topic Experian Mortgage Score DROPPED for now reason in Understanding FICO® Scoring

Experian Mortgage Score DROPPED for now reason

Anonymous — Sat, 16 Jan 2021 17:37:04 GMT

Hey Fico Family,

This is a two part question and I'm seriously hoping someone can help me. Question (issue)1: On January 15, my Experian Mortgage FICO score was 671 (not the greatest, but a work in progress!). I am under contract for a home; so its important to keep things going UP and moving in a positive direction. This morning I woke up to a 27 point droppage so now my Experian FICO score is 644! I have printed out BOTH reports from yesterday (and the last several weeks it was at the same number) and NOTHING has changed. No increase in utilization; no closed accounts, NOTHING. I saw a drop like this when a collection was added and QUICKLY removed due to an error (last week). Afterwards my score went right back to where it was at originally. Can anyone offer a reason for why this happened. When I say nothing has happend; I mean NOTHING. I fine tooth combed my FICO reports and saw no change at all.

Second Question: One condition for my loan was that my ex-husband trade in the car which I co-signed on 3 years ago. This situation was a mess; I co-signed not knowing I was divorced; he did it in another county. Either way; he traded it in and I am no longer attached to this car. Whenhe first got the car there were 15 late payments on it. I had to take him to court in order to get things back on track. My question is: When this car shows "Paid & Closed" on my file; will it hurt my score? Also, with the late payments go away? Or will they remain.

PLEASE HELP

Re: Experian Mortgage Score DROPPED for now reason

tooleman694 — Sat, 16 Jan 2021 18:59:39 GMT

I had the same issue, I checked my EX mortgage score this morning and I had an 11 point drop. I can't figure it out either. Meanwhile my EQ and TU are doing fine.

Last month my EX dropped 19 points, I figured it was from our morgage INQ that finally became scorable. Then the first of Jan I recovered 6 points. Then bam this morning 11 points gone. It is ticking me off. Good news for me though, my EQ and TU are still high enough to get a mortgage. I just paid off some of my cards to get under 50 percent util, hopefully that will shake up my stupid EX score.

Re: Experian Mortgage Score DROPPED for now reason

AndySoCal — Sat, 16 Jan 2021 21:42:32 GMT

@Anonymous

Regarding Question #1

Can post the Experian score factors/ reasons before the drop and after the drop in the score. It might give an indication on where to look?

Question #2 Regarding the auto loan did the court remove you as a co-signer or not ? If so when was the effective removal date? I presume you have a copy of the court decision it may be useful.

If you were not removed from the account the payment history will remain in my opinion.

Re: Experian Mortgage Score DROPPED for now reason

tooleman694 — Sat, 16 Jan 2021 22:43:52 GMT

For mine, the score factors match for yesterday and today. My Fico 8 score didnt move. Something funny is going on.

Re: Experian Mortgage Score DROPPED for now reason

Anonymous — Sat, 16 Jan 2021 23:41:38 GMT

There were no score factor reasons listed. Or at least I couldnt find them. My report itself didnt change.

As far as the car, their were no courts involved. As mentioned previously; I had no involvement in my divorce bc I didnt know I was divorced until 5 months later. I explained this to the dealer, showed documentation; they still wouldn't remove this from my file. This was a simple trade in, he got a new car, just under his name thats it.

@AndySoCal wrote:
@Anonymous
Regarding Question #1
Can post the Experian score factors/ reasons before the drop and after the drop in the score. It might give an indication on where to look?
Question #2 Regarding the auto loan did the court remove you as a co-signer or not ? If so when was the effective removal date? I presume you have a copy of the court decision it may be useful.

If you were not removed from the account the payment history will remain in my opinion.

