Teniqueka Green

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Rainer
187,740
Bob Betel
Allstar Home Mortgage, Inc. - Sweetwater, TN
President, Allstar Home Mortgage, Inc

On every loan we pull a Tri-Merged Credit Report which is from Trans Union, Equifax and Experian, combined into one report. We throw out the highest score and the lowest score and use the middle score. Not all creditors report to all three bureaus, so therefore you get different scores. One is not more important than the other.

Jun 01, 2016 02:34 AM
Rainmaker
851,861
Jennifer Mackay
Counts Real Estate Group, Inc. - Panama City, FL
Your Bay County Florida Realtor 850.774.6582

Not sure as I'm not a lender - but I believe all of them - also, just as important is the debt to income ratio!

May 31, 2016 09:29 PM
Rainmaker
932,581
Thomas J. Nelson, Realtor, ePRO, CRS, RCS-D
Big Block Realty 858.232.8722 - La Jolla, CA
& Host of Postcards From Success Podcast

Experian.

May 31, 2016 01:49 PM
Rainmaker
95,709
Scott Lawson
America's Home loans - Santa Rosa, Petaluma Mortgage Broker - Santa Rosa, CA
Mortgage Broker FHA, VA, refinance or purchase

Like grading on a curve, we only take the middle score and throw out the highest and lowest.

 

If there are multilple borrowers, we then use the lowest of all middle scores...

 

This is not true for some lenders, but for ALL lenders/creditors...

May 31, 2016 11:41 PM
Rainmaker
1,080,147
Anthony Acosta - ALLATLANTACONDOS.COM
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

Teniqueka Green that's a great question for a lender.

May 31, 2016 11:32 PM
Rainmaker
3,130,683
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Ask your lenders. I don't get involved in credit reports as a broker.

May 31, 2016 10:17 PM
Rainmaker
3,301,155
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

They all count. The lowest one counts most!

May 31, 2016 10:01 PM
Rainmaker
5,423,636
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

All of them matter.

May 31, 2016 09:40 PM
Rainmaker
1,543,435
Lyn Sims
RE/MAX Suburban - Schaumburg, IL
Schaumburg IL Real Estate

I thought it was called a blended report from all 3. Depending on your part of the country, there is a major for your area. Ours here is Experian. 

Yes, all 3 will be different scores.

 

May 31, 2016 09:27 PM
Rainmaker
820,246
Diana Zaccaro
Tropical Beachside brokered by eXp - Cocoa Beach, FL
"The Accidental Blogger" Cocoa Beach, Florida

Lenders pull reports from all three bureaus and use the mid-score. Not all creditors report to all three bureaus so the scores are different. And the bureaus have each have different algorithms which also causes the scores to be different. That is why lenders pull from all three bureaus and take the mid-score.

 

May 31, 2016 03:49 PM
Ambassador
4,300,542
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Teniqueka Green - I think all of them. Most lenders check all three.

May 31, 2016 03:23 PM
Ambassador
4,265,214
Bob Crane
Woodland Management Service / Woodland Real Estate, Keller Williams Fox Cities - Stevens Point, WI
Forestland Experts! 715-204-9671

Looks like Bob Betel offers a good assessment.

Jul 09, 2017 09:05 PM
Ambassador
1,613,740
Harry F. D'Elia
RentVest - Phoenix, AZ
Investor , Mentor, GRI, Radio, CIPS, REOs, ABR

All 3 take the midscore is the process

Jun 16, 2017 07:36 AM
Ambassador
3,351,028
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

As Bob said, the middle score of the 3 is what my lenders in Charlotte use.

Jun 04, 2017 09:48 PM
Rainmaker
1,696,637
Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker and Attorney Licensed in DC, MD, VA,

good question - one I don't know the answer to

Jun 04, 2016 12:35 AM
Rainmaker
1,010,081
Kevin J. May
Florida Supreme Realty - Hobe Sound, FL
Serving the Treasure & Paradise Coasts of Florida

A lender could use one, two or all three and sometimes none. Once you know which source(s) they look at then that becomes what matters most.

