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Reason Codes

Established Contributor

Reason Codes

Does anyone know why the reason codes are displayed on a mortgage's or a bank's hard pulled report but are not displayed when we, the consumer, pull the report? For those that are not familiar with "REASON CODES", THIS IS WHAT THEY ARE. The codes are usually a two digit number that give very specific reasons why the score is what it is.
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3 REPLIES
Established Contributor

Re: Reason Codes

Hi CreditB
Pls refer to below previous post with codes - hope this is what you are looking for:
 
 
 
 
 
 
(04/21/08): TU683, EQ670(5/10), EX701(5/4)
(11/24/07): TU681, EQ671, EX684
(07/07/07): TU578, EQ572, EX583
Message 2 of 4
Community Leader
Epic Contributor

Re: Reason Codes

The myFICO reports do not show all the codes.  But more complete consumer credit reports are available,  Order up  your free annual credit report from annualcreditreport.com, and you will get a much more comprhensive credit report.  Of particular interest, it reports each and every credit inquiry, and the code that defines each, in detail.
Message 3 of 4
Community Leader
Epic Contributor

Re: Reason Codes

As an example of what myFico does not provide, but is listed when you get your free EQ report from annualcreditreport.com, is the prefix explaining the specific type of each individual inquiry.   Only hard inquiries are provided by myFico, but the free report give you all inquiries, and their specific type.

There are seven types of inquiries.  He are the exact definitions as provided on the EQ credit report obtained thru annualcreditreport.com:

 

PRM:   Inquiries with this prefix indicate that only your name and address were given to a credit grantor so they can provide you a firm offer of credit or insurance.  (PRM inquiries remain for 12 months)

AM or AR:   Inquiries with these prefixes indicate a periodic review of your credit history by one of your creditors.  (AM and AR inquiries remain for 12 months)

EMPL:  Inquiries with this prefix indicate an employment inquiry.  (EMPL inquiries remain for 24 months)

PR:  Inquiries with this prefix indicate that a creditor reviewed you account as part of a portfolio they are purchasing.  (PR inquiries remain for 12 months)

Equifax or EFX:  Inquiries with this prefix indicate Equifax’s activity in response to your contact with them for a copy of your credit file of a research request.

ND:  Inquiries with this prefix are general inquiries that do not display to credit grantors.  (ND inquiries remain for 24 months)

ND MR:  Inquiries with this prefix indicate the reissue of a mortgage credit report containing information from your Equifax credit file to another company in connection with a mortgage loan.  (ND MR inquiries remain for 24 months)

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