Posts: 8,896
Registered: ‎12-30-2011
Re: Auto loan advice from an Underwriter
[ Edited ]

With your experience (if you can describe it in general terms), can you talk a little about the auto-enhanced score?  The "first-time-buyer" penalty is well known both here on this fourm and elsewhere: anecdotally we know that someone with just credit cards is going to be slapped with this on their auto-enhanced score; however, as you suggest with a Prosper loan (personal loan, installment tradeline) being helpful as we've thought in the past, would you rate the other two installment loan types (auto ones being obviously counted) for their relative weight in the auto-enhanced score?


- Mortgage loan

- Student loan



Starting Score: EQ 561, TU 567, EX 599* (12/30/11, EX lender pull 12/29/11)
Current Score: EQ 04 679, EQ 8 708, TU 711, EX 702* (07/14/14, EX older)
Goal Score: 700 on EQ '04 (01/01/15)

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