Re: Experian Mortgage Score DROPPED for now reason

dunn2500 — Sun, 17 Jan 2021 04:43:54 GMT

seems like alot of peoples score are dropping lately......for little to no reason

is it because of current state of world or is new fico scoring in place, i took a huge hit awhile ago and hasnt recouped like normal.... paying cards low and staying ahead on auto payments .....i would see steady increase every month.... until december and bam, slammed with point loss on refi and no gains every month like i did for last 8 months.......just seems algorithm is not same as it was or not as consistent anyway

Consumer Finance Accounts

Anonymous — Sun, 17 Jan 2021 04:54:00 GMT

So I pulled my reports (daily) bc of I am under contract for a home. On 1.15 and before my mortage scores were in the good range and did not have the CFA reason listed below it (because I dont have any, and the ones I had have been paid off). On 1.16, I pulled my report and I saw that my mortgage score dropped 27 points and the reason was bc of CFA's. How can this be possible? Nothing else changes on my file. No additions, no collections, no inquiries, no additional credit utilization. Could this be some sort of glitch? I'm so confused.

Re: Experian Mortgage Score DROPPED for now reason

Anonymous — Sun, 17 Jan 2021 05:38:24 GMT

@dunn2500 wrote:
seems like alot of peoples score are dropping lately......for little to no reason

It's never for no reason. Fico scores are generated using report data. If the data doesn't change, the score doesn't change. If the score changes, it means the data changed.

9 times out of 10 when someone states that their score dropped for "no reason" after discussing it in a thread for a day or two the reason for the score change is revealed. That reason was of course there all along, it's just sometimes it isn't obvious or is easily overlooked.

Re: Consumer Finance Accounts

dunn2500 — Sun, 17 Jan 2021 05:46:13 GMT

there are some pretty savvy peeps here with credit game and am sure someone will chime in soon......ive just noticed recently alot of score drops and people and they dont know why (incl me).....just seems to me last year i didnt see quite as many threads where peeps were at a loss but maybe am more sensitive to this idk...

Re: Experian Mortgage Score DROPPED for now reason

Iusedtolurk — Sun, 17 Jan 2021 07:16:13 GMT

@tooleman694 wrote:
I had the same issue, I checked my EX mortgage score this morning and I had an 11 point drop. I can't figure it out either. Meanwhile my EQ and TU are doing fine.

Last month my EX dropped 19 points, I figured it was from our morgage INQ that finally became scorable. Then the first of Jan I recovered 6 points. Then bam this morning 11 points gone. It is ticking me off. Good news for me though, my EQ and TU are still high enough to get a mortgage. I just paid off some of my cards to get under 50 percent util, hopefully that will shake up my stupid EX score.

WELL...I was just about to make a post about my Mortgage scores dropping out of the blue when I have not done anything negative. I was about to make the post in the general section but thought it would go better in the Fico scoring section.

Lo and behold I saw this post.

Short and sweet.............I was checking my 28 fico scores today due to them updating from last month and expected some point gains.

Compared to this time last month major changes were:

12 accounts with balances

10 now

38% aggregate util

27% now

To my disappointing surprise I saw my EX mortgage score had dropped 11 points (auto 2 and bankcard 2 dropped points also).

So I looked at my EX I can track day to day changes and saw the drop occured on Jan 16. On Jan 15 it was +11 points higher.

But reports for the 2 days show no changes. They are identical and the rest of the Fico scores are the same for those 2 days.

****Also anyone have any insight when the "Length of time.......established" reason code is no longer applicable.

Re: Experian Mortgage Score DROPPED for now reason

tooleman694 — Sun, 17 Jan 2021 15:44:24 GMT

Yup something weird is going on.

Re: Experian Mortgage Score DROPPED for now reason

Anonymous — Sun, 17 Jan 2021 18:35:56 GMT

I was starting to think this was going to be a universal problem, and had to check!

My EX2 has been stable ever since the final card updated for January: 739 with same reason statements.

Re: Experian Mortgage Score DROPPED for now reason

tooleman694 — Sun, 17 Jan 2021 18:38:00 GMT

Can you check jan 15th.

@Anonymous wrote:
I was starting to think this was going to be a universal problem, and had to check!

