HELOC Reporting for FICO

[Jazzzy]

Just FYI....

Pulled my husband's EQ report directly in May '09 (free annual report). It showed our HELOC as a Mortgage.

Pulled his EQ report this past weekend through ScoreWatch, and the HELOC is listed as Installment Loan.

I wonder why EQ made the change. It's the same loan. Nothing changed in the financing. Neither type of reporting hurts us...at least it's not reported as Revolving.

I know that HELOC reporting can be dependent upon amount, and ours is $150K+.

Another puzzle in trying to understand why the CRAs do what they do.

[MarineVietVet]

Another puzzle in trying to understand why the CRAs do what they do.

If anyone figures that out let me know!!!!   

[llecs]

In FICO's eyes, a mortgage is an installment loan. Looks like it is reporting OK.

[Jazzzy]

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@llecs wrote:
In FICO's eyes, a mortgage is an installment loan. Looks like it is reporting OK.

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I understand that it's reporting OK. No problem.

Because EQ does divide balances into different categories (Mortgage, Installment, Revolving), I just thought it was interesting that in a 4-mo timespan they changed the category.

[Anonymous]

You did pull the information from two different sources. Shouldn't matter but it might.