Jun 01, 2016 04:39 AM
Rainmaker
1,378,917
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Teniqueka Green I believe all three of them are taken into consideration when evaluation credit.

Jun 01, 2016 03:35 AM
Rainmaker
1,246,882
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

In my experience, the lenders I've worked with have run my reports from all bureaus.

Jun 01, 2016 03:30 AM
Rainmaker
3,983,315
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

My lender looks at them all

Jun 01, 2016 02:53 AM
Rainmaker
5,035,861
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
Marketing Agent for The Todaro Team

I'll check all of the answers here.....I would assume all of them would be important....

Jun 01, 2016 01:49 AM
Rainmaker
1,548,850
Sandy Padula and Norm Padula, JD, GRI
HomeSmart Realty West & Geneva Financial, Llc. - Carlsbad, CA
Presence, Persistence & Perseverance

You need at least two credit reports and preferrable all three. If two, the lowest score is used. If three, the middle score. You cannot succeed with just one credit report.

Jun 01, 2016 12:31 AM
Rainmaker
737,675
Olga Simoncelli
Veritas Prime, LLC dba Veritas Prime Real Estate - New Fairfield, CT
CONSULTANT, Real Estate Services & Risk Management

I believe the lenders take an average.

May 31, 2016 11:59 PM
Rainmaker
2,464,109
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Anyone of them wields a big stick

May 31, 2016 11:27 PM
Rainmaker
3,360,748
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

I leave this to a trusted lender since I am not involved in making loans.  

May 31, 2016 11:05 PM
Rainmaker
784,246
Susan Laxson CRS
HomeSmart Professionals - La Quinta, CA
Local Knowledge & Global Network

All three count to many lenders.

May 31, 2016 10:43 PM
Rainmaker
1,157,274
FN LN
Toronto, ON

It depends on the lender.

May 31, 2016 10:21 PM
Rainmaker
3,053,541
Tony and Suzanne Marriott, Associate Brokers
Haven Express @ Keller Williams Arizona Realty - Scottsdale, AZ
Serving Scottsdale, Phoenix and Maricopa County AZ

TriMerged

May 31, 2016 10:00 PM
Rainmaker
2,676,856
Debbie Gartner
The Flooring Girl - White Plains, NY
The Flooring Girl & Blog Stylist -Dynamo Marketers

I always thought they averaged them or took middle score.  Ask a lender, though.

May 31, 2016 07:48 PM
Rainer
247,962
Libby Cousins
Extraordinary Processing - Spokane, WA
Contract Mortgage Processor, licensed in WA

Typically yes, all 3 scores are different but I'd say 15% of the time, 2 of them have the same score. In that case, the lowest score is used. If all 3 scores are different, the middle score is used. No one bureau outwieghs another. 

May 31, 2016 05:19 PM
Rainmaker
469,924
Diana Dahlberg
1 Month Realty - Pleasant Prairie, WI
Real Estate in Kenosha, WI since 1994 262-308-3563

I believe they are the BIG 3 ...  the lenders look at all three and then they use the middle score.

May 31, 2016 03:27 PM
Rainmaker
1,021,679
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

Middle score one.

May 31, 2016 02:31 PM
Rainmaker
512,362
Jeffrey Jones
AZ Home Seekers - San Tan Valley, AZ
AZ Home Seekers, azhomeseekers.com

generally the lenders pull all three and use the middle score. Therefore they all carry equal weight.

May 31, 2016 02:27 PM
Ambassador
2,868,963
Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

in my experience all three have been pulled and the middle FICO score has been used.

May 31, 2016 02:21 PM
Rainer
303,464
Melissa Jackson
Citiwide Alliance Realty - Weatherford, TX
Helping You Make The Right Move

Experian seems to hold the best information.  This may not be better for clients. I don't know if one outweighs the other.

May 31, 2016 01:28 PM
Rainer
12,910
Teniqueka Green
Lafayette, LA

I ask this because all of them may have a different number.

May 31, 2016 01:17 PM
Ambassador
3,678,450
Patricia Kennedy
RLAH Real Estate - Washington, DC
Home in the Capital

I didn't think they were weighted.

May 31, 2016 01:11 PM