topic Need help finding cause of score discrepancy. in General Credit Topics

Need help finding cause of score discrepancy.

NotRalphKramden — Sun, 23 Aug 2020 14:48:21 GMT

I filed bankruptcy june 2019. I attempted to reaffirm my mortgage as I was able to on my auto loan, but the issuer, Chase, refused. They sold the mortgage to Freddie Mac, but remain the servicer. My issue is that Chase only reports the account to TU, and somewhere in the report is a derogatory that I can't find. EQ and EX both show account IIB. On MyFICO, TU shows 0 months since last late payment. I can't find what MyFICO is seeing. In the 3B report it shows no lates reported and 2 year history shows all "OK" for TU. My scores are:

EQ 673

TU 630

EX 651

I pulled TU from annualcreditreport.com and it says:

Date Opened: 09/28/2017
Responsibility: Joint Account
Account Type: Mortgage Account
Loan Type: CONVENTIONAL
REAL ESTATE
MTG
Balance:
Date Updated: 08/05/2020
Last Payment Made: 08/05/2020
High Balance: $REDACTED
Pay Status: Current Account
Remarks: CHAPTER 7 BANKRUPTCY
Estimated month and year that this item will be removed: 05/2026

If the update is causing something to show on MyFICO why doesn't EQ complain of a 0 month late as it is also updated monthly.

EX hasn't updated since 6/2019.

Thanks for reading if you got this far.

Re: Need help finding cause of score discrepancy.

Anonymous — Mon, 24 Aug 2020 20:40:54 GMT

I’m not sure, but it seems like it’s seeing the bankruptcy remark and treating it as if it were discharged and there’s obviously something going on on the frontend that is showing you results.

You need to get in touch with customer service and have them look into it, but keep in mind, what the frontend shows you is not necessarily indicative of what the algorithm is doing or of the underlying data from which the algorithm makes its calculation.

Never trust frontends, trust ACR.

Re: Need help finding cause of score discrepancy.

NotRalphKramden — Sun, 23 Aug 2020 18:44:27 GMT

@Anonymous wrote:
I’m not sure, but it seems like it’s seeing the bankruptcy remark and treating it as if it were discharged and there’s obviously something going on on the frontend that is showing you those are the results.

You need to get in touch with customer service and have them look into it, but keep in mind, what the frontend shows you is not necessarily indicative of what the algorithm is doing or of the underlying data from which the algorithm makes its calculation.

Never trust frontends, trust ACR.

21 to 43 points is huge. That's too big to let alone. I suppose I'll call Chase and ask what they are reporting and to whom and contact MyFico and ask if they can tell me where in the data their software is seeing this. Thanks for the advice.

Re: Need help finding cause of score discrepancy.

Anonymous — Mon, 24 Aug 2020 01:07:16 GMT

If the data from ACR is correct then you need not bother Chase, unless you can get them to remove the bankruptcy remark, that would be beyond wonderful. But it was not discharged because it was reaffirmed correct?

But either way, there is a problem somewhere between MF and the bureaus or in the bureaus’ dataset(s) (TU, right?)

Re: Need help finding cause of score discrepancy.

NotRalphKramden — Mon, 24 Aug 2020 12:57:07 GMT

@Anonymous wrote:
If the data from ACR is correct then you need not bother Chase, unless you can get them to remove the bankruptcy remark, that would be beyond wonderful. But it was not discharged because it was reaffirmed correct?

But either way, there is a problem somewhere between MF and the bureaus or in the bureaus’ dataset(s) (TU, right?)

It has been discharged. My personal liability has been removed. The mortgage was sold to Freddie Mac. Chase is the servicer.

It has not been reaffirmed. I don't know exactly where I stand. I make the payments to Chase. Chase reports it only to TU.

I can't see where but something they report to TU is interpreted as a late. Frustrating.

Re: Need help finding cause of score discrepancy.

Anonymous — Mon, 24 Aug 2020 20:58:45 GMT

@NotRalphKramden I was looking at the information you listed from ACR again. there is a current status field and a payment status field in the metro2 format used. I only see the current status field’s data listed.

the payment status field shows the worst delinquency ever reported on the account, if any. I don’t know if ACR gives the data from that field or not. When I get to my laptop I can check an old one. But if there is a history of derogatory, that will list the worst ever.

But since you see the score difference, chances are it’s in the dataset at the bureau. I wish you luck and let us know what happens and I imagine you’re gonna be back and forth between transunion and Chase.

Re: Need help finding cause of score discrepancy.

Anonymous — Mon, 24 Aug 2020 20:49:22 GMT

That maybe a field that they don’t display to the consumer. But we know it exists as part of the metro2 format which is how they transmit it from the furnisher to the bureau and how the bureaus dataset retains the information. So you definitely need to find out what is in that field.

