TransUnion Score on myFICO

[Anonymous]

Why is my TransUnion score I purchase on this site (not FAKO) 607 and when my mortgage broker checked it less than 24 hours later, she got 587, which 587 is exactly the same TU score from 1 month ago???

[haulingthescoreup]

Your lender probably pulled TU 04, as in 2004, instead of TU 98, which is what is available here. (I think they're waiting on TU to update.) The formulas are slightly different, and some people do better with 04, and others do better with 98. I think there's a thread somewhere discussing the differences between the two --I can never remember.

The fact that your earlier score from here matched the new lender pull is (or should be) coincidental.

[Anonymous]

Actually the scores to not match and I just noticed they were pull the same exact day, not 24 hours later as I had said.  I got 607 here.  She got 587 the same day.  587 is the same score from a month ago and I just don't believe that my score with TU didn't change at all.  Could it be that I'm disputing with TU?  Do they freeze your score while disputing?

[haulingthescoreup]

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mom23boys wrote:
Actually the scores to not match and I just noticed they were pull the same exact day, not 24 hours later as I had said.  I got 607 here.  She got 587 the same day.  587 is the same score from a month ago and I just don't believe that my score with TU didn't change at all.  Could it be that I'm disputing with TU?  Do they freeze your score while disputing?

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Sorry, I wasn't clear. What I was trying to say was that when you pulled your 587 a month ago from myFICO, it was scored by the TU 98 formula. You pulled again and got a 607, again from the TU 98 formula.

Meanwhile, your lender pulled the same day, probably from the TU 04 formula, where you scored a 587. It's not that somehow that 587 has carried over. It's that you were scored by two different formulas, TU 98 and TU 04.

You might ask your lender for the exact name of the score formula that they used to confirm this, or possibly to confuse things all over again.

Now that over half the nation's lenders are using TU 04, myFICO is trying to make it available here. It appears to be a slow and tedious process.

[Anonymous]

The 587 score last month was also a lender pull.  I've only pulled one on this site.  Could the reason for no change be from the dispute with TU?  Is there only this difference on TU or EQ too?

[haulingthescoreup]

OK, that explains it even better.

Your TU 04 score is 587. It didn't change from last month to this month, when your lender pulled again.

Your TU 98 score, pulled from myFICO, is 607. It is a different score from TU 04, even though it's also a legitimate FICO score. Unfortunately, your lender is using the newer version, under which you score lower.

Disputing sometimes changes a score --might be upwards, might be downwards. It depends on what is being disputed, how old it is, and so forth.

If you see the report that your lender pulled, what are the negative reasons on it? Pay particular attention to the first two --they're the ones that are hurting you the most. It's possible that you might be able to change some payment patterns and get your TU 04 (lender) score up to 600 or better.

[ShanetheMortgageMan]

Came here for this info and it's exactly what I wanted... but my main question is ... when is myFICO.com going to change to the TU 04 model?  When I recommend people go here to buy their reports, and since only 2 scores can be rec'd right now, it is helpful to know that the score they will be pulling is the same as mine - which more and more mortgage lenders are only using TU 04.  

[llecs]

Many of us have asked the same question. The operative answer is "soon".

[Anonymous]

However, after two years of asking, "soon" isn't cutting it as a real answer.

The situation is even more absurd this year, with the EX Fico being unavailable for consumers. Previously, if your EQ was 630 and your EX was 620, at least you knew you were OK to proceed with a 620-minimum loan regardless of which TU score your lender pulled.

Now, if your MyFico TU'98 is 640 and your EQ is 620, you have no idea of where you stand, because the lender could pull a TU'04 that is 610, and if your mystery EX score is also below 620, you're suddenly forced to do some emergency credit fixing, which may or may not be possible.

Fico and TransUnion need to get their collective act together. This paralysis is beyond ridiculous, and puts a serious dent in the usefulness of Fico scores as a mortgage loan preparation tool ...

Message Edited by Revike on 06-05-2009 01:57 PM

[smallfry]

So what's the deal? They have 04 but won't sell it here? And the point of that would be?