Fico Scores Vs. Fako Scores – The real story
This is a very common subject we cover. Client: “I pulled my credit report online and the score my loan officer pulled up was completely different?” Yes, there are multiple credit scoring formulas. The industry standard remains FICO but consumers are no longer given access to all 3 FICO scores (experian, equifax & transunion). Remember, if you are in the market for a mortgage or any other loan product you can always review the details of your report by going to www.annualcreditreport.com but remember, only your lender can access all 3 fico scores. Start the process early so if you find that your FICO scores are too low you can quickly work on getting things up to par.