Non-Mortgage Loan Util % DP? (EX)

[calyx]

I don't know if it helps anyone, but my student loan reported as closed to EX - I've been checking it daily for something else and I saw an unexpected drop.   This DP is totally isolated, as nothing else changed, and aging certainly isn't on the table right now.    

I lost 8 points on FICO8:  799 > 791

I lost a few points on others, but FICO2 (my favorite jerk score) was unchanged.

Old loan util%:  57% (SL = 48%, Auto = 68%)

New loan util%: 68% (Auto only)

So a possible 8 points for some sort of threshhold between 57 & 68 (59/60?), maybe (as definitive as everything else about FICO scoring )

[Anonymous]

A couple of other indirect things that changed as well would be you have 1 less account with a balance and your ratio of loans to revolvers also changed with the closure of 1 of 2 loans.

I know we always think of loan utilization in aggregate, but has anyone with multiple loans ever seen any gains outside of aggregate?  For example, just for the sake of using the numbers you provided in their individual utilization levels, say there was a bump given for a SL below 50%.  Once that loan was closed, bump possibly goes away.  I doubt it, but just sort of thinking out loud.

[Anonymous]

---

@calyx wrote:

I don't know if it helps anyone, but my student loan reported as closed to EX - I've been checking it daily for something else and I saw an unexpected drop.   This DP is totally isolated, as nothing else changed, and aging certainly isn't on the table right now.    

I lost 8 points on FICO8:  799 > 791

I lost a few points on others, but FICO2 (my favorite jerk score) was unchanged.

Old loan util%:  57% (SL = 48%, Auto = 68%)

New loan util%: 68% (Auto only)

So a possible 8 points for some sort of threshhold between 57 & 68 (59/60?), maybe (as definitive as everything else about FICO scoring )

---

I believe there is a 60% threshold? Maybe 65%. I would have to double check previous DPs.

[Anonymous]

60% would make sense if that's indeed a thing.  Perhaps it depends on installment loan type.  My understanding is that for mortgages for example some have reported their first bump somewhere in the 70%-80% utilization range, as somewhere around there can impact the "significantly paid down..." negative reason code.

[calyx]

---

@Anonymous wrote:

A couple of other indirect things that changed as well would be you have 1 less account with a balance and your ratio of loans to revolvers also changed with the closure of 1 of 2 loans.

I know we always think of loan utilization in aggregate, but has anyone with multiple loans ever seen any gains outside of aggregate?  For example, just for the sake of using the numbers you provided in their individual utilization levels, say there was a bump given for a SL below 50%.  Once that loan was closed, bump possibly goes away.  I doubt it, but just sort of thinking out loud.

---

Hence my multiple question marks .

I have 13 open revolvers with 9 reporting balances, so the ratio of installments:revolvers is low, with one or two reporting, but FICO is ever a mystery.
I would note that my FAKO went up when the loan closed, which I wasn't surprised by since I feel like dollars owed is a much bigger score driver there.

I actually have been tracking individual utilizations for my loans and haven't seen anything significant.   Unfortunately, my student loan is inconsistent with its reporting (there's a 6 day spread), which made it challenging.   I was having a lot more fun before I got the auto loan (a year earlier than planned/hoped).

I did bring the SL down from 52% to 48% after the CARES act made it easier to deal with reporting (not having to calculate out the interest),  hoping to see some movement on the individual and did not see anything (no obvious threshholds were crossed for aggregate at that time).

[Anonymous]

There is a believed aggregate loan threshold at 65% that’s a worth of third of the 10% threshold I think and 8 points would make total sense considering that would equate to about 25 points once you cross 10%.

I’m not sure accounts with a balance play a role since it only seems you’re around 70%, not a known threshold. Loan:Revolver ratio may have played a role, but I would think that to be small.

[Anonymous]

BM, have you read anything further on a possible threshold for mortgages north of 65%?  It's been at least a year since I've looked into it at all and I'm not sure if further evidence or conclusions have been arrived at during that time.

[Anonymous]

---

@Anonymous wrote:

BM, have you read anything further on a possible threshold for mortgages north of 65%?  It's been at least a year since I've looked into it at all and I'm not sure if further evidence or conclusions have been arrived at during that time.

---

@Anonymous Well, @Remedios reported a small one at 87% isolated, other than that, I think I had one other report of one in the 80s. I try to update the Primer. But the only ones we have numerous reports of are the 10% and 65%.

[Anonymous]

Darn, I have a feeling my refi will happen just before then, probably at 67-68%.

[Anonymous]

Make an extra payment for science sake!