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leavingbrooklyn

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  1. Just an update here for future readers. What I didn't know when I posted this (but what's become clear with further research) is that mortgage underwriters often use very different scoring models (as suggested above) from other creditors. I don't have the expertise to go into the nuances of how/why these models are different, but it gets to the crux of my question about why CBCInnovis returned such a different result from myFICO. As for the tax lien, going back through my records I discovered a discrepancy with the public records. While DC shows a LACT date of 2010, it turns out that I actually paid in full in 2007. I'm currently disputing with the CRAs (I'm 99% certain that the DC government will not be able to effectively update their records and notify the CRAs).
  2. Isn't that just for federal tax liens? This one is from the District of Columbia. I haven't found any good info on removing liens from state/city taxes.
  3. After spending a bit more time with my reports this afternoon, I have to revise my original post: The PRs do in fact show up on the reports from myFICO. They just don't seem to have the same impact on the myFICO score as they do on the scores coming from CBC. I don't know the ins and outs of how the scoring models work, but I wasn't expecting to see someone like CBC report such a drastically different set of numbers from what I get from myFICO. Maybe it comes down to this question: Are all lenders evaluating me for a jumbo mortgage going to get a report with this low score? Or do I just need to find a lender who is going to get a report that more closely matches the myFICO scores?
  4. Interesting. But at the same time I have to wonder: Would you really need something like a Full Factual to uncover this? Why doesn't this show up on the reports I pull from myFICO and the CRAs? After all, the Last Activity (payment in 2010) is a lot less than seven years old.
  5. All three bureaus are reporting the PR. TU and EXP report it as "TAX LIEN RELEASED FILED−03/05 LACT−01/10" and EFX says, "LIEN RELEASED FILED−03/05 LACT−01/10" All three bureaus also list it as a negative factor: "DEROGATORY PUBLIC RECORD OR COLLECTION FILED"
  6. Hi everyone... first post so let me know if I miss any important details and thanks in advance. I'm in the process of applying for a mortgage with my wife for our first home. Her scores are good (787/792/794) but our joint application was denied because of my score as reported by CBC Innovis. They pegged me at: BEACON 5.0 SCORE +652 EFX01 CLASSIC 04 SCORE +688 TRU01 FAIR ISAAC SCORE 2 +661 XPN01 By contrast myFICO yields: Experian 709 Equifax 705 Transunion 704 We are moving to the San Francisco Bay Area (so expensive...) and are looking to qualify for mortgage above the conforming limits. The first lender we've spoken to used CBC and told us I would need a 700 to be approved. The major difference between the reports I can pull and the CBC report is a tax lien filed by the District of Columbia in 2005 (for the 1999 tax year). I had moved around a lot in the mid-2000s and didn't get the notice for this lien until 2010, when I paid it in full (around $3000). That lien doesn't show up in any of the reports I pull (from myFICO or from the the CRA websites). However, I have a copy of the CBC report, and it does show up there, with a LACT date of 01/2010. I guess that leaves me with two main questions: 1. Is there anything I can (realistically) do to convince CBC and/or the lender to discount this particular event? 2. Will other lenders use a report similar to the CBC report, such that no mortgage lender will view me as having a 700+ score? Any help on either of these questions very much appreciated.

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