Why is my credit evaluation high that I acquire from mortgage lender after when I verbs it?
So why would a credit score be higher when pulled by my lender later when I get my fico.
Answers:
ALL lender pull three scores and every broker out there places the umph where they are lend as criteria. car dealerships place it on auto loans. credit cards place it on revolving debt. but they will always use the middle of 3 score or the lower of 2 when only 2 report
Your lender pulls from 3 credit reporting agencies. There's usually a higher fico, a mid fico, and a lower fico. Usually they'll clutch your middle fico.
It could be possible the Score you are pulling is from only one reporting agency and it happens to be the lower of the 3 ficos you hold.
Three agencies and three different scores - yes. But, also score can vary from the same agency, as here are different types of scores that can be pulled, depending on the type of lending that they are doing. The agencies do this to facilitate the lender better determine risk. One profile may be low risk for a mortgage, but a higher risk for a credit card
Who cares--it's higher, so jump with it!! Source(s): tax pro
Related Questions:
Mortgage co. hasnt released lien but, is this on credit report?
Sold my home on May 1st. The mortgage co. received a loan payoff, but said the lien hasnt been released yet "take up to 30 days". Does this have anything do with my credit report if I am in a minute looking to...
Answers:
ALL lender pull three scores and every broker out there places the umph where they are lend as criteria. car dealerships place it on auto loans. credit cards place it on revolving debt. but they will always use the middle of 3 score or the lower of 2 when only 2 report
Your lender pulls from 3 credit reporting agencies. There's usually a higher fico, a mid fico, and a lower fico. Usually they'll clutch your middle fico.
It could be possible the Score you are pulling is from only one reporting agency and it happens to be the lower of the 3 ficos you hold.
Three agencies and three different scores - yes. But, also score can vary from the same agency, as here are different types of scores that can be pulled, depending on the type of lending that they are doing. The agencies do this to facilitate the lender better determine risk. One profile may be low risk for a mortgage, but a higher risk for a credit card
Who cares--it's higher, so jump with it!! Source(s): tax pro
Related Questions:
Mortgage co. hasnt released lien but, is this on credit report?
Sold my home on May 1st. The mortgage co. received a loan payoff, but said the lien hasnt been released yet "take up to 30 days". Does this have anything do with my credit report if I am in a minute looking to...