What does EX-F2 like regarding loan history?

3 years ago

Sun Oct 03, 2021 5:13 pm

Slabenstein

OutlierDinosaurs are patriots

Slabenstein has passed the 24 month threshold and is completely inquiry free!
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Level24 Last INQThursday, September 1, 2022 Gardening For2 years, 9 days, 6 hours, and 11 minutes Next Level in20 days, 17 hours, and 49 minutes on October 1st INQ 1yr onFriday, September 1, 2023 INQ 1yr reached1 year, 9 days, 6 hours, and 11 minutes ago INQ 2yr onSunday, September 1, 2024 INQ 2yr reached9 days, 6 hours, and 11 minutes ago Goal24 months Goal DateSunday, September 1, 2024 Goal Achieved9 days, 6 hours, and 11 minutes ago

I know the mortgage scores should like closed loans as opposed to open ones, b/c they like $0 balances and an open loan doesn't have a $0 balance. I'm not surprised that EX2 didn't react to balance-to-loan ratio dropping below 9.5%, since that's a score-boosting technique that takes advantage of a metric that's only present in FICO8 & 9.

3 years ago

Mon Oct 04, 2021 5:55 am

Birdman

Primer AuthorCo-Founder

Birdman has been gardening for over 2 years.

Level30 Last INQWednesday, March 2, 2022 Gardening For2 years, 6 months, 8 days, 6 hours, and 11 minutes Next Level in21 days, 17 hours, and 49 minutes on October 2nd INQ 1yr onThursday, March 2, 2023 INQ 1yr reached1 year, 6 months, 8 days, 6 hours, and 11 minutes ago INQ 2yr onSaturday, March 2, 2024 INQ 2yr reached6 months, 8 days, 6 hours, and 11 minutes ago

Yeah the mortgage scores don’t really care about loan utilization. There are isolated exceptions, but for the most part they don’t care. there has been a report of a super old loan being closed costing a few points from a reputable source, but again those are very far and few between. I believe that person had a pretty thin profile.