New Experian Score Available

[bdhu2001]

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@talktohoov wrote:

So is Beacon and what is shown in the new Myfico scores the same or similar??

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For Experian you get V2.  If you have the 3B report, then you get FICO 08 as well as enhanced auto and bank score.  In addition, you get the mortgage score used for EQ and EX.

If you purchased one Bureau report and it wasn't TU, then you get FICO 08 and that CBAs enhanced version for bankcard, auto, and earlier versions.  In addition, you get the mortgage score. I hope I've covered your question.  If not, post and you'll receive plenty of helpful answers.

[Revelate]

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@bdhu2001 wrote:

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@Revelate wrote:

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@talktohoov wrote:

I was told that mortgage lenders use Fico04 scores but the new scoring that is available shows Fico02??? Are these to reports or scores similar?  I'm trying to guage where I stand as I am in the process of buying a home.

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EQ 04

TU 04

EX 98 (aka FICO Risk Model v2)

The one provided by myFICO on the 3B or 1B Experian pull and listed as "most commonly used by mortgage lenders" is indeed accurate.

The issue got confused somewhere over the years (and FWIW that's partially my fault too as I used to respond FICO '04 for mortgage too until maybe a year ago), but we're getting the right one now.

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Actually EQ is Beacon 5.  Everyone says FICO 04 for simplicities sake, but only TU is 04.

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Indeed, I simplified it but EQ Beacon 5.0 is a FICO 04 algorithm  I didn't use the explicit name in the list and you're correct especially as I think the 3B additional scores report it as FICO 5 or similar... both FICO and I used lazy nomenclature on that one, technically Equifax's FICO 8 is Beacon 9 by the same measure.