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Experian Mortgage Score DROPPED for now reason

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Iusedtolurk
Established Contributor

Re: Experian Mortgage Score DROPPED for now reason

@Anonymous  I have 3 closed accounts

 

CFA

opened 12-18        closed 2-19

               3-19                      9-19

              10-19                     7-20

 

Nothing after 7-2020

Message 21 of 142
Anonymous
Not applicable

Re: Experian Mortgage Score DROPPED for now reason


@Iusedtolurk wrote:

@Anonymous  I have 3 closed accounts

 

CFA

opened 12-18        closed 2-19

               3-19                      9-19

              10-19                     7-20

 

Nothing after 7-2020


@Iusedtolurk so you have CFA s, but why wasn't the negative Reason code for it showing on the 15th? that's what bothers me.

 

Did you previously have the code? I could see if you had 4 codes but when you only had 3 codes, that should've shown up as the 4th, I would think. 

Message 22 of 142
Iusedtolurk
Established Contributor

Re: Experian Mortgage Score DROPPED for now reason


@Anonymous wrote:

@Iusedtolurk wrote:

@Anonymous  I have 3 closed accounts

 

CFA

opened 12-18        closed 2-19

               3-19                      9-19

              10-19                     7-20

 

Nothing after 7-2020


@Iusedtolurk so you have CFA s, but why wasn't the negative Reason code for it showing on the 15th? that's what bothers me.

 

Did you previously have the code? I could see if you had 4 codes but when you only had 3 codes, that should've shown up as the 4th, I would think. 


@AnonymousUpon closer scrutiny I had collection reason codes on the 17th of nov and when they dropped on the 18th of nov (+44 points) I had 3 reason codes all the way up to when Ex included CFA as a 4th reason code.  (-11 points)

 

experian-1-16-drop-compare-collection.JPG

Message 23 of 142
Anonymous
Not applicable

Re: Experian Mortgage Score DROPPED for now reason

@AndySoCal Its said Consumer Finance accounts, but I have none.

Message 24 of 142
Anonymous
Not applicable

Re: Experian Mortgage Score DROPPED for now reason

@Anonymous Nope, no new loans. 


@Anonymous wrote:

@Iusedtolurk wrote:

@Anonymous wrote:

@Iusedtolurk wrote:

@tooleman694 wrote:

I had the same issue, I checked my EX mortgage score this morning and I had an 11 point drop. I can't figure it out either. Meanwhile my EQ and TU are doing fine.

 

Last month my EX dropped 19 points, I figured it was from our morgage INQ that finally became scorable. Then the first of Jan I recovered 6 points. Then bam this morning 11 points gone. It is ticking me off. Good news for me though, my EQ and TU are still high enough to get a mortgage. I just paid off some of my cards to get under 50 percent util, hopefully that will shake up my stupid EX score.


WELL...I was just about to make a post about my Mortgage scores dropping out of the blue when I have not done anything negative.  I was about to make the post in the general section but thought it would go better in the Fico scoring section.

 

Lo and behold I saw this post.

 

Short and sweet.............I was checking my 28 fico scores today due to them updating from last month and expected some point gains.

 

Compared to this time last month major changes were:

12 accounts with balances

10 now

 

38% aggregate util

27% now

 

To my disappointing surprise I saw my EX mortgage score had dropped 11 points (auto 2 and bankcard 2 dropped points also).

 

So I looked at my EX I can track day to day changes and saw the drop occured on Jan 16. On Jan 15 it was +11 points higher.

 

But reports for the 2 days show no changes. They are identical and the rest of the Fico scores are the same for those 2 days.

 

****Also anyone have any insight when the "Length of time.......established" reason code is no longer applicable.

extra-credit-1-16-20-drop-ex.JPGextra-credit-1-16-20-drop.JPG


@Iusedtolurk Do you have the negative Reason Codes for EX2 on the 15th and the 16th?

 

The length of time accounts established has two triggers: average age of accounts and age of oldest account. Likewise, the revolver one uses average and oldest as well. 


@AnonymousJust noticed the reason code difference from the 15th and 16th is the inclusion of the CFA reason code.

experian-1-16-drop-compare.JPG

Concerning the age measure how many years would probably eliminate that reason code?


@Iusedtolurk now we are cooking. Well that code is going to be there as long as the CFA is on the record and you don't have other codes push it down. The good news is it probably has less affect over time since everything else does.

