Profile picture for DebBurg724

Does a lender see the same credit report and scores as the consumer?

  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
August 23 2010 - Ilion
We think we've answered this question for you!
  • Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.
 
 

Answers (5)

@ wetdawgs..you're right on the money!

@ Ed Benko...you can't be more incorrect regarding "tri-merged" commercial credit reports.  I see both consumer and commercial reports daily, and the tri-merged are melted together.  The consumer reports break out the bureaus individually as not all data is the same on each bureau.  The data is as current on a consumer report as is a commercial...I've seen both pulled on the same day and laid side by side.

For example, the commercial report doesn't give specific late payment dates for whichever bureau is reporting the data, the consumer report does.

When I was in the mortgage biz, I once worked for a broker that had an account with CREDCO and also Funding Suite.  I could pull a report with CREDCO, and if the clients scores were too low I could pull with Funding Suite (the same day) and get a different score which was sometimes higher and get the loan submitted.


I couldn't agree more that the consumer scores should mirror the commercial scores, they are VERY misleading.

But take a minute to think about why they are different...If a consumer pulls his own report and is given a "Vantage Score" or a "Plus Score" they assume it's a true commercial FICO score.  They then apply for that mortgage/auto.

So who benefits from this?  The bureaus and FICO, they just sold 2 reports if not more (assuming the client continues to shop).

[Link deleted]
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
September 08 2010
If you are looking to get a mortgage then yes the credit report and even the FICO scores will be very different.  The only way to know where you truly stand with your credit is to have the bureaus pull it directly.  I believe each bureaus should be able to provide you with a credit report on there websites.  I am not sure what the fees are but that would be the best way to go.  If not, you can approach a mortgage company that uses a legitamate credit service that is sponsored by the credit bureaus and is the most effective and legitimate credit repair there is.  Each company that offers it has a different name for it and it is only offered through a bank or lender.  One lender I know has this program available is Quicken Loans.  you can look them up in Google to inquire about the service.  I hope my information has helped.  Good Luck.

Joe Sciarrino
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
August 26 2010
Wetdawgs is absolutely correct -

Lenders see far more than the consumers do and this is a major problem out here ..

All these "free credit report" websites are selling useless, often outdated junk in my opinion

As a lender I'm going to pull whats known as a "tri-merge" report - My reports ae a blending of all three bureaus and contain far more accurate information than what a consumer can pull

The big three reporting agencies are all seperate, individual entities ..they don't always share information nor are they required to

Yes, the FCRA needs alot of work and help
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
August 24 2010
Profile picture for wetdawgs
No, and I think this needs immediate attention from those various regulators who are addressing all sorts of other consumer financial stuff.  A consumer should have direct access to the exact same numbers as lenders, but doesn't.

  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
August 23 2010
It depends because there are various types of credit pulls.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
August 23 2010
 
Related Questions
Does a lender see the same credit report and scores as the consumer?
Profile picture for Jason Hall
Latest answer by Jason Hall
September 08 2010 | 5 answers
Mortgage Rates
 
Be A Good Neighbor

Zillow Advice depends on each member to keep it a safe, fun, and positive place. If you see abuse, flag it. More on our Good Neighbor Policy.

Homes for Sale
  1. 19 N 4th Ave, Ilion, NY Home For Sale
    19 N 4th Ave, Ilion, NY 13357

     For Sale: N/A

    • Beds: 3
    • Sqft: 1378
    • Baths: 1.0
    • Lot: 4791
  2. 420 5th Avenue Ext, Frankfort, NY Home For Sale
    420 5th Avenue Ext, Frankfort, NY 13340

     For Sale: $179,900

    • Beds: 3
    • Sqft: 1428
    • Baths: 2.0
    • Lot: 10720
  3. 131 S 3rd Ave, Ilion, NY Home For Sale
    131 S 3rd Ave, Ilion, NY 13357

     For Sale: $26,000

    • Beds: 3
    • Sqft: 1315
    • Baths: 1.0
    • Lot: 60
 
 
 
Sign in with Google