@Anonymous wrote:I've been a real estate agent selling homes for the last 17 years, and have referred more loans to mortgage lenders then I can count. With that said, I never knew the differences in types of FICO scoring and have received a rude awakening now applying for my own home purchase. My issue is that I've been tracking my FICO 8 scores through Experian daily, leading up to my mortgage application and my scores all looked more then adequate to qualify for best rate on my selected loan program. I ratified a contract for my house of choice, and had my mortgage lender pull my credit only to be SHOCKED that two of my mortgage scores (FICO 5,FICO 4) were more then 50 points lower then my FICO 8 score,s and even more confusing, my FICO 2 score is almost 90 points higher then my other two mortgage scores. I've signed up with MYFICO 3 bureau monitoring to see all scores and have reviewed the reports for all three bureaus and found little to no difference amongst the reporting. My credit utilization is at 32% across the board, and I've had no negative reporting in the past 6 years. The only thing I am seeing that I believe is affecting my score are several mortgage lates back in 2012-2013 that happened during the aftermath of the market collapse when I was going through a mortgage modification on my home which was severely underwater. 3 of the reportings are over 7 years old and I am wondering if their is anyway for me to have these removed to improve my mortgage scores. My lender is saying that I can't have a dispute on my report while going to through underwriting, so I don't know what I can do. I need to get my mortgage middle score to at least 700 if not higher to get the rates originally quoted when I thought my scores were much higher. Please advise on ANY remedies that could help me, even paying off all of my cards in full if you think that could do the trick. I'm desperate and looking for any suggestions!!!!!!
FICO 8 Scores
EX: 755
EQ: 761
TU: 745
FICO 2 (EX): 778
FICO 5 (EQ): 690
FICO 4 (TU): 693
Undoubtedly your biggest problem is the mortgage lates, which should be removed since they are 7 years old, so you should definitely dispute those.
You will pick up some points by ensuring that all but one of your revolving accounts report zero balances, with that one reporting a small balance before you pay it off. Make sure the card reporting a small balance is not a Chase card, because those will immediately report a zero balance too once you pay them off.
Since those lates are too old to be reporting, here's what you should do to get them rectified quickly:
Call EX and tell them you have an item that's too old to be on your reports. I always ask for a supervisor, but that may not be necessary in this case. Actually, go ahead and ask for a supervisor. EX will open a dispute and remove the items from your report. This is just how they do things and the disputes go away within 1 to 2 days.
Next, call TU and ask to speak with a supervisor. Again, tell them you have lates reporting that are too old to be on your account and you would like them removed. TU is always the fastest and will usually update your report in a couple of hours.
I would highly suggest not disputing these online as that can take up to 30 days. Your best bet is to call each of the bureaus and speak with a supervisor. I honestly don't know about EQ as they are completely incompetent and can't even remove an account from my report no matter how many freaking times the lender requests it, but that's a story for another time. You can try calling EQ and probably should just to see if you can make some progress there.
Best of luck and I can't promise you this will work, but I'm about 98% sure you'll be successful if you follow the steps above. It's worked for me every single time and I was requesting things to be removed EARLY from my reports. So this should be a cake walk for you.
