Paid off Morgage...Experian Down 1 PT, Equifax down 21? What gives?

[Anonymous]

Paid off Morgage 400K ...Experian Down 1 PT, Equifax down 21? What gives?  Why the dramatic difference.  They both have all of the same accounts reported in the credit report.  No late Pay's ever.

[StartingOver10]

Which FICO score is showing the reduction? FICO 08 or the mortgage scores?

[Barry]

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@Anonymous wrote:

Paid off Morgage 400K ...Experian Down 1 PT, Equifax down 21? What gives?  Why the dramatic difference.  They both have all of the same accounts reported in the credit report.  No late Pay's ever.

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Did your reason codes change at all? If you had no other open installment loans, i.e. auto, student, prior to paying off the mortgage, the fact that you now have no open ILs at all may be the reason for the drop. This falls under that last of the 5 scoring categories, Types of Credit, that makes up 10% of your score. If you do have other open ILs, well, you got me.

[Anonymous]

I have 2 other installment loans, both car loans....one is 100 per month, and the other is 600 per month, thanks for the reply just seemed odd to me as well.

[Barry]

How about those reason codes? Any changes?

[Anonymous]

reason codes?

does this help?

Account Information

Description Fannie Mae account Closed or paid account / zero balance Fixed rate

• Balance
• $399,108 $0

• Past due
• Not Reported

• Status
• Pays account as agreed

• Last activity
• 02/01/2015 01/01/2015

• Description
• Fannie Mae account Real estate mortgage Fixed rate Fannie Mae account Closed or paid account / zero balance Fixed rate

[Barry]

Sorry.   Should have said the 'negative factors'.