@Anonymous wrote:Can someone please help me understand how I managed to get ALL 15 late payments removed from an account that I co-signed on with my ex-husband with (which is awesome) and my FICO 8 score DROPPED. My mortgage score improved my 30 points; but the Equifax score dropped 15 points, Transunion dropped 3 points and I don't know about Experian yet. This was the last derogatory thing to remove on my file. EVERYTHING else is perfect. This is insane.
@Anonymous Are you derogatory and delinquency free? If yes, perhaps, it is a scorecard reassignment as noted by your increase in mortgage scores. Your FICO 8s will recover in time.
I would recommend reading the below from Birdman7
General Scoring Primer and Version 8 Master Thread, pub.5.17.20
@Anonymous wrote:Can someone please help me understand how I managed to get ALL 15 late payments removed from an account that I co-signed on with my ex-husband with (which is awesome) and my FICO 8 score DROPPED. My mortgage score improved my 30 points; but the Equifax score dropped 15 points, Transunion dropped 3 points and I don't know about Experian yet. This was the last derogatory thing to remove on my file. EVERYTHING else is perfect. This is insane.
I'm not surprised to see your mortgage score improve, but I am surprised to see your FICO 8's drop, even if there has been scorecard reassignment. I have a hunch there's something other than that which caused the point drop.
@SouthJamaica wrote:
@Anonymous wrote:Can someone please help me understand how I managed to get ALL 15 late payments removed from an account that I co-signed on with my ex-husband with (which is awesome) and my FICO 8 score DROPPED. My mortgage score improved my 30 points; but the Equifax score dropped 15 points, Transunion dropped 3 points and I don't know about Experian yet. This was the last derogatory thing to remove on my file. EVERYTHING else is perfect. This is insane.
I'm not surprised to see your mortgage score improve, but I am surprised to see your FICO 8's drop, even if there has been scorecard reassignment. I have a hunch there's something other than that which caused the point drop.
Depends on the strength of the file otherwise.
Limited / thin file history, and a rebucketing can cause a drop in score. It's actually not that uncommon because the score ranges overlap and we've seen a bunch of posts on this forum of examples over the years, but end of the day getting to a clean file / scorecard is ALWAYS beneficial because you don't get artificially flatlined by reaching age-related caps inside the lower tier scorecard.
Congrats Valerie on getting the tradeline removed! May not seem like it now but it's 100% awesome credit wise in the future.
@Anonymous wrote:@SouthJamaica Nothing else changed other than the late removals. Thats it. I monitor my credit a lot bc I am under contract for a house. Nothing about this makes sense
@Anonymous Seeing that the EX2, TU4, EQ5 scores are more important to you at this point, I would say, congratulations on your success! Hopefully, that pushes you to another tier that may be beneficial?