Pre-approval process and problem with Kroll Factual Data report - please help!

[Anonymous]

I am trying to buy my first home and get pre-approved.  My 3 credit scores from each individual credit bureau are Experian 718, Transunion 688, and Equifax of 626.  These are all directly from the credit bureaus, not a third party website that "monitors" all 3 of your scores.  

My problem is the mortgage broker I contacted pulled a report called a Kroll Factual Data report.  It is only showing my Transunion score of 688.  The other 2 scores are listed as N/A or not available.  Can anybody explain to me why this report is only showing 1 of 3 scores.  Clearly, I have 3 scores.  

I don't have much of a credit history, but what I do have is excellent.  I have 2 credit cards, each with 300.00 limits, one with a 0 balance and one with a 65.00 balance.  I have an auto loan (which by the way only reports to Transunion and not the other 2 credit bureaus).  I have nothing else on  my credit report, NOTHING!  

Any information on what to do about this would be greatly appreciated.  I have found my dream home and because of this Kroll Factual Data report only showing 1 of 3 credit scores, I cannot qualify for my FHA loan.  This broker wants 2 scores.  

[llecs]

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@Anonymous wrote:

I am trying to buy my first home and get pre-approved.  My 3 credit scores from each individual credit bureau are Experian 718, Transunion 688, and Equifax of 626.  These are all directly from the credit bureaus, not a third party website that "monitors" all 3 of your scores.  

My problem is the mortgage broker I contacted pulled a report called a Kroll Factual Data report.  It is only showing my Transunion score of 688.  The other 2 scores are listed as N/A or not available.  Can anybody explain to me why this report is only showing 1 of 3 scores.  Clearly, I have 3 scores.  

I don't have much of a credit history, but what I do have is excellent.  I have 2 credit cards, each with 300.00 limits, one with a 0 balance and one with a 65.00 balance.  I have an auto loan (which by the way only reports to Transunion and not the other 2 credit bureaus).  I have nothing else on  my credit report, NOTHING!  

Any information on what to do about this would be greatly appreciated.  I have found my dream home and because of this Kroll Factual Data report only showing 1 of 3 credit scores, I cannot qualify for my FHA loan.  This broker wants 2 scores.  

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Welcome to the forums!

Unfortunately when you pull your scores directly from the 3 CRAs, the scores they are offering are not FICO scores and lenders don't use them. Your FICO can easily be much higher or much lower than the scores they offer. Experian and TransUnion don't offer FICO scores anywhere on there site. It is possible to get a FICO score through Equifax, but the score they promote isn't a FICO.

You can only buy your EQ FICO from  myFICO.com, your lender, or from www.equifax.com/myfico-products.

You can only buy your TU FICO from myFICO.com or from your lender.

Finally, as of a few years ago, Experian blocked consumer access to your own EX FICO but your lender can still get it for you.

There are some banks and CUs out there that can also provide your FICO to you as part of a benefit or service.

To obtain a FICO, look at the tri-merge report your lender provided for you. FICO has minimum scoring requirements and make sure that all of these apply to you:

• At least one account that has been open for six months or more
• At least one undisputed account that has been reported to the credit bureau with in the past six months
• No indication of deceased on the credit report (Please note: if you share an account with another person this may affect you if the other account holder is reported deceased).

So, for the two CCs you have, make sure at least one shows an open date of 11/2011 or prior, and make sure it isn't listed as disputed. If lacking the requirement, then consider being added as an authorized user to a spouse's CC or family member's CC, provided that it is older than 6 months, clear of lates, low balance, etc.

[rckstrscott]

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@Anonymous wrote:

I am trying to buy my first home and get pre-approved.  My 3 credit scores from each individual credit bureau are Experian 718, Transunion 688, and Equifax of 626.  These are all directly from the credit bureaus, not a third party website that "monitors" all 3 of your scores.  

My problem is the mortgage broker I contacted pulled a report called a Kroll Factual Data report.  It is only showing my Transunion score of 688.  The other 2 scores are listed as N/A or not available.  Can anybody explain to me why this report is only showing 1 of 3 scores.  Clearly, I have 3 scores.  

I don't have much of a credit history, but what I do have is excellent.  I have 2 credit cards, each with 300.00 limits, one with a 0 balance and one with a 65.00 balance.  I have an auto loan (which by the way only reports to Transunion and not the other 2 credit bureaus).  I have nothing else on  my credit report, NOTHING!  

Any information on what to do about this would be greatly appreciated.  I have found my dream home and because of this Kroll Factual Data report only showing 1 of 3 credit scores, I cannot qualify for my FHA loan.  This broker wants 2 scores.  

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The Kroll Factual Data report ARE your 3 bureau scores; that is a lender pull and the real deal. All three of THOSE scores are FICO, if it isn't showing any on those other two, well, then you don't have a score yet on the other two.

The above post mentioned it all pretty clearly. Where did you get your scores from? If they are from the buraeus, as mentioned above, they do no sell FICO scores, which is what the lender pulls with the Kroll Factual report. 

-scott

[Anonymous]

I check my credit at least twice a week.  I've had identy theft     I recently went to purchase my first home and was told I had bills still unpaid.  This bank used Kroll Factual Data.  Their information is NOT correct and cost me the purchase of my house.  I have all the correct scores.  Kroll Factual Data is almost 100 points off.  Is that NOT illegal?

[Anonymous]

Well, my lender used Kroll and the Equifax number matched what i pulled from this site for both my wife and I.  If the information on the Kroll report is inaccurate, it's because you have inaccurate information still being reported to the credit bureaus.  That is your issue - not Kroll.

[Anonymous]

That is NOT correct.  I pull my Equifax, Transunion and Experian numerous times a month.  I've talked to all three credit bureaus.  Kroll only updates every 90 -180 days.  They actually pull unauthorized inquires from your credit report.  It shows up as Factual Data.  I contacted Kroll today and spoke with a representative.  She personally told me they pull when they are asked... they update only if you ask for a RE-SCORE and that cost money.  It is completely illegal for a third party (unofficial) credit bureau to keep inaccurate information on someone.  I am getting a lawyer.  I have the conversation record.  I know what I was told.  I had things completely removed from my credit report.  Kroll still has them.  I told them their information was NOT correct.  She told me to dispute it with the three major credit bureaus.  However, they have the most updated data.  Their information is correct.

[Anonymous]

Actually, it IS correct.

First, you CAN'T pull your experian scores "several times a month."  Because experian doesn't sell the scores to consumers.  If you "talk to all three bureau's", then you'd already know that. Any scores you are "pulling" are FAKO scores and they're meaningless. 

Second - they "pull unauthorized inquiries" from your credit report?  Huh? Factual data shows up as an inquiry when a lender uses their service to view your credit.  There's nothing unauthorized or illegal about it.

Third - yes, they pull information when they are asked.  But the information they pull is based on what your credit reports at the three bureaus are reporting at the time Kroll pulls your information.  They simply report the information Transuion, experian, and equifax are showing at the time the report is requested.  They don't "Keep" information - you have a fundamental misunderstanding about how their service works. They're not a credit bureau, they're an information service. And the idea that they only "update" every 90-180 days is complete nonsense.  They pulled reports for two different lenders three different times over the course of three different months - and the credit card balances we paid down were updated each time.  If they were pulling only once every 3 to 6 months...that wouldn't happen.  Ridiculous.

Fourth - disputing charges on your credit report does not get them removed, even if you paid them.  you needed to get an agreement from the collection agency to pay for delete.  If you didn't do that, then these items have not been removed. 

Get a lawyer if it makes you feel better.  It's not going to help, and you'll just waste your money.