 

There's no way to know but it seems like two years is when they seem to count negatives against you less, but I have no evidence on which to base that for CFAs, I'm just throwing that out there, so don't rely on that.

 

now why is that code showing on the 16th but not the 15th? Did you get a new loan? Because this is reminiscent of a code popping up one day with a score change with nothing changing on the credit report, and then a few days later it reversing. I remember a glitch like that. I think it was @SouthJamaica , but I'm not gonna swear to it. 

if you don't have any new loans, you do have a CFA, it's just now appearing, and before you only had three codes, that would seem to indicate scorecard change. How old is the CFA?


 

Message 25 of 142
Anonymous
Not applicable

Re: Experian Mortgage Score DROPPED for now reason

They are all closed and paid. When I get hone; I'll show you.

Message 26 of 142
Anonymous
Not applicable

Re: Experian Mortgage Score DROPPED for now reason


@Iusedtolurk wrote:

@Anonymous wrote:

@Iusedtolurk wrote:

@Anonymous  I have 3 closed accounts

 

CFA

opened 12-18        closed 2-19

               3-19                      9-19

              10-19                     7-20

 

Nothing after 7-2020


@Iusedtolurk so you have CFA s, but why wasn't the negative Reason code for it showing on the 15th? that's what bothers me.

 

Did you previously have the code? I could see if you had 4 codes but when you only had 3 codes, that should've shown up as the 4th, I would think. 


@AnonymousUpon closer scrutiny I had collection reason codes on the 17th of nov and when they dropped on the 18th of nov (+44 points) I had 3 reason codes all the way up to when Ex included CFA as a 4th reason code.  (-11 points)

 

experian-1-16-drop-compare-collection.JPG


@Iusedtolurk that is some real crazy stuff. Can you tell me did anything else happen on that date when the code dropped? Did any account age off? Anything? 🤔

Message 27 of 142
Anonymous
Not applicable

Re: Experian Mortgage Score DROPPED for now reason

@Anonymous 

 

Hey, please see the attached changes (nothing) but it mentions CFA.  I don't have any CFA Accounts.  

1.15 Experian No Consumer Finance Comment.JPG1.16 Experian Consumer Finance Comment.JPG1.16 Experian Snap Shot.JPG1.15 Experian Snapshot.JPG1.16 Experian Snap Shot.JPG

Message 28 of 142
Iusedtolurk
Established Contributor

Re: Experian Mortgage Score DROPPED for now reason


@Anonymous wrote:

@Iusedtolurk wrote:

@Anonymous wrote:

@Iusedtolurk wrote:

@Anonymous  I have 3 closed accounts

 

CFA

opened 12-18        closed 2-19

               3-19                      9-19

              10-19                     7-20

 

Nothing after 7-2020


@Iusedtolurk so you have CFA s, but why wasn't the negative Reason code for it showing on the 15th? that's what bothers me.

 

Did you previously have the code? I could see if you had 4 codes but when you only had 3 codes, that should've shown up as the 4th, I would think. 


@AnonymousUpon closer scrutiny I had collection reason codes on the 17th of nov and when they dropped on the 18th of nov (+44 points) I had 3 reason codes all the way up to when Ex included CFA as a 4th reason code.  (-11 points)

 

experian-1-16-drop-compare-collection.JPG


@Iusedtolurk that is some real crazy stuff. Can you tell me did anything else happen on that date when the code dropped? Did any account age off? Anything? 🤔


Nothing else happened on that date but the thing about that particular collection is it was shown in EX  "Other Accounts" as "Closed" but it also updated each month when a payment was made (as LATE) because it was not actually "Closed" and probably should have been listed under "Collections".  I just never fooled with it didn't want to make a bigger mess or something with it by disputing it.

 

 

Message 29 of 142
AndySoCal
Valued Contributor

Re: Experian Mortgage Score DROPPED for now reason

@Anonymous 

Where did I say it was because of consumer finance accounts? Consumer finance accounts may cost a point or two not sure but not

FICO Scores XPN v8 802 V2 831 (SDFCU) TUC 803 v8 EFX 807 (10/2023)
Discover 09/90 19,000, JCPenney 10/2008 4,700 US Bank Cash+ 12,000 Citibank Custom Cash 5/2015 11,100 C State Dept. FCU 15,000 06/2023 , 02/2024 Redstone FCU Signature VISA 10,000 Banking: Ally Bank Credit Unions: Lafayette FCU Quorum FCU State Department FCU State Department FCU Pelican State CU Redstone FCU

Message 30 of 142
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