topic Please share your FICO/FAKO vs Lender Pull Scores in Mortgage Loans

Please share your FICO/FAKO vs Lender Pull Scores

songsofexperience — Tue, 22 Jul 2014 13:28:04 GMT

Obviously there's a lot of talk about the differences in scores and I just read a comment on another thread in which someone said it seemed that most lender pulls for a mortgage are averaging 50 points lower than EQ 08 (!) we get here. I'm hoping that's not the case (and I know my 04 score is 25 points higher than my 08) I thought it would be interesting to get some actual scores and analyze them, especially with the transition from 04 to 08 here - I know it's confused a lot of people.

If you've applied for a mortgage please share your scores for comparison. List your Fico (and Fako if you want) scores and the date or month of pull (as close to the date of lender pull as possible is better) as well as where you got the score. When I have enough data, I'll start posting trends. Feel free to include other info if you want (rapid rescores?). If there are any statisticians out there who want to help let me know!

You can also show if you were pre-approved with those scores, type of loan, etc. AND if you you really want to, once you've gone through everything, come back and report you've closed on a house!

For example, even though I HAVE NOT yet applied, here's what I might post:

Pre-approved 7/22/14 FHA*

Date

My Pulls

Score

7/14

FICO EQ 08 – Scorewatch

642

7/14

EQ 04 – Scorepower from Equifax

661

6/14

EX – My Fico

655

6/14

TU 98 – My Fico

683

7/14

TU 08 – Barclays

637

7/14

TU? – Credit Karma

665

7/14

TU – Capital One CC

665

Date

Lender Pulls

Score

7/14

EX (This is my middle score)

651*

7/14

659*

7/14

643*

* Not real – only for illustrative purposes. This is what I hope would be pulled - preferably higher

Re: Please share your FICO/FAKO vs Lender Pull Scores

DrZoidberg — Tue, 22 Jul 2014 14:59:39 GMT

My wife pulled hers a couple months before we did the home buying and hers were 790, 788, 780.....Her lender provided scores were 810, 788, 815.

Re: Please share your FICO/FAKO vs Lender Pull Scores

Edward0215 — Tue, 22 Jul 2014 18:53:01 GMT

My Fico - 625 Equifax Score watch

Lender pull same day - 598 Equifax

Re: Please share your FICO/FAKO vs Lender Pull Scores

randireese — Wed, 23 Jul 2014 20:26:20 GMT

My FICO from here were as follows on 7/16:

Equifax 633

Experian 653

TransUnion 658

Lender pulls on 7/21 (after paying down a few hundred dollars on credit cards) were:

Equifax 637

Experian 629

TransUnion 668

Re: Please share your FICO/FAKO vs Lender Pull Scores

brightsprite — Thu, 24 Jul 2014 01:15:34 GMT

Lender Pulls: EX: 621, EQ: 644, TU: 609 (lender pull, June 30, 2014)

FICO: EX: 651 (MyFICO), EQ: 644 (EQ FICO), TU: 636 (MyFICO) (July 1, 2014).

Re: Please share your FICO/FAKO vs Lender Pull Scores

Anonymous — Mon, 04 Aug 2014 19:16:41 GMT

Lender pull on 07/23. We were told we needed a minimum of 580 for a FHA loan.

mine - 543

husbnad - 545

My Fico pulled on 07/25

mine - 593

husband - 589

Credit Karma showed both of use with scores 640 & 645.

Re: Please share your FICO/FAKO vs Lender Pull Scores

ezdriver — Mon, 04 Aug 2014 19:18:17 GMT

Sorry...I see no value in that exercise. Anything but lender-pulled credit scores are are joke.

Re: Please share your FICO/FAKO vs Lender Pull Scores

Revelate — Mon, 04 Aug 2014 22:31:57 GMT

@ezdriver wrote:
Sorry...I see no value in that exercise. Anything but lender-pulled credit scores are are joke.

I rather second this: tracking an '08 FICO is worthwhile to keep score on, but if you want to know your mortgage scores, you're sort of stuck submitting an application. FAKO's are all over the map, they simply don't weight things similarly and what's an up or a down in a FAKO may be the exact opposite in FICO's algorithms.

The exception to this is the Equifax Score Power product which is still on a Beacon 5.0 model, and DCU's monthly score which is the same, and PSECU's score it provides to it's members which is EX Risk Model v2 last time it was checked and likely hasn't changed. I'd note the last two options really are suboptimal if you're considering a mortgage within a year, as there's going to be inquiries in the DCU case, and likely in the PSECU one too if you can gain admission to that CU by virtue of living in PA.

Anyway we can post all sorts of scores unfortunately it's akin to using a Oujia board to pull anything meaningful out of the data. Arguably more fact to phrenology, and that's nowhere we want to be to try to make generalizations on.

I will note though that most of the people who find this forum is because they have something ugly on their report (surprise!) and then they establish a clean sheet after finding the forums... it's probably well over 90% when we're looking at the population of users who post on this forum. As a result with FICO 8 scores anecdotally weighting recent information more than older information, people will see non-trivial differences between them, whereas I know from personal experience that my scores were virtually identical when I had a new tax lien added... over the six months that lien was on the report, my FICO 8 scores started diverging upward again, and they bounced further up with the tax lien's removal, whereas my Beacon 5.0 moved 5 points because I still had an older tax lien on it. Sigh.

Re: Please share your FICO/FAKO vs Lender Pull Scores

techiegirl — Tue, 05 Aug 2014 04:54:36 GMT

Without wasting a HP before actually applying, is there another way to get a lender pull FICO?

Re: Please share your FICO/FAKO vs Lender Pull Scores

IamB2 — Tue, 05 Aug 2014 05:02:15 GMT

@techiegirl wrote:
Without wasting a HP before actually applying, is there another way to get a lender pull FICO?

Mortgage lenders are using the FICO 04 model. You can get that exact score from Equifax by purchasing their SocrePower product (last check it was at $19.99) and it would be a softpull you are the one pulling the report therefore no HP). Google it! I am not aware of any other place where you can get the other CRA FICO 04 reports.

Hope that helps.