Maybe you can do that by talking to somebody at transunion. Also if you go to the Scoring Primer there is a section that talks about these different fields under payment history post 2 I believe I think under ageing and there are links to threads from knowledgeable members who discuss these fields and I compiled it there to make it easy to understand.

I think there are also some links in post 7.

Re: Need help finding cause of score discrepancy.

NotRalphKramden — Wed, 16 Sep 2020 23:49:16 GMT

Called Chase. Spent 45 minutes with a guy in Credit Dept. and he checked data being reported to 3B. He said data sent is correct.

EX and EQ both show pay status of IIB. TU reports pay status of "Account Current". I think this is what is causing the score drop.

I filed a dispute at TU asking for pay status to report account included in bankruptcy. TU pulled the account from my report to investigate and my score jumped 15 points. Now I wait for the results of the investigation.

FICO 8 EQ 671 TU 644 EX 651

Re: Need help finding cause of score discrepancy.

Anonymous — Thu, 17 Sep 2020 00:00:10 GMT

I think you found the problem the data set at TransUnion has it incorrect that’s probably exactly it!

Great job please keep us posted.

Re: Need help finding cause of score discrepancy.

AndySoCal — Thu, 17 Sep 2020 01:14:40 GMT

If the account was removed from the bankruptcy your should see a comment of reaffirmation of debt. Look at your Bk documents to find out what accounts are /were included. Also what chapter bankruptcy was filed?

Re: Need help finding cause of score discrepancy.

NotRalphKramden — Thu, 17 Sep 2020 01:23:48 GMT

@AndySoCal wrote:
If the account was removed from the bankruptcy your should see a comment of reaffirmation of debt. Look at your Bk documents to find out what accounts are /were included. Also what chapter bankruptcy was filed?

BK7 discharged 09/19. scores on EX and EQ show slow steady climb. TU climbs 4 points during month and gives it back when account updates.

The account was not removed from my bankruptcy, it was temporarily removed from my credit report while they investigate. The account was listed as included in bankruptcy in the remarks section, but not in the pay status field as is the case of the other two credit agencies.

Re: Need help finding cause of score discrepancy.

AndySoCal — Fri, 18 Sep 2020 00:57:12 GMT

There is something that I am not understanding. The mortgage was in a chaper 7 bankruptcy and was discharged in the bankruptcy.

In a prior post you stated you are no longer responsible for this debt due the BK. What I do not understand is why you are still making the payments. Secondly why Chase is accepting the payments. What is the date reported for Equifax and Experian trade line ?

Re: Need help finding cause of score discrepancy.

Anonymous — Fri, 18 Sep 2020 01:26:18 GMT

Because he wants to reaffirm

Re: Need help finding cause of score discrepancy.

NotRalphKramden — Fri, 18 Sep 2020 03:01:59 GMT

@AndySoCal wrote:
There is something that I am not understanding. The mortgage was in a chaper 7 bankruptcy and was discharged in the bankruptcy.
In a prior post you stated you are no longer responsible for this debt due the BK. What I do not understand is why you are still making the payments. Secondly why Chase is accepting the payments. What is the date reported for Equifax and Experian trade line ?

I tried to reaffirm with Chase. They declined and sold the mortgage to Freddie Mac. Chase remains the servicer. When I make payments to Chase they are insistant that they are not trying to collect on a debt. Chase reports to the Credit Bureaus, Freddie Mac doesn't. Chase reports that I don't owe Chase anything. Zero Balance and Zero payment. But I get a paper statement from Chase monthly that details payment, balance, etc to collect for Freddie Mac. EQ and TU update monthly. EX reported a CO at bk filing and hasn't updated since. The dispute is over how TU is displaying data supplied by Chase.

Re: Need help finding cause of score discrepancy.

Anonymous — Fri, 18 Sep 2020 03:24:16 GMT

At least you figured out what the issue is, that’s the majority of the battle, hopefully. Good luck please keep us posted.

Re: Need help finding cause of score discrepancy.

AndySoCal — Sat, 19 Sep 2020 03:04:07 GMT

Thank you for your response. Regarding the score differences with each of the credit scores you recieve from the bureau there are up to 4 reason codes. The reason codes are in order of what is either helping your score or hurting you score. Look at those reason codes and see if that helps you find the problem. Some of the difference could be due to the difference in the score models being used. Since notification you are getting from Freddie Mac /Chase has balances etc it like Freddie Mac sounds like Freddie Mac does not know about the BK. I would consult someone in the legal profession that has knowledge in this area. Your problem is complex due to who legally owns the property after the bankruptcy was discharged. Secondly there is all the money you have paid since and or during the BK. Freddie Mac may work with you or they may not. Be careful and get prudent counsel.