The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: patron_anejo_por_favor who started this subject	12/18/2003 10:34:44 PM
From: Elroy Jetson	Read Replies (1) of 306849

Credit Scores, two very different perspectives from Fair Isaac and Experian after I ordered my Credit Score for fun. Equifax uses the FICO score by Fair Isaac which has been doing credit analysis since 1956. They report a score of 834 on a range of 350-850, which is in the top 2%. In particular they note: _ no late payments _ a long credit history _ a low proportion of balances to credit limits. On the other hand, Experian (ex-TRW, now owned by the British Mail-Order firm GUS PLC) has created their own model. They report a score of just 764 on a range of 340-820, which is only in the top 26%. They suggest I can become a better credit risk by: _ obtaining an automobile loan _ borrowing against my house. Just imagine how high my Experian credit score would be if I took out a 125% home equity loan from Ditech and traded in my car for a leased vehicle! I wonder if this a peculiar British thing or perhaps Experian uses an un-tested credit scoring model which didn't exist during the last economic down-turn.

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