i pulled myfico scores, lender didn't?

Anonymous · ‎08-06-2009

My mom is trying to refinance her house so we pulled her two scores from myFico. Her lender pulled her scores and got entirely different scores. I always though lenders used certified fico scores. I ran into this last year when getting a car. I pulled fico and they were higher and they pulled ?? and they were lower. Who are they using?

nathan · ‎08-06-2009

It depends on which version the lender pulled. Most lenders now use tu04, but the score we buy from this web site is tu98. The eq score from here is usually the same for mortgages, and most members here said their eq was the same as what their lenders pulled for mortgages. Tu98 is gradually becoming a fako imho because most lenders no longer use it to determine credit worthiness.

Anonymous · ‎08-09-2009

In addition to what nathan said, also their are industry-specific scoring models as well. For instance, an auto industry score may score you higher if you've had a paid auto loan in the past, vs. never having one or not having one for some time, etc. So you may have run into this as well, which could help explain the discrepancy in scores.

llecs · ‎08-09-2009

Not every lender pulls a FICO score. A very tiny minority use other scores like VantageScore. Ask your mom to ask the lender to figure out what score was pulled. If FICO, what version was used. Make sure the scores were pulled on or near the same exact day. Scores can change daily.

bigtim wrote:
In addition to what nathan said, also their are industry-specific scoring models as well. For instance, an auto industry score may score you higher if you've had a paid auto loan in the past, vs. never having one or not having one for some time, etc. So you may have run into this as well, which could help explain the discrepancy in scores.

To add, the only mortgage-enhanced FICO score out there is via EQ. Likewise, auto-enhanced scores are via all 3.

Message Edited by llecs on 08-09-2009 08:18 AM