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Opinion post- Mortgage Scores

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Re: Opinion post- Mortgage Scores

Almost by definition and across all across all scoring models, 1/3 of the population will "hate" any given bureau the most, as that's the one that's given them the most issues and/or the data that's yielded them the lowest scores.  1/3 of the population will "love" one bureau the most for the opposite reasons.

Message 11 of 12
Valued Contributor

Re: Opinion post- Mortgage Scores

I agree totally with BBS.  The question regarding "which bureau is the best" 1/3 to 1/3 to 1/3.


IMO I don't think one is more accurate or less accurate as it is what it is.  This forum can  help us understand some of those intricacies.  However, from an… (my) analyst view, it kind of makes sense to me that the scores used for MTG is less forgiving or have different parameters as most industry models evaluation caters to that industry (although these are not technically industry score but are used as such).  

15 -30  years is a long time and usually a significant larger amount than most loans.  Yet this is no absolute analysis as there are no absolutes when it comes to “guessing” risk.  It just is what it is.


I literally woke up one day(after much research here and there) and put in best practices from that day forward. However, my factual past behaviour didn't support my new found behaviour. It took time to look better in the eyes of creditors. Even understanding some of the intricacies I'm not sure I maximized my scores when I ref-fi'd in June 2018. But implementing what I was able to garner from this forum I saw my "MTG" scores rise when preparing for the re-fi.


Example I had my highest UTL for CC's crossing 8.9% UTL for aggregate in a very long time.  Surprisingly my EX MTG scores didn't move as I had the same # of accts reporting, no age thresholds, etc from the prior month. So happened to have my 3B report at the same time.  Comparing my EQ and TU MTG scores shows this increase in crossing a threshold didn't change much in these scores, although my F8 scores had more movement when they typically stay relatively stagnant with no significant thresholds being crossed.


Just my 2 cents.

FICO - 8: 09/09/21 AU 8 BC 8
FICO - 9: 09/09/21 AU 9 BC 9
F5,F4,F2 09/09/21 AU... BC...
Vantage 09/09/21
As of 09/01/21:
AoOA - 25Y6M | AoYA – 0Y10M | AAoA – 12Y4M
Open: 11 CC: (1 reporting 2.84% : 0.25% AGG UTL) | 1 PLOC | 1 MTG loan: 46.89% UTL
Closed: 1 MTG loan | 2 Auto loans | (EQ) 2 CC, (EX & TU) 1 CC
INQ: (EQ) 0/24 | (TU) 1/24 | (EX) 1/24
Message 12 of 12
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