Guess the score increase - Slow reporting account vs. Time Since Negative

[Anonymous]

I ran into a unique(or maybe not so unique) issue on my Transunion 04 mortgage score. I have a slow reporting account that is currently showing that it is 11 months since the last late payment. This account will update on Transunion by Monday to 1 year since late payment. My Time Since negative is shown at 15 months.  I have a relativly dirty scorecard, 120 day lates, chargeoffs with no collections or public records. Profile is fairly thick, 19 years oldest account, 9 years AAoA. 25 total accounts. Current TU04 score is 679. Will there be a score increase with the slow reporting account turning 1 year? FYI Fico 08 Transunion is 731.

[Anonymous]

My guess is no and that there will be a 0 point increase to your Fico score.  You said your file is quite dirty, so even if you have one negative age to 1 year you no doubt have multiple others (you didn't mention their ages) which will likely still hold back your score.

[Anonymous]

All the other negative accounts are at 15 months since last late payment or better. I have a mortgage account that is at 18 months since last late payment and credit card chargeoffs that have been paid and are at 15 months past negative. I have another mortgage account which is at 25 months past the last late. I did get a boost of 9 points of my Fico 2 from 681 to 690 when the mortgage score hit 18 months since negative on August 13th which was unexpected and no other changes in the report were seen except that account changed. No boost in Fico 4. The collections I had were PDF in February.  Its the one slow reporting installment account that it is now August and is showing it was last updated in April on Transunion which would be 11 months on that account, which would be last account to hit the 12 month mark. My Experian report is showing that this slow account is now showing it is updated in June so Transunion should update a couple days after. I have 4 credit cards using AZEO with the utilization at 1% total and 4% on the one card I have. The age of my youngest account is 1 year on Transunion. I've focused on the mortgage scores since most of the time they are the ones being relied on by most lenders. This seems like a unique case since the time since negative on the slow reporting account is lagging behind the time since negative reported by FICO. I can also show my mortgage scores from March 2018 to now below:

March 2018

Fico 2 - 532

Fico 4 - 482

Fico 5 - 489

August 2019

Fico 2 - 690

Fico 4 - 679

Fico 5 - 675

[SouthJamaica]

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@Anonymous wrote:

I ran into a unique(or maybe not so unique) issue on my Transunion 04 mortgage score. I have a slow reporting account that is currently showing that it is 11 months since the last late payment. This account will update on Transunion by Monday to 1 year since late payment. My Time Since negative is shown at 15 months.  I have a relativly dirty scorecard, 120 day lates, chargeoffs with no collections or public records. Profile is fairly thick, 19 years oldest account, 9 years AAoA. 25 total accounts. Current TU04 score is 679. Will there be a score increase with the slow reporting account turning 1 year? FYI Fico 08 Transunion is 731.

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As @Anonymous has said, it would most likely be a non-event.

[Anonymous]

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@Anonymous wrote:

I've focused on the mortgage scores since most of the time they are the ones being relied on by most lenders.

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Nice increases on those mortgage scores, although I don't agree with the above statement.  Outside of home lending, I tend to believe that mortgage scores are used the least, not the most.  Certainly if you're in the hunt for a mortgage those scores are incredibly important, but if not I'd likely focus on the other more popular and widely used scores.

I'd start/continue working on the elimination of negative items from your CR, as that's the only thing outside of the element of time that's really going to have any impact on increasing your scores further.

[Anonymous]

In recent credit card app sprees and commercial and residential mortgages, the version ive been seeing is Fico 2, 4, 5 or, the auto or bankcard version of the 2,4 or 5. I have yet to see my credit score numbers that have been pulled that align with FICO 8 or 9 versions. Would be very nice though if that were the case for me.

[Anonymous]

Both of you are correct. Fico 4 stayed at 679.