Are credit scores provided to consumers calculated the same as credit scores provided to mortgage lenders?
August 13, 2009 By: Curtis Arnold Question: I hope you are doing well. I think the information on your site is so helpful, and I have consulted it and recommended it numerous times. I have a question that needs your expertise. My boyfriend is in the process of buying a home. He went online and got his credit scores from the three main credit reporting agencies the same day that a mortgage lender pulled his credit report. The credit scores he received were significantly higher than what the lender pulled; enough to affect the interest rate they were willing to offer. When he questioned the loan officer about the differences in the scores, she forwarded his question on to someone else at the bank. Ultimately, this is the response he got: “A report he would have pulled would be a “consumer monitoring” report only. The score is calculated differently because when he pulls it, he is not actually applying for any credit, just monitoring his own. When the credit is pulled by a credit grantor/
