model not as popular yet.  Both beat the H E double hockey sticks out of the 98 model here!