I need a quick bump - Mortgage scores are so much ... - myFICO® Forums

Anonymous · ‎04-13-2017

Hello all:

Applying for a jumbo loan in California, and I'm still amazed at the difference between the consumer numbers and the numbers our lender gave us (which are lower still than the Fico 2 that MyFico shows).

My Experian is 704, Equifax 680, Transunion 689. I need that middle score (TransUnion) bumped - ideally to 700+.

Any ideas? FWIW, my Fico Score 8 numbers are Esperian 742, Equifax 757, TransUnion 750. I have no credit card debt, $25k in student loans, and a $20k car loan that I've never missed a payment on.

3 90-day lates in 2014 on a student loan that are reporting 3 times each because the loan is a consolidation - one payment. I changed banks and moved and the loans came out of forebearance. I've been carrying that shame around my neck for 3 years now.

ALL ideas would be so helpful.

Thank you!
Kristen

Anonymous · ‎04-13-2017

If you can get those delinquencies removed, assuming they are your only baddies you stand to see a 40-60 point gain most likely. I'd target them hardcore and see what you can do to get them off of your report.

Anonymous · ‎04-13-2017

Awesome. What would you do to get them off? How do you even do that? Every time I call a creditor to ask them to remove something, they say, "We are legally bound to report correctly and cannot remove correct information from your account."

Anonymous · ‎04-13-2017

What is your util like? Do you currently have any installment loans reporting open?

Anonymous · ‎04-13-2017

I'm using 0% of my revolving credit limits ($40,000 in available credit), and I have 2 open loans reporting - a $20,000 car loan ($329 month payment) and a $25,000 student loan consolidation ($210 month payment).

HeavenOhio · ‎04-14-2017

Charge something small, and allow the balance to report. FICO penalizes you if all revolving balances are zero. Given that the need for a score bump seems to be urgent, do this on the card that'll be reporting the soonest.

Pay in full every month, and repeat the process with a new charge.

Anonymous · ‎04-14-2017

@kris10house wrote:
Awesome. What would you do to get them off? How do you even do that? Every time I call a creditor to ask them to remove something, they say, "We are legally bound to report correctly and cannot remove correct information from your account."

Calls from what I've seen are the least effective way of getting them off. You also have no written record of your conversation so even if they were to agree to something, if they didn't do it you would have no recourse. Your next best method would be email or fax, as it is a written record of correspondence, but I suggest good old fashioned snail mail letters as they have the most "personal touch" which can make a difference to the person reading it.

If you are committed to investing some time in writing/sending out goodwill letters, I strongly suggest using the Saturation Technique which you can read about in this thread:

http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/The-Saturation-Technique-Best-GW-adjustment-o...

Using that method I've removed over 20 late payments from my credit reports. It does take time and persistence, but nothing comes easy in life.

SouthJamaica · ‎04-14-2017

@kris10house wrote:
Awesome. What would you do to get them off? How do you even do that? Every time I call a creditor to ask them to remove something, they say, "We are legally bound to report correctly and cannot remove correct information from your account."

You should be filing disputes with the credit bureaus, not the creditors.