My EX2 has been stable ever since the final card updated for January: 739 with same reason statements.

Re: Experian Mortgage Score DROPPED for now reason

Anonymous — Sun, 17 Jan 2021 18:44:59 GMT

@tooleman694 wrote:
Can you check jan 15th.

My EX2 went up +5 points when the last card to close (AMEX) finally updated at Experian on the 14th (to 739, that I posted above, same 739 from 14th through today):

This is what it was on January 12th:

Re: Experian Mortgage Score DROPPED for now reason

tooleman694 — Sun, 17 Jan 2021 18:49:21 GMT

I just looked at my Wifes from Jan 16th, but can't tell much because her last pull was on Dec 16th. But she is up 15 points because of a deleted collection.

Re: Experian Mortgage Score DROPPED for now reason

Anonymous — Sun, 17 Jan 2021 21:32:51 GMT

There have been instances where balance changes or other changes have hit a report, but not been available for viewing on the interface until a day or two later. So it could be pulling the score from an active dataset whereas the one we're viewing in the CMS has not yet been updated. If there's no other answer.

but usually somebody misses something. But then again there was one instance where EX was simply tripping for a little while, so that could be happening again, too.

Re: Experian Mortgage Score DROPPED for now reason

Anonymous — Sun, 17 Jan 2021 21:36:28 GMT

@Iusedtolurk wrote:
@tooleman694 wrote:
I had the same issue, I checked my EX mortgage score this morning and I had an 11 point drop. I can't figure it out either. Meanwhile my EQ and TU are doing fine.

Last month my EX dropped 19 points, I figured it was from our morgage INQ that finally became scorable. Then the first of Jan I recovered 6 points. Then bam this morning 11 points gone. It is ticking me off. Good news for me though, my EQ and TU are still high enough to get a mortgage. I just paid off some of my cards to get under 50 percent util, hopefully that will shake up my stupid EX score.
WELL...I was just about to make a post about my Mortgage scores dropping out of the blue when I have not done anything negative. I was about to make the post in the general section but thought it would go better in the Fico scoring section.

Lo and behold I saw this post.

Short and sweet.............I was checking my 28 fico scores today due to them updating from last month and expected some point gains.

Compared to this time last month major changes were:
12 accounts with balances
10 now

38% aggregate util
27% now

To my disappointing surprise I saw my EX mortgage score had dropped 11 points (auto 2 and bankcard 2 dropped points also).

So I looked at my EX I can track day to day changes and saw the drop occured on Jan 16. On Jan 15 it was +11 points higher.

But reports for the 2 days show no changes. They are identical and the rest of the Fico scores are the same for those 2 days.

****Also anyone have any insight when the "Length of time.......established" reason code is no longer applicable.

@Iusedtolurk Do you have the negative Reason Codes for EX2 on the 15th and the 16th?

The length of time accounts established has two triggers: average age of accounts and age of oldest account. Likewise, the revolver one uses average and oldest as well.

Re: Experian Mortgage Score DROPPED for now reason

tooleman694 — Sun, 17 Jan 2021 21:37:29 GMT

It is just strange that it has happened to a couple of people. And it looks like it was the 16th it happened. I will keep watching mine. I am about to get a total util tier drop any day now. Lets see what that does to my EX mortgage score.

Re: Experian Mortgage Score DROPPED for now reason

Iusedtolurk — Mon, 18 Jan 2021 02:53:32 GMT

@Anonymous wrote:
@Iusedtolurk wrote:
@tooleman694 wrote:
I had the same issue, I checked my EX mortgage score this morning and I had an 11 point drop. I can't figure it out either. Meanwhile my EQ and TU are doing fine.

Last month my EX dropped 19 points, I figured it was from our morgage INQ that finally became scorable. Then the first of Jan I recovered 6 points. Then bam this morning 11 points gone. It is ticking me off. Good news for me though, my EQ and TU are still high enough to get a mortgage. I just paid off some of my cards to get under 50 percent util, hopefully that will shake up my stupid EX score.
WELL...I was just about to make a post about my Mortgage scores dropping out of the blue when I have not done anything negative. I was about to make the post in the general section but thought it would go better in the Fico scoring section.

