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Mortgage score variation between EX and TU

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dragontears
Senior Contributor

Re: Mortgage score variation between EX and TU


@Anonymous wrote:

@dragontears wrote:

@Anonymous wrote:

@dragontears wrote:

@Anonymous 

Newest account was the HELOC 

oldest closed revolver was open 10/13

Oldest open revolver was opened 4/14

Oldest account (closed student loan) was opened 10/97


@dragontears Another thing I forgot to mention is the high utilization on the HELOC. You said that was the newest account, what was your score at TU4 before that? TU4 apparently does factor HELOCs, from the recent Q&A with the experts, so that's not helping either.

 

what was the youngest revolver at that time? 


can I also get the negative reason codes for Equifax at that time and can you tell me what the difference between the files are? I think you said Equifax had an older revolver? Which would account for more points due to a higher age of oldest revolving account and AAoRA. (you did say EX had the same files, but it's a different version (98/04).)


@Anonymous 

I have no idea what my TU 4 was before I opened the HELOC in 2019. I only was tracking these scores because of the frequently asked question "how will a new mortgage affect my scores?" and I wanted to get a data point since I was getting a mortgage anyway. 

My youngest revolver was a closed AU account, I will have to check the date but it was from fall of 2018. 

EQ has a old sears card that was opened in 2000 on it (still there even though it was closed in 2008 but I am not complaining lol).


@dragontears if the youngest revolver was that old don't worry about it, we don't need to know the date.

 

so that's the only difference between EQ and TU?


It appears that the closed AU card was no longer on EQ as well. There might be some slight balance difference that I noted in my first post but I didn't check EQ vs TU due to the old card 

Message 21 of 38
Anonymous
Not applicable

Re: Mortgage score variation between EX and TU

@dragontears The comparison between Equifax and Trans Union would've been the closest since their both based on a 2004 model. Examining the differences in current negative reason codes, it's obvious that the oldest revolving account is making a difference between the two.

 

it's a little bit harder to compare to Experian because that's a different version. Apparently 04 is more sensitive to new accounts where 98 appears more sensitive to number of accounts with a balance.

 

thank you for the current codes and I see you were too high to get 4 codes on Equifax; do you have the before mortgage reason codes for TransUnion and Experian?

Message 22 of 38
dragontears
Senior Contributor

Re: Mortgage score variation between EX and TU


@Anonymous wrote:

@dragontears The comparison between Equifax and Trans Union would've been the closest since their post based on a 2004 model. Examining the differences in current negative reason codes, it's obvious that the oldest revolving account is making a difference between the two.

 

it's a little bit harder to compare to Experian because that's a different version. Apparently 04 is more sensitive to new accounts where 98 appears more sensitive to number of accounts with a balance.

 

thank you for the current codes and I see you were too high to get 4 codes on Equifax; do you have the before mortgage reason codes for TransUnion and Experian?


Post 7 and 8 of this thread are the reason codes before the mortgage 

Message 23 of 38
Anonymous
Not applicable

Re: Mortgage score variation between EX and TU

I haven’t had my coffee yet I’m sorry. You’re absolutely right let me go look at those and see what I can learn.

To clarify this was a refinance? Because you already had a mortgage in post 1? So what’s the date of the latest mortgage and when did it hit your reports?

The original post is from May so the earlier negative reasons you just gave me were they from back in May when this happened or were they from just now before the mortgage or was the mortgage also back then? Help me out because I’m late coming to this thread and so I need to know the timeline.
Message 24 of 38
dragontears
Senior Contributor

Re: Mortgage score variation between EX and TU


@Anonymous wrote:
I haven’t had my coffee yet I’m sorry. You’re absolutely right let me go look at those and see what I can learn.

To clarify this was a refinance? Because you already had a mortgage in post 1? So what’s the date of the latest mortgage and when did it hit your reports?

The original post is from May so the earlier negative reasons you just gave me were they from back in May when this happened or were they from just now before the mortgage or was the mortgage also back then? Help me out because I’m late coming to this thread and so I need to know the timeline.

@Anonymous 

No this was not a refi, it was a purchase, the mortgage that was already on my reports is for a rental property that I still have so I now have 2 different mortgages on my reports 

I started the mortgage process late May, closed on the house June 19th new mortgage reported July 12-14, pulled the after mortgage reports on July 16th 

Message 25 of 38
Anonymous
Not applicable

Re: Mortgage score variation between EX and TU


@dragontears wrote:

@Anonymous wrote:
I haven’t had my coffee yet I’m sorry. You’re absolutely right let me go look at those and see what I can learn.

To clarify this was a refinance? Because you already had a mortgage in post 1? So what’s the date of the latest mortgage and when did it hit your reports?

The original post is from May so the earlier negative reasons you just gave me were they from back in May when this happened or were they from just now before the mortgage or was the mortgage also back then? Help me out because I’m late coming to this thread and so I need to know the timeline.

@Anonymous 

No this was not a refi, it was a purchase, the mortgage that was already on my reports is for a rental property that I still have so I now have 2 different mortgages on my reports 

I started the mortgage process late May, closed on the house June 19th new mortgage reported July 12-14, pulled the after mortgage reports on July 16th 


@dragontears OK so how many loans closed do you have on your credit report? Does that vary by bureau? So how much time passed between the first report and the second one? And were there any other changes since they appear to be two months apart?

Message 26 of 38
Anonymous
Not applicable

Re: Mortgage score variation between EX and TU

By the way what type of monitoring do you have what kind of alerts do you get?
Message 27 of 38
dragontears
Senior Contributor

Re: Mortgage score variation between EX and TU


@Anonymous wrote:

@dragontears wrote:

@Anonymous wrote:
I haven’t had my coffee yet I’m sorry. You’re absolutely right let me go look at those and see what I can learn.

To clarify this was a refinance? Because you already had a mortgage in post 1? So what’s the date of the latest mortgage and when did it hit your reports?

The original post is from May so the earlier negative reasons you just gave me were they from back in May when this happened or were they from just now before the mortgage or was the mortgage also back then? Help me out because I’m late coming to this thread and so I need to know the timeline.

@Anonymous 

No this was not a refi, it was a purchase, the mortgage that was already on my reports is for a rental property that I still have so I now have 2 different mortgages on my reports 

I started the mortgage process late May, closed on the house June 19th new mortgage reported July 12-14, pulled the after mortgage reports on July 16th 


@dragontears OK so how many loans closed do you have on your credit report? 6 closed loans, 3 student and 3 mortgages Does that vary by bureau? no So how much time passed between the first report and the second one? first report was on 5/6 last report was pulled on 7/16 And were there any other changes since they appear to be two months apart? first report had 4 cards with balances + HELOC; last report had 3 cards with balances + HELOC.

There is a report in between from 6/7 but in that report I had balances only on one card + HELOC. Which is why I was comparing the 5/6 report to the 7/16 report. 


@Anonymous see bolded above 

Message 28 of 38
dragontears
Senior Contributor

Re: Mortgage score variation between EX and TU

I had the myFICO subscription with monthly pulls 


@Anonymous wrote:
By the way what type of monitoring do you have what kind of alerts do you get?

 

Message 29 of 38
Anonymous
Not applicable

Re: Mortgage score variation between EX and TU

If you don’t mind please give me all three mortgage score negative codes from the 6/7 report as well.

I’m gonna have to sit down and think for a minute because we got to try to rule out any aging changes as well, but if you’re not planning any credit activity in the near future, it would be great to know when those new accounts codes fall off and I noticed on Experian it was actually in the third slot and it was many new accounts.

I don’t think it has a single new account code I think it’s only the many at EX2.
Message 30 of 38
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