Asked by: Doralina Fornsasked in category: General Last Updated: 1st January, 2020
Who uses fico8?
Also know, who uses FICO score 8?
|Most widely used version|
|FICO® Score 8||FICO® Score 8||FICO® Score 8|
|Versions used in auto lending|
|FICO® Auto Score 8 FICO® Auto Score 2||FICO® Auto Score 8 FICO® Auto Score 5||FICO® Auto Score 8 FICO® Auto Score 4|
Subsequently, question is, who uses FICO score? FICO® scores are the credit scores most lenders use to determine your credit risk and the interest rate you will be charged. You have three FICO® scores, one for each of the three credit bureaus – Experian, TransUnion and Equifax. Each score is based on information the credit bureau keeps on file about you.
Correspondingly, who uses FICO score 2?
The vast majority of home mortgage lenders issuing new mortgage loans and refinancing existing mortgages use specific versions of the standard FICO® Score, with a score range of 300 to 850, when evaluating mortgage applications: FICO® Score 2 based on Experian data (also known as Experian/Fair Isaac Risk Model v2)
Do any mortgage companies use FICO score 8?
FICO 8 is a credit-scoring system released in 2009. Since then, only a few lenders have adopted it. The vast majority of lenders still rely on FICO 2, 4 and 5 scores, which are all part of a larger report mortgage lenders can obtain called the residential mortgage credit report (RMCR).