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Old 03-31-2011, 06:46 PM
 
295 posts, read 1,061,079 times
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i have experiandirect and when i check my score it is 20 to 30 points higher than the score my lender sent me. why is that? i tried to use the lenders credit score website but it seems it's only for lenders.
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Old 03-31-2011, 07:40 PM
 
Location: Glen Rock, NJ
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Lenders usually pull from ALL 3 reporting agencies, throw out the lowest, the highest and take the middle score. I've had as much as a 30 point spread as well between lowest and highest. Sounds like 'experian direct' just pulls their report?
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Old 03-31-2011, 07:47 PM
 
Location: Laguna Niguel, CA
768 posts, read 4,071,351 times
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The scores a consumer get from the various "score websites" are just estimates.
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Old 03-31-2011, 08:34 PM
 
295 posts, read 1,061,079 times
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Quote:
Originally Posted by ShanetheMortgageMan View Post
The scores a consumer get from the various "score websites" are just estimates.
hi, how do i get a real score same as what lenders use?
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Old 03-31-2011, 08:49 PM
 
Location: Scottsdale, AZ
2,081 posts, read 4,145,234 times
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Quote:
Originally Posted by Proud2bPinoy View Post
i have experiandirect and when i check my score it is 20 to 30 points higher than the score my lender sent me. why is that? i tried to use the lenders credit score website but it seems it's only for lenders.
Lenders use a "tri-merged" report. Essentially it is an average of the 3 reports. Yes it can be higher or lower than 1 single report.

You can purchase a "tri-merged" report from Experian
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Old 04-01-2011, 03:06 AM
 
Location: Laguna Niguel, CA
768 posts, read 4,071,351 times
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Quote:
Originally Posted by Proud2bPinoy View Post
hi, how do i get a real score same as what lenders use?
The only score you can get that will be the exact as a lenders is your Equifax score from myFICO.com. TransUnion doesn't currently allow borrowers to get their Classic 04 score which is the TU score model that mortgage lenders use, and Experian no longer allows consumers to get their true Experian FICO score. It sucks.
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Old 04-01-2011, 05:52 AM
 
Location: MID ATLANTIC
7,846 posts, read 19,164,896 times
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The laws have loosened up some - use to be the lender had to hold your report hostage, could never show you what came in. Over the years it's eased up, even to the point where now you have to acknowledge receipt of your scores and how they can impact borrowing. In the past, lenders would not share because it was interpreted the lender was acting a a consumer reporting agency, and therefore, responsible for all information contained in the report. That's no longer the case, so many lenders will share the report with you.

Before you have your report pulled, ask the lender if they will share the full report with you. If they say no, move on to the next. Once you have it in your possession, go shopping for a loan and ask whoever you talk with to use that report for quotes. Each lender must run their own, but it will keep you in control of who is pulling your credit. (I don't care if all the pulls are considered "one pull" on your credit......you still have to explain why everyone was pulling your credit. These days, it's crazy to add additional scrutiny of any kind).
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