Mortgage Score

[sethgrimmy523]

I have been working my scores for months trying too get my mortgage scores too go up, my Fico 8 scores continue too go up but not my mortgage. Experian is the only one that stays consistent with Fico 8, the other two are almost 90 points away.

[Anonymous]

Bear in mind that the myFICO Ultimate product only updates your mortgage scores every 90 days.

[sethgrimmy523]

I know that I update monthly, Transunion and equifax are 90 points off.

[Anonymous]

---

@sethgrimmy523 wrote:
I know that I update monthly, Transunion and equifax are 90 points off.

---

Your mortgage scores update monthly?  That's a surprise to me.  Are you using the myFICO Ultimate 3B cridit monitoring product?

If so, it only updates every 90 days.

If you are using something else, what are you using?

[Anonymous]

I suggest you pull recent copies of your reports and give us a complete list of all the derogs in each one.

If you have any collections for < $99, that would explain the problem in part.  FICO 8 ignores all collections at < $99, whether they are paid or unpaid.  The mortgage models count all collections against you, whether they are paid or unpaid.

FICO 8 will also be more generous with a person who has Day 30 lates, as long as he has had no derogs of any kind for the last 25 months.  The mortgage models are more likely to punish you for a six year old lates (say) even though you have been a good scout for the last several years.

Regarding CC balances, the mortgage models also punish you if they see that most of your open accounts have a positive balance (even if that balance is small).  In contrast, the mortgage models like it a lot when you have several open credit cards, with all of them (except one) showing a zero balance (and the remaining card showing a small positive balance).

[sethgrimmy523]

Will paying them off help, or see if they PFD.

[DollyLama]

Removals, Pay for deletes, or if they age off. Being paid in full/settled will still hold your scores down. Really down.

[Anonymous]

---

@sethgrimmy523 wrote:
Will paying them off help, or see if they PFD.

---

You might have missed this part of my response:

If you have any collections for < $99, that would explain the problem in part.  FICO 8 ignores all collections at < $99, whether they are paid or unpaid.  The mortgage models count all collections against you, whether they are paid or unpaid.

So paying off collections < $99 will not help your FICO 8 scores.  Neither will having them deleted altogether.  That's because FICO 8 ignores all collections at < $99, whether they are paid or unpaid. 

Since the mortgage models count all collections against you, whether they are paid or unpaid , paying them off won't help much, though I imagine it might help a little.   A pay for delete approach would in that sense be better.  Same for FICO 8 if the collection amounts are $100 or more.

[Davis9508]

---

@Anonymous wrote:

---

@sethgrimmy523 wrote:
I know that I update monthly, Transunion and equifax are 90 points off.

---

Your mortgage scores update monthly?  That's a surprise to me.  Are you using the myFICO Ultimate 3B cridit monitoring product?

If so, it only updates every 90 days.

If you are using something else, what are you using?

---

I recently upgraded to Ultimate 3B+  It updates monthly

[sethgrimmy523]

Every time I try too upgrade it credits me back my money immediately and doesn’t upgrade me.