TU Mortgage Score Dropped 30 points when mortgage paid HELP

[Anonymous]

I have been working very hard to clean up my credit to get a mortgage in 30 days. One of the things TU had as impacting my mortgage scores was Mortgage Installment loans too high compared to original balance. Well my mortgage was paid off in October when we sold our house, so I got the Nationstar account to update to 0 and they also reported the account closed. I lost 30 points on my mortgage score. Please help me understand, I still have another installment loan, my car with Lexus. I am extremely devestated!

[newhis]

The drop was in TU FICO 08 or mortgage score?

From what I read they are different models.

Can you tell us the balance you had on mortgage and original before it reported $0, also with your car?

[Anonymous]

I don't know anything about mortgage scores, but I'd venture to guess that they don't factor in your auto loan and that's why you lost the points on your mortgage score.

If you check your FICO 08's however, I'd assume your score is similar with your mortgage paid off, depending on where your auto loan utilization sits.  If it's a new auto loan and your installment loan utilization just went from like 8% to 90%, that could cause a drop on your FICO 08's as well but if the auto loan is already significantly paid down I would say your scores would remain similar.

[Anonymous]

My FICO 8 TU score dropped from 670 to 646. 

My mortgage score on TU dropped from 607 to 587.

My Mortgage loan utilization was 78.8% when I paid it off. My auto installment loan is 83.3%. I know being over 80% on installment loans is said to cause a loss in points but I would not think this drastic. I have paid my auto loan down under 80% to see what that does. The only the other thing that happened is Dispute Comments removed (not investigations or accounts in dispute) and this should not have had an impact. Pretty frustrated with this entire process...

[Revelate]

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@Anonymous wrote:

My FICO 8 TU score dropped from 670 to 646. 

My mortgage score on TU dropped from 607 to 587.

My Mortgage loan utilization was 78.8% when I paid it off. My auto installment loan is 83.3%. I know being over 80% on installment loans is said to cause a loss in points but I would not think this drastic. I have paid my auto loan down under 80% to see what that does. The only the other thing that happened is Dispute Comments removed (not investigations or accounts in dispute) and this should not have had an impact. Pretty frustrated with this entire process...

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My guess would be something wasn't dispute complete; what were the items with dispute comments on them?

Nobody throughout our testing found that any FICO 04 model (which the TU mortgage score is) moved at all, and there was never any reason codes for installment utilization on that score whereas there were on other flavors.  Actually I've never seen installment utilization in the FICO 04 reason codes on any bureau (just looked at an EX FICO 3).

Something impacted your TU mortgage score I agree, but I don't think it was paying off the mortgage loan.  From personal data I don't track TU 04 much honestly, but EQ FICO 5 (Beacon 5.0 a FICO 04 model) is my personal benchmark: I am so sick of being at 693 which I have been for YEARS throughout all my installment testing, and getting a mortgage too.  Just doesn't doesn't seem to rate.