topic Re: Tri Merge Report in Mortgage Loans

Tri Merge Report

sharpie — Wed, 28 Oct 2020 13:44:06 GMT

Good morning,

I am days away from applying for a mortgage and want to verify that the mortgage scores shown on here are accurate and are what is shown on a Tri-Merge report. I'm getting USDA direct (which unfortunately as of last week now hangs in the balance due to election, Congress, etc. and you can't even get a COE for about 45 days) and he told me what they pull and I THINK it's the same, but the only info I find in the forums is from 2015 so I am hoping for updated information. I don't want to get a hard pull until I'm ready to get one, but because I am quite close I also want to know exactly what I'm dealing with here.

Thanks in advance for any info.

Re: Tri Merge Report

JVille — Wed, 28 Oct 2020 14:30:22 GMT

Simple answer is yes... the 3 Bureau Fico report is exactly what Used to be called a TriMerge report. Fico 2,4, & 5 are the Mortgage scores used "near" Universally by all mortgage lenders. Good Luck!

Re: Tri Merge Report

sharpie — Wed, 28 Oct 2020 14:43:24 GMT

Thanks. That's what I was thinking but wanted to verify.

Re: Tri Merge Report ( another question)

sharpie — Wed, 28 Oct 2020 15:46:38 GMT

Although all 3 of my scores are now high enough to qualify and be a streamlined process, I have another question. 2 highest scores are identical to each other, 3rd score is 12 points lower. Would they then just use the top score because of this? Or do some math thing where they average them all? Just curious in case I mess something up and a score drops for some unforseen reason. Thanks again.

Re: Tri Merge Report ( another question)

JVille — Wed, 28 Oct 2020 17:19:57 GMT

The Middle Score is always used and if there are two borrowers the Lowest Middle Score is used. In my person case, my husbands middle score is significantly higher than mine so my score is always the one used.

Re: Tri Merge Report ( another question)

sharpie — Wed, 28 Oct 2020 20:30:38 GMT

It is only me, no other party. My scores are 669 669 and 656. No real "middle" one. What do they use?

Re: Tri Merge Report ( another question)

DebtStinks — Wed, 28 Oct 2020 20:44:05 GMT

They'll use the 669. They don't average your scores. It doesn't matter if they're all the same or all different. They throw out the lowest and highest of the 3 scores.

Make sense?

Re: Tri Merge Report ( another question)

sharpie — Wed, 28 Oct 2020 20:52:18 GMT

Thanks, and Yes, totally! It was what I assumed, but wanted clarification and forgot to ask the guy at USDA. But he did assure me everything looked good and I told him every single bad thing I could come up with. So, yeah. And although I am not preapproved and won't be for at minimum a month, I get to look at the house tomorrow. If it's not moldy I'm putting in an offer. (My whole reason to move right now is mold.)