2/07 screwed up myFICO reports
Wednesday, January 24, 2007
myFICO reports are still screwed up and reporting INCORRECT 0% balance/limit ratio on Equifax report
Since I didn’t hear back from Fair Isaac, I finally ordered my Equifax report and the B/L ratio is listed, BUT as negative factor with 0%—don’t I wish.
It’s also the 4th negative factor when it should be the FIRST and most important factor. This is the NEW format with the additional two positive factors listed.
And, while I looked at the report, they are still not reporting the paid Nelnet student loan and the mortgage, my oldest and most valuable accounts.
So it seems that Fair Isaac is having trouble fixing these bugs, how hard can it be?
Please let me know if you see any publications about this scoring bug elsewhere. I couldn’t possibly be the only person who actually LOOKS at the reports. I found nothing doing a couple google searches.
2003 Suit (appealed, Experian filed credit reports on PACER) • Fair Isaac - credit scoring fraudware • 2/07 screwed up myFICO reports • (2) Comments • Permalink
Tuesday, January 23, 2007
Update on the FICO score malfunction
I had e-mailed their Barry Paperno yesterday about the FICO malfunction and per his request, I got him my client’s info so he could look into that bizarre score and the score factor problems.
Didn’t hear back from Barry yet.
My client had a headache today.
There might be some people at Fair Isaac with headaches too.
The malfunction appears to be related to their new ** 12 ** score factors for the 3 reports. The myFICO.com site is back to its “regular” look with all the products after ONLY offering the FICO reports for a while, with no Equifax monitoring, no Orman kit. I wonder if the reports are back to the old format too.
2003 Suit (appealed, Experian filed credit reports on PACER) • Fair Isaac - credit scoring fraudware • 2/07 screwed up myFICO reports • (0) Comments • Permalink
Monday, January 22, 2007
MAJOR FICO score software bug - check your score factors!
The Equifax B/L ratio shows as 0% (actually is over 90%) on two client reports ordered today and yesterday and on one Trans Union myFICO report a student loan is listed as having been 60 days delinquent, but there is NO late payment on the report.
Additionally, the scores make NO sense, something got really screwed up at Fair Isaac.
Also, the ORDER of the factors is completely different, the bankruptcy used to be negative score factor #1, now it’s #4.
The good news is that ALL reports now contain 4 negative factors and for higher scores we also get 1 or 2 ADDITIONAL positive factors. However, as we’re in the middle of this major MALFUNCTION right now, you can’t rely on anything.
And that’s really bad for my clients who just applied for a mortgage.
I hope that eventually complete disclosure of the scoring algorithm and monitoring for defects by regulators who don’t just work for the bankers will ensure that scores make at least a little bit of sense.
Unfortunately, for now we need some LAWYERS to sue Fair Isaac on behalf of the many people who suffer damages due to these bizarre reports and scores.
Many THOUSANDS of totally clueless QVC watchers just ordered the new Suze Orman kit and they won’t even notice anything wrong.
I’ll be posting some the actual score factors and a more detailed description of the problems later. And I’m sending this URL to Fair Isaac’s Barry Paperno. Maybe they can fix this soon.
2003 Suit (appealed, Experian filed credit reports on PACER) • Fair Isaac - credit scoring fraudware • 2/07 screwed up myFICO reports • (0) Comments • Permalink
