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Experian Mortgage Score DROPPED for now reason

Birdman7
Super Contributor

Re: Experian Mortgage Score DROPPED for now reason


@tooleman694 wrote:

Mortgage EX score up 19 point this morning, only change was one card reporting lower balance bringing my total util from 49 to 48. The weird thing was my EX Fico 8 score didn't change. Seems like a huge jump for just changing a util tier.


@tooleman694 can you give the exact utilization numbers to two decimal points please? Are you doing the math yourself or are you relying on the frontend/CMS?

-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 51 of 142
Birdman7
Super Contributor

Re: Experian Mortgage Score DROPPED for now reason


@tooleman694 wrote:

Also looks like I had an INQ become unscorable too.

WEBBANK/DFS
All Banks - non specific
Inquiry date: Jan 20, 2020
Removal date: Feb 2022
 
So util from 49 to 48 and lost a scorable INQ. 19 points.

@tooleman694 OK so it may be conflated, again what are the exact utilization numbers, please?

-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 52 of 142
tooleman694
Valued Contributor

Re: Experian Mortgage Score DROPPED for now reason

On Jan 20th it was

Credit used 

$7,924
Credit limit
$16,180
 
Jan 21st it was
Credit used 
$7,806
Credit limit
$16,180
 
As of this morning it is 
Credit used 
$7,008
Credit limit
$16,180
 
I saw no change in any of the scores. However I did get alerted by myfico, my TU 8 jumped 6 points and my EQ 8 jumped 3.
 
I am probably going to burn 50 bucks on Feb 1st and pull a 3B to see what it did to my mortgage scores. I really would like to be at 680 before my broker pulls us in March. My last 3B pull for mortgage scores on the 14th I was at.
 
EQ 671 TU 667 EX 638
 
After the ups and downs on my EX, it is currenly sitting at 650. Hopefully I can sqeeze 9 on EQ and 13 on TU.
Message 53 of 142
Seabus
New Member

Re: Experian Mortgage Score DROPPED for now reason

I may have a similar problem.  I have been monitoring my reports almost daily for four months now and in that period have reduced revolving debt from 72% to 45%.  My score has progressively increased every month then bam FICO-2 dropped on Experian 28 points in one day (1/20 - 1/21).  No new accounts, credit inquiries, late payments or debt. FICO-8 stayed the same at 716 but FICO-2 dropped to 641.   The only thing I can think of is that I had a dispute statement removed from my account, but I thought that does not impact my score.  I called Experian and MyFiCO but no one could explain it.  They kept referring to a late payment from a few years ago but that is not new and has not changed on my report.  I am at loss and upset about this. I have been working so hard at this and it has been satisfying seeing the gradual improvements until now.

Message 54 of 142
BrutalBodyShots
Super Contributor

Re: Experian Mortgage Score DROPPED for now reason

You would have to go through your credit report before and after the score change and identify any/all differences.  Score changes come from data changes, so there must be variances between the two reports.

Message 55 of 142
Seabus
New Member

Re: Experian Mortgage Score DROPPED for now reason

Thanks for the reply.  I compared the reports line by line and the only change was that (2) consumer statements were removed.  All other items are exactly the same.  

Message 56 of 142
tooleman694
Valued Contributor

Re: Experian Mortgage Score DROPPED for now reason

EX must have been up to something on the 21st.

Message 57 of 142
Seabus
New Member

Re: Experian Mortgage Score DROPPED for now reason

Unfortunately a glitch may be the case, but Experian or FICO were unable to tell me why this happened.  Also, one slight correction in case anyone is having similar issues.  The drop happened on 1/22.

Message 58 of 142
AndySoCal
Valued Contributor

Re: Experian Mortgage Score DROPPED for now reason

@Seabus   If both accounts were in dispute and the dispute comments were removed that would account for the change in the score. While an account(s) are in dispute they are not fully factored in the FICO score. The reason is simple FICO does not know what is being disputed and what information if any is incorrect. Look at your credit report before the account(s) were disputed and now. This will give you an idea what impact may have had on your score. Keep in mind other things also have changed as well that may be impacting the score.

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 59 of 142
Seabus
New Member

Re: Experian Mortgage Score DROPPED for now reason

@AndySoCal thanks for the response.  The 2 disputes actually closed three months ago.  What changed was that I had the Customer Comment removed that from the disputes that stated "Dispute resolved – consumer disagrees".  I went through the reports for a 3rd time an nothing else changed.

 

Message 60 of 142
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