Lo and behold I saw this post.

Short and sweet.............I was checking my 28 fico scores today due to them updating from last month and expected some point gains.

Compared to this time last month major changes were:
12 accounts with balances
10 now

38% aggregate util
27% now

To my disappointing surprise I saw my EX mortgage score had dropped 11 points (auto 2 and bankcard 2 dropped points also).

So I looked at my EX I can track day to day changes and saw the drop occured on Jan 16. On Jan 15 it was +11 points higher.

But reports for the 2 days show no changes. They are identical and the rest of the Fico scores are the same for those 2 days.

****Also anyone have any insight when the "Length of time.......established" reason code is no longer applicable.
@Iusedtolurk Do you have the negative Reason Codes for EX2 on the 15th and the 16th?

The length of time accounts established has two triggers: average age of accounts and age of oldest account. Likewise, the revolver one uses average and oldest as well.

@AnonymousJust noticed the reason code difference from the 15th and 16th is the inclusion of the CFA reason code.

Concerning the age measure how many years would probably eliminate that reason code?

Re: Experian Mortgage Score DROPPED for now reason

Anonymous — Mon, 18 Jan 2021 04:12:21 GMT

@Iusedtolurk wrote:
@Anonymous wrote:
@Iusedtolurk wrote:
@tooleman694 wrote:
I had the same issue, I checked my EX mortgage score this morning and I had an 11 point drop. I can't figure it out either. Meanwhile my EQ and TU are doing fine.

Last month my EX dropped 19 points, I figured it was from our morgage INQ that finally became scorable. Then the first of Jan I recovered 6 points. Then bam this morning 11 points gone. It is ticking me off. Good news for me though, my EQ and TU are still high enough to get a mortgage. I just paid off some of my cards to get under 50 percent util, hopefully that will shake up my stupid EX score.
WELL...I was just about to make a post about my Mortgage scores dropping out of the blue when I have not done anything negative. I was about to make the post in the general section but thought it would go better in the Fico scoring section.

Lo and behold I saw this post.

Short and sweet.............I was checking my 28 fico scores today due to them updating from last month and expected some point gains.

Compared to this time last month major changes were:
12 accounts with balances
10 now

38% aggregate util
27% now

To my disappointing surprise I saw my EX mortgage score had dropped 11 points (auto 2 and bankcard 2 dropped points also).

So I looked at my EX I can track day to day changes and saw the drop occured on Jan 16. On Jan 15 it was +11 points higher.

But reports for the 2 days show no changes. They are identical and the rest of the Fico scores are the same for those 2 days.

****Also anyone have any insight when the "Length of time.......established" reason code is no longer applicable.
@Iusedtolurk Do you have the negative Reason Codes for EX2 on the 15th and the 16th?

The length of time accounts established has two triggers: average age of accounts and age of oldest account. Likewise, the revolver one uses average and oldest as well.
@AnonymousJust noticed the reason code difference from the 15th and 16th is the inclusion of the CFA reason code.
Concerning the age measure how many years would probably eliminate that reason code?

@Iusedtolurk now we are cooking. Well that code is going to be there as long as the CFA is on the record and you don't have other codes push it down. The good news is it probably has less affect over time since everything else does.

There's no way to know but it seems like two years is when they seem to count negatives against you less, but I have no evidence on which to base that for CFAs, I'm just throwing that out there, so don't rely on that.

now why is that code showing on the 16th but not the 15th? Did you get a new loan? Because this is reminiscent of a code popping up one day with a score change with nothing changing on the credit report, and then a few days later it reversing. I remember a glitch like that. I think it was @SouthJamaica , but I'm not gonna swear to it.

if you don't have any new loans, you do have a CFA, it's just now appearing, and before you only had three codes, that would seem to indicate scorecard change. How old is the CFA?