Update: FICO2 experiment (is it worth it?)

[Anonymous]

@randomguy1 It is consistent, with the mortgage scores would go down due to the number of accounts; whereas version 8 misapplies the AU penalty, we think unintentionally, but maybe it was intentionally. what is fico 5?

But 20 points is quite a lot how many revolvers do you have?

[randomguy1]

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@Anonymous wrote:
@randomguy1It is consistent, with the mortgage scores would go down due to the number of accounts; whereas version 8 misapplies the AU penalty, we think unintentionally, but maybe it was intentionally. what is fico 5?

But 20 points is quite a lot how many revolvers do you have?

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4 revolvers.  + 1 AU. 
fico 5 is 690. The age helps on the AU cards quite a bit apparently. 

[Anonymous]

The AU age always counts on the mortgage scores, no matter what, but apparently they’re counting on your version 8 as well because you got the AU AZ penalty.

5? that’s perfect if you’ve got a balance on only one primary card, that should put you at the 20% threshold.

What is fico 5?

[randomguy1]

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@Anonymous wrote:
The AU age always counts on the mortgage scores, no matter what, but apparently they’re counting on your version 8 as well because you got the AU AZ penalty.

5? that’s perfect if you’ve got a balance on only one primary card, that should put you at the 20% threshold.

What is fico 5?

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My FICO 5 is at 690. It doesn't have the AU reporting so I think it hurts a bit with account age. Everything else on the 3 reports looks the same from what I can tell. I probably should of added on another AU tbh.

[Anonymous]

No I’ve never heard of version 5 I don’t understand what version you’re referring to. You mean the ‘08 models, since they followed the ‘04?

[randomguy1]

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@Anonymous wrote:
No I’ve never heard of version 5 I don’t understand what version you’re referring to. You mean the ‘08 models, since they followed the ‘04?

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What is Equifax's FICO score for mortgages?

FICO Score 5, no?

TU FICO 4

EX FICO 2

EQ FICO 5?

[Anonymous]

Ok i feel dumb. EQ5. Lol. For some reason it just didn’t register in my brain. Need caffeine

[Anonymous]

@randomguy1 Sorry, I was thinking of the years, not the model numbers, been quite occupied lately need more caffeine, but the mortgage models just see the AU accounts as another account, so it increases your number of revolvers/accounts metric and you’re crossing a threshold is why you’re seeing those points change, I believe, but in version 8 they put AUs in a separate category and then penalize for them independently with the AZ penalty.

[randomguy1]

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@Anonymous wrote:
@randomguy1Sorry, I was thinking of the years, not the model numbers, been quite occupied lately need more caffeine, but the mortgage models just see the AU accounts as another account, so it increases your number of revolvers/accounts metric and you’re crossing a threshold is why you’re seeing those points change, I believe, but in version 8 they put AUs in a separate category and then penalize for them independently with the AZ penalty.

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No worries @Anonymous  Your help and thoughtful insights are always appreciated.

[Anonymous]

@randomguy1 my pleasure. But keep in mind that's why we suggest AZEO for the mortgage scores and since you have a small number of revolvers one more reporting a balance makes a bigger difference than someone who has a 20 cards. So the difference will be more pronounced on your profile.