3/15/11 Currently Credit Keeper and mortgage scores are running fairly close, with exception of Equifax. Equifax mortgage scores tend to be 20 points above the CK scores.
I am watching my scores through Credit Keeper website. How do they compare with mortgage scores?
by kathywardteam | Mar 15, 2011 | Scores | 2 comments
Every entity, mortgage lender, banker, online consumer credit monitoring site, etc. use different scoring models. The information contained in your credit report is run through a scoring model, which is a mathematical formula. When you obtain your scores from a mortgage lender the three scores might be generated by BEACON 5.0, FICO-II, and FICO Classic 04. These are just three of MANY different scoring models used….and why scores aren’t consistent.
A client just sent me this email question: there is a 43 point discrepancy between all three credit reporting agencies. Could this be strong evidence to support that one of more of them have outdated information that is in error?
That could be the reason, however it is not unusual to have up to 70 points difference in scores, which is the result of different information in the credit reports. Not all creditors and collection companies reprot to all three agencies.