@WoodlandFlora wrote:
I am beyond baffled at the discrepancy between my 08 scores and the 9. My scores are 744, 768, 785 with the thr 08 model and the 9 model ranges from 714, 724, and 726.
I have exceptional payment history on the 08 side, zero negatives, never late. The FICO 9 says one thing hurting my score is a serious delinquency. To say I am shocked is an understatement. I've never had a charge off, no collections, absolutely no late payments.
How do I address this? My 3B scores for the 8 are pretty awesome, and you would think they wouldn't be that high with a serious delinquency. Every single account shows paid and zero lates.
Help! How do I fix this?
The Loan Modification might be it? That's kinda a brand spanking new thing in terms of popularity after the mortgage crisis I think so if it's reflected negatively (which it likely is from a lender's perpspective and there may be statistical data to back that up) it might be included.
Honestly we don't know FICO 9 well, only way to get it is with an instant in time pull and the data around it is very very rare at this point.
http://www.experian.com/blogs/ask-experian/2012/02/15/impact-of-loan-modification-on-scores/
That was the quick Google result that I could find but it's not very descriptive but from your description I don't know what else it might be. On the plus side hardly anyone is using FICO 9 and probably won't be for a while (year or more). Was the LMN tag once or continuously reported on the tradeline when you look at the actual tradeline history?
@WoodlandFlora wrote:
It showed up twice, February and March.
As I understand it Escrow Adjustment is a normal process that occurs annually since taxes / insurance change; I'd talk to BOFA and ask what's up with the reporting status as if LMN stands for loan modication, that's something else entirely.
If there's no other issues on your report, which seems likely based on your FICO 8 scores (or it's something really really old that's still on there, worth double-checking, again probably) then this would be the obvious conclusion.
The only other thing I could suggest, do you have any recent inquiries on your files? I have a big disparity between my EQ FICO 9 and EX (65 points similar to yours), but when I pulled it I had an inquiry that was a week old whereas the ones on EQ were >6 months at that point. FICO 8 doesn't have that differentiation I know, and it's not conclusive on FICO 9 but it was the only thing I could theorize after scrutenizing my reports and scores as the tradelines are line item identical between the two reports other than the usual EX/EQ differences of a month's reporting.
@WoodlandFlora wrote:
I actually called MyFICO about this and they can't see anything and are as baffled as me. The rep and two supervisors confirmed that there is absolutely nothing that is a delinquency. They have zero idea as to why it says that and it could have populated as default, but no solid reasons as to why. They all agreed my report was clean.
The only report that had LMN was TU. They always seem wonky to me. I don't know why it would be a modification either and was shocked it was labeled as such as we have a yearly escrow analysis.
Well that begs the question, was the notification that there was a derogatory on your report just on TU or was it listed in the factors for all 3? What was the rest of the list in order?
Yeah I don't know about it's being default though I can't confirm that as I actually do have a derogatory (or 2) on my reports. Wierd, but perhaps proscecuting it with MF is the way to go if it's a bug in the software implementation (which of course do exist); did your case get forwarded anywhere?