Valued Contributor
Posts: 1,671
Registered: ‎05-24-2007
Re: Lenders see different scores than consumers do
[ Edited ]

pinkbetty wrote:

Correction, this was Relscredit, and it was with Wells Fargo. After a little bit of research, it appears that Wells Fargo uses their own credit scoring system and not FICO. Seems like a scam to pull lower scores and charge people more money. Please correct me if I'm wrong on this.



Relscredit is just a  service that pulls the info from the CRAS and puts  together the trimerge report for them, they do not do any calculating or scoring of any kind.

Wells Fargo uses the same standard FICO scores the rest of the mortgage industry does....looking at the trimerge pulled on me in April, EFX Beacon 5.0,  Experian FICO-II, and TransUnion Fico Classic 04  (the mortgage guy I spoke to on the phone was kind enough to send it to me by mail afterwards).

Those are the 3 FICO 04 scores used on a normal mortgage.


- Equifax Beacon 5.0 although sometimes Equifax is abbreviated EQ and sometimes EFX. This is the score you get here.


- Transunion FICO Classic 04. This is one major version later than the TU FICO Classic 98 you get here.


- Experian Fair Issac II, sometime called FICO-II or FICO-2. This was the version you could get here before Experian made it unavailable.



If Relscredit just prepared a tri-merge report as indicated by pinkbetty, then the difference is score has to be that they just told you your MIDDLE score. That would mean your EQ FICO would have been 636 but the other two must have negatives because they would both need to be quite a bit lower. One of them is 590 and the other has to be your lowest. You need to see the actual report.


This is getting pretty confusing with people bringing up an old post and then adding questions at the end that don't relate to the original post.