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What scoring model does myFICO use?

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Anonymous
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‎08-31-2010 02:41 PM
‎08-31-2010 02:41 PM

What scoring model does myFICO use?

My lender used Equifax Beacon 5.0 to run my mortgage, also Experian FICO V2 and Trans Union Classic 04 but my Beacon 5.0 score from his report was 641 and myFICO score is 700. I've heard that myFICO runs Beacon 5.0 is this true? Are there different version of Beacon 5.0?

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Anonymous
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‎08-31-2010 03:23 PM
‎08-31-2010 03:23 PM

Re: What scoring model does myFICO use?

Welcome! Did you pull your EQ reports on the same day? Were there any recent changes to your reports?

 

I too am in the homebuying process. When I had the pull done for my preapproval, my EQ score from myFICO matched exactly what my lender pulled (also using Beacon 5.0). I'm not sure if there are different versions of the Beacon 5.0 score (such as a "mortgage enhanced" version). Hopefully someone else will have a bit more insight. My TU score was off (TU98 vs TU04), but I was expecting that.

 

Good luck!

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