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trying to find the score my mortgage officer has

LRP
New Member

trying to find the score my mortgage officer has

I have signed up with several different score watches and such. and I have yet to find one that matches what my mortgage officer tells me my score is.

In my research I have learned that most of these offers are not any where near what the bank is using. I thought when I signed up for this one it said this is the 'TRUE' fico score. but it still doesnt match what he is seeing! Im really fed up even trying. what good are these numbers to us if we dont get the same thing the lenders are getting. according to all of them I have checked. I should be good to go for a  mortgage.. but they say NO! what is the deal with all this!?

Message 1 of 9
8 REPLIES
Valued Contributor

Re: trying to find the score my mortgage officer has

On mortgage loans the lender loan officer pull a three bureau credit report. Which bureau did the score come  did the score come from that loan officer told you about?  Your  FICO credit score from each bureau will be different most likley.

Equifax My FICO score 814 11/29/2016, Discover TU FICO 807 12/29/2016 Citibank Equifax Bankcard FICO score 827 12/27/2016 Average of Accounts 13 years and no Installment accounts, 1 TU inquiry in 2015
Message 2 of 9
Super Contributor

Re: trying to find the score my mortgage officer has

 

The EQ score sold here at MyFICO is the FICO04 version used by most mortgage lenders, so it should match the EQ FICO score from your bank / CU.

March2010 FICO® ~ 695 TU, 653 EQ, 697 EX
Message 3 of 9
LRP
New Member

Re: trying to find the score my mortgage officer has

 The letter I recieved says the source was equifax.

Message 4 of 9
Valued Contributor

Re: trying to find the score my mortgage officer has


pizzadude wrote:

 

The EQ score sold here at MyFICO is the FICO04 version used by most mortgage lenders, so it should match the EQ FICO score from your bank / CU.


Just will address this as it is called EQUIFAX BEACON 5.

 

The only score on MYFICO that should be the same would be the EQUIFAX score from MYFICO given pulled the same time.

 

Since I am a Broker, I can tell you 100% that the Equifax score here should be the same as the one pulled from your Lender. If that is not the case then you need to ask your Lender Directly what scores they are using and provided by who? Then ask them what Version of the scores they are using?

 

If you are referring to the TU score here on MYFICO then you may have some variance in your score as the TU score here at MYFICO is TU98, and majority of Lenders are using TU04 version.

 

While 98% of Lenders are using FICO scores, there are a very limited number using their own scoring system. This would be similar to AMEX who uses their own scoring system.

Good Luck
May all your dreams and wishes become a reality!
Message 5 of 9
Highlighted
Valued Member

Re: trying to find the score my mortgage officer has

Is there a place we can pull our scores with the TU04 version? I'm only 2-3 months away from applying for a mortgage and I'd love to see the score lenders are going to see. 

Current scores EX: 678 (lender pull), MyFICO TU: 696 & EQ: 664
Message 6 of 9
LRP
New Member

Re: trying to find the score my mortgage officer has

I called and asked him what it is he does.. ad he does pull all 3 and they use the middle score.. I didnt ask about the version.. 

so.. another question now. More about updateing . how often does this site update the reported score? Is it automatic when my score changes ? or is it on some other schedule.?

Message 7 of 9
Valued Contributor

Re: trying to find the score my mortgage officer has


Vwaller72 wrote:

Is there a place we can pull our scores with the TU04 version? I'm only 2-3 months away from applying for a mortgage and I'd love to see the score lenders are going to see. 


No place present that I know of besides a Lender.

Good Luck
May all your dreams and wishes become a reality!
Message 8 of 9
Valued Contributor

Re: trying to find the score my mortgage officer has


LRP wrote:

I called and asked him what it is he does.. ad he does pull all 3 and they use the middle score.. I didnt ask about the version.. 

so.. another question now. More about updateing . how often does this site update the reported score? Is it automatic when my score changes ? or is it on some other schedule.?


Your scores are updated as changes happen to your report. With that being said we are all still at the mercy of the Credit Bureaus to enter the proper information. While scorewatch does have a delay sometimes in notifying you about the good or bad change, if you pulled your scores yourself with-out waiting on scorewatch you should be able to see the update.

Now if you have a rapid rescore through your LO or Broker, then they will be the first to see your updated scores.

 

Rapid rescores mean just what it sounds like. Your scores are updated instantly through the Credit Bureaus.

Good Luck
May all your dreams and wishes become a reality!
Message 9 of 9