New Member
Posts: 9
Registered: ‎11-09-2012
FORGET fico score NOT used by Mtg Lenders

Had to be a trouble maker but here is a fact.


Over the last few years my personal FICO has ranged 763 to almost 800 UNLESS it was run by a bank or other lending instuitution.  When they run it it has been between 650 and 713. 

Recently , ON THE SAME DAY it was run by Merryl Lynch , I ran my credit.


My low 763.  Merryl Lynch exactly 713


Merryl Lynch will base their loan decision... interest rate, fees and approval based upon 713.  They told me that what I run does not count.  They have something "more" accurate???


If the lender can use a different formula to benefit their own institution how is that fair?


OK everyone reading this tell me how many versions of Fico are out there and who is using what version