@damnedanddetermined wrote:Can anyone tell me why my Fico 8 scores have all gone up this month (about 19-23pts each) but my mortgag scores have stayed the same...all but one and it dropped 7 pts. I just dont get it!
I thought I was finally able to apply for a mortgage, got all of my scores up from the 500s.....they are now at 629-630-651 but theres no way if my mortgage scores are 565-609-631
Why are they not moving?
Any insight is appreciated....thanks!
Lates and other derogatories, and installment utilization are the two big differences between FICO 8 and FICO 04, also FICO 8 calculates more on open tradelines whereas 04/98 is pure mix of credit AFAIK. (FICO 98 does have the installment utilization issue).
If you have somewhat recent issues which it sounds like from your current scores, I saw a big change even between new and six months on FICO 8 with a tax lien, whereas FICO 04 (EQ Beacon 5.0) didn't move upward much at all.
