Frequent Contributor
Sommery
Posts: 265
Registered: ‎07-24-2009
Re: When to try to apply for a mortgage

They don't want any disputes because an account that is in dispute is not used for your credit score calculation (from what I've heard.) The reason that the way your score is determined is because it's a proprietary formula. Basically, FICO came up with a formula for determining people's "credit score". They make their money off it. If they told everyone how they determine the score, why would the banks pay FICO to use the formula? That's my understanding, anyways.