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Experian Mortgage Score DROPPED for now reason

AndySoCal
Valued Contributor

Re: Experian Mortgage Score DROPPED for now reason

@valeriethorpe81 

 

When did I say that it was due to consumer finance accounts? My memory may be faulty. That would be a minor ding in my opinion well less than 10.

@tooleman694 

Can you provide the same screen shot of 15th when the score was at 701?

FICO 8 EX 794 TU 794 EF 805
Discover IT Opened 9/1990 CL 19,000, JC Penney Opened 10/2008 CL 4700, US Bank Cash Plus Opened 8/2010 CL 12000, Citibank Double Cash Opened 5/2015 CL 11,100, Chase Freedom Flex Opened 09/2020 CL 10,500
Message 31 of 142
Birdman7
Super Contributor

Re: Experian Mortgage Score DROPPED for now reason


@valeriethorpe81 wrote:

@Birdman7 

 

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


@valeriethorpe81 that's pretty wild, are you sure you don't have a CFA? Can you list the loans on your record, open and closed?

 

But, just may be a glitch it wouldn't be the first time

-Our Community’s updated scoring wisdom: Link to Scoring Primer.
-For Negative Reason Codes see: CassieCard’s Score Factors thread.
-ccquest’s workbook to calculate metrics for you: Link to Workbook.

Correct Ag.Util. under 5% all times. (Oldest/avg varies. Estimates above.)
Real world mortgage maxes are: EQ5-818, TU4-839, EX2-844.

RIP:

(Everything said is JMHO and is not endorsed by FICO or MF. I have no affiliation with either, just a grateful member.)
Message 32 of 142
Birdman7
Super Contributor

Re: Experian Mortgage Score DROPPED for now reason


@Iusedtolurk wrote:

@Birdman7 wrote:

@Iusedtolurk wrote:

@Birdman7 wrote:

@Iusedtolurk wrote:

@Birdman7  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. 


@Birdman7Upon 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.

 

 


@Iusedtolurk pretty wild, that may or may not have something to do with it

-Our Community’s updated scoring wisdom: Link to Scoring Primer.
-For Negative Reason Codes see: CassieCard’s Score Factors thread.
-ccquest’s workbook to calculate metrics for you: Link to Workbook.

Correct Ag.Util. under 5% all times. (Oldest/avg varies. Estimates above.)
Real world mortgage maxes are: EQ5-818, TU4-839, EX2-844.

RIP:

(Everything said is JMHO and is not endorsed by FICO or MF. I have no affiliation with either, just a grateful member.)
Message 33 of 142
LaHossBoss
Valued Contributor

Re: Experian Mortgage Score DROPPED for now reason


@AndySoCal wrote:

@valeriethorpe81 

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


CFAs are worth a lot more than 1 or 2 pts, atleast IMO/IME. I had mine age off (10 years post close) a month or so ago and saw around +20 pts give or take on EQ5s depending on scorecard and my SO had his age off (10 years post close) around the same time as mine and saw upwards of +39 pts on EQ5s, depending on which.

 

Took way over a decade to find out who the culprit was!




Starting Score: 2•20 | EQ 550 | TU 498 | EX 505
Current Score: 2•21 | EQ [F8 640] [F9 645] [EQ5 678] [VS3 651] | TU [F8 620] [F9 620] [TU4 683] [VS3 605] | EX [F8 612] [F9 651] [EX2 628] [VS3 589]
Goal Score: 670


Take the myFICO Fitness Challenge

SO Starting Score: 2•20 | EQ 502 | TU 484 | EX 521
SO Current Score: 2•21 | EQ [F8 665] [F9 659] [EQ5 657] [VS3 655] | TU [F8 676] [F9 659] [TU4 644] [VS3 674] [VS4 658] | EX [F8 659] [F9 664] [EX2 640] [VS3 680]
Goal Score: 670 [X] TU


Take the myFICO Fitness Challenge



Message 34 of 142
LaHossBoss
Valued Contributor

Re: Experian Mortgage Score DROPPED for now reason


@Birdman7 wrote:

@Iusedtolurk wrote:

@Birdman7 wrote:

@Iusedtolurk wrote:

@Birdman7 wrote:

@Iusedtolurk wrote:

@Birdman7  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. 


