Brody Posted March 14, 2007 Report Share Posted March 14, 2007 Anyone know why my online score from experian is 599 and my bank pulled for a mortgage and it is 670....why the difference? I checked my score online after the bank Loan guy pulled and it was 599 after 10 minutes before he told me it is 670...just curious Link to comment Share on other sites More sharing options...
Methuss Posted March 14, 2007 Report Share Posted March 14, 2007 Lenders can purchase any of several different scoring models to get the final FICO number. Mortgage companies tend to use a model that weighs more heavily on secured loan activity and takes less consideration of credit cards. The mortgage model also usually puts a lot less weight on old (more than 24 months old) delinquencies. Link to comment Share on other sites More sharing options...
VonAngel (aka EarthAngel) Posted March 14, 2007 Report Share Posted March 14, 2007 In addition, if you pulled your score directly from EX, then it's a FAKO score (a score mortgage lenders and most CC lenders don't even bother to look at). Link to comment Share on other sites More sharing options...
Brody Posted March 15, 2007 Author Report Share Posted March 15, 2007 Thanks for the insight. Is there a way to find your true FICO score before going to apply for new credit then? Link to comment Share on other sites More sharing options...
kevin3344 Posted March 15, 2007 Report Share Posted March 15, 2007 (edited) MyFico.com is the only place to get your real fico scores. When I got my mortgage 2 years ago, EQ was the only one that matched my 'myFico' scores EXACTLY (EQ is fico by the way). EX and TU is usually wayyyyy off since they're FAKO.________DEPAKOTE INJURY LAWYER Edited September 9, 2011 by kevin3344 Link to comment Share on other sites More sharing options...
Methuss Posted March 15, 2007 Report Share Posted March 15, 2007 (EQ is fico by the way). EX and TU is usually wayyyyy off since they're FAKO.No. Actually, Fair Isaac developed all the models for Equifax, TransUnion, and Experian. They are all FICO engineered. (except that new one that the bureaus developed themselves...which is junk and no lender will even touch it)EQ just happens to use the model that is closest to the current Fair Isaac base-line model. TU's model seems to be closest to the FICO mortgage model. Experian, well, they can't seem to do anything right and their model is off base all around. Link to comment Share on other sites More sharing options...
kevin3344 Posted March 15, 2007 Report Share Posted March 15, 2007 (edited) If you look at the fine print on TUs website regarding their credit scoring product, it says this: "TrueLink is not connected in any way with Fair, Isaac and Company; the credit score provided here is not a so-called FICO score. The credit scores of TransUnion may not be identical in every respect to any consumer credit scores produced by any other company."Now, I'm not sure who came up with it. All I know is it wasn't close to my scores when pulled by my lender 2 years ago.________Depakote lawsuit info Edited September 9, 2011 by kevin3344 Link to comment Share on other sites More sharing options...
Ahntara Posted March 17, 2007 Report Share Posted March 17, 2007 "...it wasn't close to my scores when pulled by my lender..."Reread Methuss' response. For the most part, consumers don't have access to the scores that lenders use. ALL credit scores are 'real' and 'accurate' according to the software used to calculate the number. And since you can't get the actual number that a lender will get; why worry about it?This is why it's so frequently recommended to follow a pattern of action that builds high scores and not kvetch over the actual number...Many use TC to follow their progress. Link to comment Share on other sites More sharing options...
shan2themax Posted March 17, 2007 Report Share Posted March 17, 2007 MyFico.com is the only place to get your real fico scores. When I got my mortgage 2 years ago, EQ was the only one that matched my 'myFico' scores EXACTLY (EQ is fico by the way). EX and TU is usually wayyyyy off since they're FAKO.Mine arent even close together... My EQ on 'truecredit' is 619, while my EQ 'FICO', is only 558. its too bad that we cant have access to the differentn scoring models Link to comment Share on other sites More sharing options...
Big Time Posted March 18, 2007 Report Share Posted March 18, 2007 .which is junk and no lender will even touch it).Vantagescore? It flopped? Link to comment Share on other sites More sharing options...
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