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Underwriting and Experian Boost

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

Underwriting and Experian Boost

Is anyone in here familiar with Experian Boost?

I got a 13 point increase with it but I’m wondering if underwriters don’t count those accounts. And if they do, are the payments included in DTI since they are utility accounts?
March 2018 - EX: 419 EQ: 456 TU: 423
February 2019 - EX: 537 EQ: 547 TU: 509
March 2019 - EX: 625 EQ: 555 TU: 579
April 2019 - EX: 640 EQ: 637 TU: 642
5 REPLIES 5
Moderator Emeritus

Re: Underwriting and Experian Boost

I don't think they're used unless they can't use a traditional score.

 

Namely if you have a credit file with traditional information on it (they get a score back when they pull a standard tri-merge) they will use that and I don't think Boost really applies to mortgages anyway... that is a new thing which probably isn't useful with old FICO scores which the mortgage space still uses.

 

I don't think they will be used for DTI but I don't know for certain there either.




        
Message 2 of 6
Frequent Contributor

Re: Underwriting and Experian Boost

Does Experian Boost actually "boost" your mortgage scores too?  I thought it was only your Fico8 that got a bump up.

Fico 8 as of 4/16/19:



Message 3 of 6
Regular Contributor

Re: Underwriting and Experian Boost

That’s part of what I’m trying to figure out!
March 2018 - EX: 419 EQ: 456 TU: 423
February 2019 - EX: 537 EQ: 547 TU: 509
March 2019 - EX: 625 EQ: 555 TU: 579
April 2019 - EX: 640 EQ: 637 TU: 642
Message 4 of 6
New Contributor

Re: Underwriting and Experian Boost

I know when I tested it before, DTI was definitely increased and calculated due to the utility and cell phone bills.  I instantly removed it.  It did not cause a score increase nor decrease for me.

FICO8 Scores:
EX: 686 – 4/1/2019
TU: 708 – 4/1/2019
EQ: 712 – 4/1/2019



FICO9 Scores:
EX: 682 – 4/1/2019
TU: 710 – 4/1/2019
EQ: 729 – 4/1/2019


Message 5 of 6
Moderator Emeritus

Re: Underwriting and Experian Boost


@USER1056689 wrote:

I know when I tested it before, DTI was definitely increased and calculated due to the utility and cell phone bills.  I instantly removed it.  It did not cause a score increase nor decrease for me.


Can you define testing it please?  Vis a vis if it wasn't increased for a standard mortgage loan underwrite I'm not sure it is relevant unfortunately.

 

All that stuff is accounted for in the other 57% or whatever typically.




        
Message 6 of 6