Myfico score

[Anonymous]

I just wanted to say that prior to purchasing myfico, I was a little hesitant because I didn't want to spend too much money on something that may not be accurate. After reading several peoples messages, I went ahead and did it, hoping for the best. My scores, of course, were different than the ones from Truecredit. Myfico scores were actually higher. I was sooo glad to see that I had scores high enough to qualify for a home loan; my middle score was showing 620. I had 2 loan officers pull up my credit scores and my middle score was 605. Although it was still above 600, it wasn't close to 620 which would've put me in a different interest rate. So, to say the least, it wasn't worth it for me.

[Anonymous]

I still don't understand this either.  You're the 2nd or 3rd person that this has happened to when applying for a mortgage.  The FICO you pulled said one thing and what you were quoted by a loan officer said another.  Had anything changed on your report from the time you pulled it and when the loan officer pulled it?  Did they tell you it was your true FICO score?  This really concerns me as I will be applying for a mortgage in a few months.  I don't want to face the same situation - thinking my score is one thing but then finding out that it is another.

[Tuscani]

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HouseHunter wrote:

I still don't understand this either.  You're the 2nd or 3rd person that this has happened to when applying for a mortgage.  The FICO you pulled said one thing and what you were quoted by a loan officer said another.  Had anything changed on your report from the time you pulled it and when the loan officer pulled it?  Did they tell you it was your true FICO score?  This really concerns me as I will be applying for a mortgage in a few months.  I don't want to face the same situation - thinking my score is one thing but then finding out that it is another.

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I woudn't expect an exact match unless you pull your scores at the exact same time.

[Anonymous]

It's been mentioned elsewhere that there are special FICO scores available to lenders for mortgages, auto loans, credit cards, etc. Mortgage lenders may pull a customized FICO score referred to as an "enhanced mortgage" score. Perhaps that could explain why the score they cite is different than the consumer FICO score you see.

[Anonymous]

Strange. I was recently approved for a mortgage. I checked by Fico scores and the middle score was 635, my lender pulled by reports and got the same middle score. However, we pulled the reports within days of each other.

CCM

[Anonymous]

I had broker pull my report back in March my scores were all the same. Now on the report it shows..

EFX BEACON 5.0

XPN FICO II

TUC FICO Classic 98

My guess these are the scoring models they use.

[Tuscani]

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Revike wrote:
It's been mentioned elsewhere that there are special FICO scores available to lenders for mortgages, auto loans, credit cards, etc. Mortgage lenders may pull a customized FICO score referred to as an "enhanced mortgage" score. Perhaps that could explain why the score they cite is different than the consumer FICO score you see.

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Correct. But I wouldn't suspect them to be too far off of what you see on myfico.com. They are not for me at least.

[Anonymous]

Perhaps you could ask the lenders what scoring models they use, I am curious because the reason I ordered this service was because I am preparing to get a home, I don't want to be confident thinking my middle score is a 700 and then they pull and its a 650.

[Tuscani]

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Diamond wrote:

Perhaps you could ask the lenders what scoring models they use, I am curious because the reason I ordered this service was because I am preparing to get a home, I don't want to be confident thinking my middle score is a 700 and then they pull and its a 650.

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There is no mortgage enhanced score like there is for auto and credit cards. With that said, there are several reasons why the scores might be different. I will leave it at that. 

[Anonymous]

Tuscani wrote:

I woudn't expect an exact match unless you pull your scores at the exact same time.

Thanks for the idea.  I think that's exactly what I will try to do when I go apply for a mortgage because this does concern me a bit.  If only one person had complained about it, I wouldn't think twice but because a handful of people here have complained about it, it makes me wonder.