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Mortgage only reports to EQ

Your FICO® Scores can impact your loan interest rates, terms, approvals and more.
Valued Member

Mortgage only reports to EQ

Wasn't sure exactly where to post this question. My local cu did me a solid by making my mortgage process as easy as anything I've ever done but.....they only report to eq 

 

im not really bothered by it but it would be nice to get the benefit across all 3. Took me a couple years to get from the 500's to 700's. They said it's something they may be doing in the near future. 

 

Anyway....anyone see this as a big deal? 

 

Thanks

Message 1 of 6
5 REPLIES 5
Moderator Emeritus

Re: Mortgage only reports to EQ

Frankly doesn't appear to be any scoring benefit under modern algorithms that you can't sort out with a simple shared secured loan.

 

Ultimately any underwriting benefit will still accrue to you; I wouldn't worry about it much.  What CU out of curiosity?




        
Message 2 of 6
Valued Member

Re: Mortgage only reports to EQ

Can you expand a bit on getting a secured card to sort thigns out?

 

It's NCSECU

 

thanks

Message 3 of 6
Highlighted
Regular Contributor

Re: Mortgage only reports to EQ

There are many posts about SSL.  Here's one.  You can do a search for others as well.  I'm sure someone else will chime in with lots of knowledge about the process.

 

https://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/Adding-an-installment-loan-the-Share-Sec...



FICO 8 as of 06/12/19 :




FICO 9 as of 06/12/19 :


Message 4 of 6
Valued Member

Re: Mortgage only reports to EQ

Thanks Trudy,

 

How does this apply to my question? Just wondering if it's a bog deal that my mortgage lender only reports to eq.......for now?

Message 5 of 6
Regular Contributor

Re: Mortgage only reports to EQ

Sorry drpaul88, missed this.

 

I see reporting a MTG to only one CRA as a problem for the other CRA scores only if you have no other installment accounts. 



FICO 8 as of 06/12/19 :




FICO 9 as of 06/12/19 :


Message 6 of 6