Ive never seen that much of a drop from HP's ever. Maybe 30 or so points for the first motgage loan closed with no other loans reporting. Then the refi loan reporting also wouldnt do that severe of a drop. Combined. Its kinda baffling.
@Anonymous wrote:I was not expecting to see a 67 point drop on my fico 8 experian score today when the only change was applying for refi on existing mortgage. Is this temporary? Normal? I was expecting a 5-10 point drop, not 67.
No it's not normal. If you're getting your FICO 8 score from an experian.com monitoring service I suggest you pull up the credit report from the day of the change and the credit report from the day before, and closely compare.
You might also want to compare the negative reason codes from the 2 days.
@Anonymous wrote:The original hasn't even closed yet. This is only from the applications to pick someone to do the refi. Now I am worried they are going to drop even more when that happens. I have combed through every line, there is nothing else unless the algorithm did not like 2 of my 3 credit cards reporting $0 vs a small percentage. But they usually do report that way, minus July where a billing error occurred right at statement cut.
If you didn't have any bank card reporting a balance, you might have received the all zero penalty.
@SouthJamaica wrote:
@Anonymous wrote:The original hasn't even closed yet. This is only from the applications to pick someone to do the refi. Now I am worried they are going to drop even more when that happens. I have combed through every line, there is nothing else unless the algorithm did not like 2 of my 3 credit cards reporting $0 vs a small percentage. But they usually do report that way, minus July where a billing error occurred right at statement cut.
If you didn't have any bank card reporting a balance, you might have received the all zero penalty.
@SouthJamaicaEven with 0 penalty, no loans reporting, HP's, and ect. That looks more like a CA or some other baddie hit. We've been here a while. Never seen such a thing ever.
@FireMedic1 wrote:
@SouthJamaica wrote:
@Anonymous wrote:The original hasn't even closed yet. This is only from the applications to pick someone to do the refi. Now I am worried they are going to drop even more when that happens. I have combed through every line, there is nothing else unless the algorithm did not like 2 of my 3 credit cards reporting $0 vs a small percentage. But they usually do report that way, minus July where a billing error occurred right at statement cut.
If you didn't have any bank card reporting a balance, you might have received the all zero penalty.
@SouthJamaicaEven with 0 penalty, no loans reporting, HP's, and ect. That looks more like a CA or some other baddie hit. We've been here a while. Never seen such a thing ever.
Agreed but thought that might be contributing to the loss.