FICO Mortgarge Scores(5,4 & @)

[joeyv1985]

All,

Sorry if this has been discussed, but my FICO Mortgage scores, 709-272, are on average 31 points lower than my Fico 8 score. Is there a reason why there's such a large discrepency? Granted I got my 1st mortgage in may of last year, but I didn 't exprect such wide gap. As always, input is greatly appreciated. 

[SouthJamaica]

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@joeyv1985 wrote:

All,

Sorry if this has been discussed, but my FICO Mortgage scores, 709-272, are on average 31 points lower than my Fico 8 score. Is there a reason why there's such a large discrepency? Granted I got my 1st mortgage in may of last year, but I didn 't exprect such wide gap. As always, input is greatly appreciated. 

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My mortgage scores are historically much lower than my FICO 8's and 9's.

My gut feeling is that they are much more sensitive to newness... new accounts, new inquiries, etc.... which is why it's not easy to improve them quickly.

As to your getting a mortgage, you're perhaps thinking that the 'mortgage' scores are designed for mortgages. But they're not. They're just old FICO Classic scores which, due to some oddball history, have become the be all and end all for scoring mortgage applications.

[joeyv1985]

All,

Sorry I meant my Mortgage scores are 709-727 not 709-272. 

[joeyv1985]

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@SouthJamaica wrote:

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@joeyv1985 wrote:

All,

Sorry if this has been discussed, but my FICO Mortgage scores, 709-272, are on average 31 points lower than my Fico 8 score. Is there a reason why there's such a large discrepency? Granted I got my 1st mortgage in may of last year, but I didn 't exprect such wide gap. As always, input is greatly appreciated. 

---

My mortgage scores are historically much lower than my FICO 8's and 9's.

My gut feeling is that they are much more sensitive to newness... new accounts, new inquiries, etc.... which is why it's not easy to improve them quickly.

As to your getting a mortgage, you're perhaps thinking that the 'mortgage' scores are designed for mortgages. But they're not. They're just old FICO Classic scores which, due to some oddball history, have become the be all and end all for scoring mortgage applications.

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My gut feeling is that they are much more sensitive to newness... new accounts, new inquiries, etc.... which is why it's not easy to improve them quickly.

I had that the feeling that's what it was.

My gut feeling is that they are much more sensitive to newness... new accounts, new inquiries, etc.... which is why it's not easy to improve them quickly.

Hmmmm.

Thanks SouthJamaica. Very interesting on the 2nd part. 

[Anonymous]

I had a bit of a weird one last night. 

F8: 747, 728, 729 (EX, EQ, TU)

I believe they pulled F2 (but maybe another one), and scores on the h-4 notice were:

738, 762, 770. 

So I am the rare exception where my mortgage scores are higher than my F8 (except for with my Experian, which has the lowest age of credit on it and the most inquiries)

[joeyv1985]

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@Anonymous wrote:

I had a bit of a weird one last night. 

F8: 747, 728, 729 (EX, EQ, TU)

I believe they pulled F2 (but maybe another one), and scores on the h-4 notice were:

738, 762, 770. 

So I am the rare exception where my mortgage scores are higher than my F8 (except for with my Experian, which has the lowest age of credit on it and the most inquiries)

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Interesting. May I ask how many mortgages have you had? This was my first one. I closed May 1 of last year. 

[Anonymous]

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@Anonymous wrote:

I had a bit of a weird one last night. 

F8: 747, 728, 729 (EX, EQ, TU)

I believe they pulled F2 (but maybe another one), and scores on the h-4 notice were:

738, 762, 770. 

So I am the rare exception where my mortgage scores are higher than my F8 (except for with my Experian, which has the lowest age of credit on it and the most inquiries)

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@Anonymous If you don't mind could you please describe your profile in as much detail as you would like? I would sure love to analyze the differences that cause that.

[Anonymous]

I’ve got a few suspicions but I would love to have them confirmed

[randomguy1]

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@Anonymous wrote:

I had a bit of a weird one last night. 

F8: 747, 728, 729 (EX, EQ, TU)

I believe they pulled F2 (but maybe another one), and scores on the h-4 notice were:

738, 762, 770. 

So I am the rare exception where my mortgage scores are higher than my F8 (except for with my Experian, which has the lowest age of credit on it and the most inquiries)

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My mortgage scores are much higher than my F8 as well. I'm thinking it's because my credit cards that were older long fell off my report. The ones on my present report all are under 2 years. 

[Anonymous]

Let's also not forget that mortgage scores cap out at numbers less than Fico 8.  For those with top notch Fico 8 scores, their mortgage scores by design must quite a bit lower simply due to different scoring ranges between the models.