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#2185181 - 07/12/18 06:45 PM What scoring model to report
Dan Persfull Offline
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Dan Persfull
Joined: Aug 2002
Posts: 47,532
Bloomington, IN
Applicant # 2's Beacon 5.0 score is 757.

Applicant #2's FICO Classic 04 score is 757.

Credit score used for the loan decision is 757 because it is the lowest mid score between the applicants.

Which scoring system is reported ?

Code 1 - Beacon 5.0
Code 3 - FICO Classic 04
Code 1 & Code 3
Code 7 - more than one credit scoring model

My choice would be Code 7.

What say you?
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The opinions expressed are mine and they are not to be taken as legal advice.

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#2185198 - 07/12/18 07:35 PM Re: What scoring model to report Dan Persfull
Dan Persfull Offline
10K Club
Dan Persfull
Joined: Aug 2002
Posts: 47,532
Bloomington, IN
Explored deeper and the "system" chose the Equifax Beacon 5.0 as the repository used so that will be the one I will report.
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The opinions expressed are mine and they are not to be taken as legal advice.

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#2185373 - 07/13/18 07:24 PM Re: What scoring model to report Dan Persfull
RSeries Offline
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Joined: Apr 2018
Posts: 6
I would say you have the options to choose Code 1 - Beacon 5.0 or Code 3 - FICO Classic 04

I believe the only time you will use code 7 is if you averaged two or more scores as your credit score for decision making.
Last edited by RSeries; 07/13/18 07:30 PM.
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