@Birdman7Upon 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.

 

 


@Iusedtolurk pretty wild, that may or may not have something to do with it


Dont forget student loans may be CFAs. Mine and my SO's CFAs were SLs.

 

I wonder if a certain lender has re-coded their product(s) as a CFA? It seems like a lot of people all around the same time had score drops? I wonder if several people got this reason code added? Maybe a glitch?




Starting Score: 2•20 | EQ 550 | TU 498 | EX 505
Current Score: 2•21 | EQ [F8 640] [F9 645] [EQ5 678] [VS3 651] | TU [F8 620] [F9 620] [TU4 683] [VS3 605] | EX [F8 612] [F9 651] [EX2 628] [VS3 589]
Goal Score: 670


Take the myFICO Fitness Challenge

SO Starting Score: 2•20 | EQ 502 | TU 484 | EX 521
SO Current Score: 2•21 | EQ [F8 665] [F9 659] [EQ5 657] [VS3 655] | TU [F8 676] [F9 659] [TU4 644] [VS3 674] [VS4 658] | EX [F8 659] [F9 664] [EX2 640] [VS3 680]
Goal Score: 670 [X] TU


Take the myFICO Fitness Challenge



Message 35 of 142
LaHossBoss
Valued Contributor

Re: Experian Mortgage Score DROPPED for now reason


@Iusedtolurk wrote:

@Birdman7  I have 3 closed accounts

 

CFA

opened 12-18        closed 2-19

               3-19                      9-19

              10-19                     7-20

 

Nothing after 7-2020


You are certain these are CFAs? Not to doubt you at all, they can just be tricky little things since it is behind the scenes. Is it Affirm or something?




Starting Score: 2•20 | EQ 550 | TU 498 | EX 505
Current Score: 2•21 | EQ [F8 640] [F9 645] [EQ5 678] [VS3 651] | TU [F8 620] [F9 620] [TU4 683] [VS3 605] | EX [F8 612] [F9 651] [EX2 628] [VS3 589]
Goal Score: 670


Take the myFICO Fitness Challenge

SO Starting Score: 2•20 | EQ 502 | TU 484 | EX 521
SO Current Score: 2•21 | EQ [F8 665] [F9 659] [EQ5 657] [VS3 655] | TU [F8 676] [F9 659] [TU4 644] [VS3 674] [VS4 658] | EX [F8 659] [F9 664] [EX2 640] [VS3 680]
Goal Score: 670 [X] TU


Take the myFICO Fitness Challenge



Message 36 of 142
Birdman7
Super Contributor

Re: Experian Mortgage Score DROPPED for now reason

Yeah that’s funny I was just about to mention your recent findings.
-Our Community’s updated scoring wisdom: Link to Scoring Primer.
-For Negative Reason Codes see: CassieCard’s Score Factors thread.
-ccquest’s workbook to calculate metrics for you: Link to Workbook.

Correct Ag.Util. under 5% all times. (Oldest/avg varies. Estimates above.)
Real world mortgage maxes are: EQ5-818, TU4-839, EX2-844.

RIP:

(Everything said is JMHO and is not endorsed by FICO or MF. I have no affiliation with either, just a grateful member.)
Message 37 of 142
valeriethorpe81
Valued Member

Re: Experian Mortgage Score DROPPED for now reason

@Birdman7  I'm positive!! I hope calling them will help. Not sure what to do at this point.

Message 38 of 142
valeriethorpe81
Valued Member

Re: Experian Mortgage Score DROPPED for now reason

@Iusedtolurk Those late payments are from 5 years ago (co-signed on a car). Nothing else happened. Its just weird. How can I fix it

if it is a glitch.

Message 39 of 142
valeriethorpe81
Valued Member

Re: Experian Mortgage Score DROPPED for now reason

@Iusedtolurk @LaHossBoss  Those student loans havent changed. I'm telling you; both reports are identical other than this score.

Message 40 of 142
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