How many points is an open mortgage worth?

[jamie123]

I'm an in a unique situation right now. My 2.5 year mortgage is listed as open and in good standing on EQ and TU as it should. It is listed on EX as closed and transferred with 2 years good history. My open mortgage does not appear anywhere on EX. (Long story!)

Besides the mortgage my reports are exactly the same and look like this:

• Oldest account 7 yrs 2 mos
• AAoA = 4 yrs 8 mos
• Youngest account 2 years 5 months
• Auto Loan 60 months with 36 months paid/24 remaining
• 10 open credit cards with 7% UTI
• 6 of 10 cards reporting
• 2 closed SSLs
• 1 closed CC

My scores listed below are:

• EQ 817
• TU 815
• EX 798

So at least in my case, by having an open mortgage I gain 17 to 19 points.

[Anonymous]

Over time I have seen five mortgages roll in and out of the credit bureaus and I have lost about 20+ points and they come back with a new mortgage.

[jamie123]

My original lender sold my mortgage to another lender before my mortgage was 1 month old. I only made 1 payment to my original lender and then my mortgage account was closed and transferred. The kicker is that both my old and new lenders are using the same mortgage servicing company. EX closed the account and listed it as transferred but never started reporting the mortgage with the new lender. I have made several calls to EX to try and straighten out the situation without getting the results that I wanted. I finally filed a dispute and EX gave me credit for 2 years of on time payments  with the old lender but still shows the account as closed and transferred!

I'm going to let it ride like this for a few months and hopefully EX will correct the situation.

[Anonymous]

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@jamie123 wrote:

I'm going to let it ride like this for a few months and hopefully EX will correct the situation.

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I wouldn't count on it if they haven't gotten the info from the servicer in 2 years they probably won't start getting it.  There's an issue between the servicer and EX that isn't linking your info to the CRA.  There has to be a push from the Lender/Servicer to the CRA to make it into your file.

Disputing it didn't fix it whch was going to be one of my suggestions but, you already went there and got credit for 2 years of payments but the underlying issue is still there.  Mortgages can be a PITA when it comes to reporting for some reason but, once they get it working it's usually not a hassle anymore.

[jamie123]

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@Anonymous wrote:

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@jamie123 wrote:

I'm going to let it ride like this for a few months and hopefully EX will correct the situation.

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I wouldn't count on it if they haven't gotten the info from the servicer in 2 years they probably won't start getting it.  There's an issue between the servicer and EX that isn't linking your info to the CRA.  There has to be a push from the Lender/Servicer to the CRA to make it into your file.

Disputing it didn't fix it whch was going to be one of my suggestions but, you already went there and got credit for 2 years of payments but the underlying issue is still there.  Mortgages can be a PITA when it comes to reporting for some reason but, once they get it working it's usually not a hassle anymore.

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The problem seems to be with EX. I called the mortgage servicing company twice and both times they assured me that they are reporting to all 3 bureaus. The mortgage payments do show up in EQ and TU like clockwork. For some reason EX is having a hard time finding my new mortgage account.

[Anonymous]

It could be a split file issue where the new account info is reporting to another file under your info but, isn't showing on the primary file.  

I'm almost tempted to say EX needs to delete the TL completely and then wait for it to refresh off the file submitted from the servicer then.  Dealing with the CRA sometimes turns into a loop between them, you, and creditor.  It might take some snail mail that's certified and trackable to get it resolved.  

[Anonymous]

Plus one to possible split file

[SouthJamaica]

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@jamie123 wrote:

I'm an in a unique situation right now. My 2.5 year mortgage is listed as open and in good standing on EQ and TU as it should. It is listed on EX as closed and transferred with 2 years good history. My open mortgage does not appear anywhere on EX. (Long story!)

Besides the mortgage my reports are exactly the same and look like this:

• Oldest account 7 yrs 2 mos
• AAoA = 4 yrs 8 mos
• Youngest account 2 years 5 months
• Auto Loan 60 months with 36 months paid/24 remaining
• 10 open credit cards with 7% UTI
• 6 of 10 cards reporting
• 2 closed SSLs
• 1 closed CC

My scores listed below are:

• EQ 817
• TU 815
• EX 798

So at least in my case, by having an open mortgage I gain 17 to 19 points.

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Perhaps that is true, but you can't draw that conclusion. It's like comparing apples and oranges. EX's algorithm is not identical to those of EQ and TU. The only way to know how many points it means in EX FICO 8 is to compare your EX FICO 8 the day before it finally does report, and the day of the report, and hope there are no other changes occurring that day.

[Anonymous]

+1 what SJ said.