Why did Experian Fico 2 drop 8 points when fico 8 went up 10?

[Anonymous]

Myfico said 5 days ago that it was 677. I was stoked . Only 3 points to a 680, where I needed my midpoint to be. Awesome! Experian fico 8 went up 10 points. Oh boy! I eagerly check my Experian fico 2 on experian.Com since it's only $15. And it's 669?! I thought experian fico 2 was emphatically ONE score? Did I get rebucketed on the mortgage score? Omg I can't believe it went down. I am so ready to pull the trigger and get a house.

[Anonymous]

Ugh and I just checked my Transunion with a 1B and even though my Fico 8 went up 50 points when my last collection fell off, my mortgage score only went up 8 points. Still, it's 684 now. As long as Equifax goes up a few points when the last collection falls off it, I'll be ready for pulling the trigger!

[Sbrooks1]

My last collection just fell off and gained 32 on8 and 7 on fico 2! You are so close!! I'm still at MMS 665 so need that 20 points before I pull trigger. Was hoping for 70+ but will take 680!!

[ArmyWifeMBA]

Isn't the mortgage score more heavingly weighted on installment loans?  If this is the case, an outdated collection is no longer affecting the credit score as it would when it first reports.  This could explain why your mortgage scores are barely increasing.

This is what is happening to me.  Fingers crossed you get those extra mortgage points you need.

[Revelate]

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@ArmyWifeMBA wrote:

Isn't the mortgage score more heavingly weighted on installment loans?  If this is the case, an outdated collection is no longer affecting the credit score as it would when it first reports.  This could explain why your mortgage scores are barely increasing.

This is what is happening to me.  Fingers crossed you get those extra mortgage points you need.

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Mortgage industry option maybe regarding heavier weighting towards installment tradelines, but to my knowledge not a single lender in the known universe underwrites on those (or at least in the US).

The ones used by Fannie/Freddie and therefore 99.99% of the rest of the industry are base FICO algorithms.  Collections and the like severely depress your score as long as they're on there, which anecdotally is even more true on the older algorithms which are still used in the mortgage space than the FICO 8 scores we're more familiar with from credit cards and the like.  

CK what does the rest of your file look like?  I'm guessing from your comment re: TU 8 bump that was your last negative?  

Edit: as an aside, if you're a subscriber here at MF, a 1B report costs something like 13 bucks, cheaper than the Experian side for Risk Model v2 checking for mortgage purposes.