mortgage enhanced score differs from Fico score?

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are mortgage enhanced score and fico different? i approached a lender and he suggested ehrn lenders pull credit reports they look for the firt and not fico scores. if my fico score is 670, what can be the mortgage enhanced score?

gmakerley · Posted: Thu May 15, 2008 6:01 am Post subject:

i have no experience with enhanced scores, but i would love to see someone who does answer this post for the edification of all of us.

larry · Joined: 27 Jun 2007 Posts: 3328 474.61 Dollars($)

Hi jaggers,

Welcome to the forum.

FICO scores are given by the credit bureau. But mortgage enhanced score may be given by certain lenders after certain numerical calculations to know whether you van get approve for certain loan programs. The lender who have told you about the mortgage enhanced score may be the better person to tell you about mortgage enhanced score.

So please ask him and if you can please let us know about it.

greg1 · Posted: Fri May 16, 2008 7:01 am Post subject:

The scores pulled from the 3 repositories via a RMCR (Residential Mortgage Credit Report) have certain triggers tailored to the Mortgage industry that cause there to be a variation in scores. The same applies to the Automotive industry. This could be considered a Mortgage Enhanced Score.

or

Some lenders have their own internal scoring system in addition to the credit report. It can take more than just the scores on your credit report into account. Items such as job title, length at residence, length at employer, assets, payment shock, and other factors not used for calculating FICO.

Many of the Finance Companies who do Mortgages or Personal Loans use a decisioning system like this in addition to human underwriting.

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