Credit scores according to Lendingtree (not Lending Tree)
Lendingtree CEO Doug Lebda and Credit Score Myths 4 and 12 #Myth4 #n512 #Myth12 #n1136
| By Greg Fisher
There are credit scores, and then there are important credit scores.
Three individual credit score models are used in the mortgage lending industry. The number is three because that industry has three sources of consumer payment history in the form of credit reports: Equifax, Experian and Transunion. The highest credit score in mortgage lending is 844, not 850. #Myth12
And, there is nothing special about a 30 percent utilization ratio. #Myth4
Here is something that happened beginning in 2015.
FROM: Greg Fisher, greg@truthandfalsity.com
TO: Michelle Singletary, syndicated personal finance columnist, Washington Post
CC: Aaron Blake, reporter, Washington Post: Aaron Blake, reporter, Washington Post; Ken Harney; Patrick Brown, Western Journal, CEO, Liftable Media
DATE: Friday, June 29, 2018, 6:00 PM
SUBJECT: credit score, The Real, Big Credit Score; US history
Dear Ms. Singletary:
I am in the media, on a deadline and writing about you. The deadline is tomorrow.
You wrote that you have an 850 credit in FICO 8 and FICO 9 models.
Singletary, M. (2018, June 28). Perspective | How I got a perfect 850 credit score. Retrieved June 29, 2018, from https://www.washingtonpost.com/news/get-there/wp/2018/06/28/how-i-got-a-perfect-850-credit-score/
OK -- fair enough. But what about The Real, Big Credit Score? #TheRealBigCreditScore
You will never get an 850 by that measure. Last year, your colleague Kenneth Harney called it part of an outdated system. He also wrote, "Some quick background: FICO scores, which range from 300 to 850... " #Myth12
Staff Reports. (2017, August 12). Kenneth R. Harney: Fannie, Freddie stick with outdated credit scoring. Retrieved June 29, 2018, from https://newsok.com/article/5559340/kenneth-r-harney-fannie-freddie-stick-with-outdated-credit-scoring
See Credit Score Myth 12 (some slow background).
I think that people writing about high or perfect credit scores is a phenomenon that begs questions. Despite your proclaimed modesty (and real humility #Myth4 #Experian #1605y), you seem larger than life. Let's face it: 'The Washington Post' are important words (Watergate and all that). Trust, honor, truth, etc. There is substantial power in admitting your errors.
There are two kinds of writers: One (your kind) is those whose email address is apparent. That is part of The Contact Game. If you want me to find something blatantly false, I will. #TheContactGame
---------- Forwarded message ----------
FROM: Greg Fisher, greg@truthandfalsity.com
TO: Patrick Brown, Western Journal, CEO, Liftable Media
CC: Aaron Blake, reporter, Washington Post
DATE: Thursday, June 28, 2018, 3:03 PM
SUBJECT: error, correction, history, N. America, US, house
Dear Mr. Brown:
I am in the media, on a deadline and writing about you. The deadline is tomorrow.
Joe Saunders wrote, "And no matter what kind of patina House Speaker Nancy Pelosi tried to put on it, there’s no blaming Trump for this kind of vitriol." #falsity
Saunders, J. (2018, June 27). Lib Journalist: Conservatives Get Ready, We're Sending Bombs Soon. Retrieved June 28, 2018, from https://www.westernjournal.com/ct/lib-journalist-conservatives-get-ready-were-sending-bombs-soon/
That is false. Pelosi is not the speaker.
A Washington Post story dated the same day contained an error, too. The Post's reporter's byline links to his email address. Yours does not.
That is the Contact Game. You lose a point. Please do not publish anything else before replying directly to this message. Please reply today. #TheContactGame
I am sick and tired of false information.
--
Greg Fisher
Truth and Falsity
truthandfalsity.com
The Credit Scoring Site
creditscoring.com
PO Box 342
Dayton, Ohio 45409-0342
mobile/text 937-681-3224
--
Greg Fisher
Truth and Falsity
truthandfalsity.com
The Credit Scoring Site
creditscoring.com
PO Box 342
Dayton, Ohio 45409-0342
mobile/text 937-681-3224
Singletary replied to another message in 2018.
FROM: Greg Fisher, greg@truthandfalsity.com
TO: Kenneth R. Harney, syndicated columnist [@gmail.com]; Kenneth R. Harney, syndicated columnist [@earhlink.net]
CC: Matthew Sauer, Sarasota Herald-Tribune; Megan Greuling, Lendingtree
DATE: February 24, 2019, 2:50 PM
SUBJECT: Re: Fwd: credit score, The Real, Big Credit Score; US history
I am in the media, on a deadline and writing about you, Lending Tree and The Sarasota Herald-Tribune; the deadline is tomorrow.
Today, you wrote
Lending Tree is an online platform that allows shoppers to obtain competing offers from multiple lenders, based on credit profiles, income, down payment and other factors. Roughly 500 mortgage companies and banks participate in the network. FICO scores assess applicant risk and run from 300 to 850.
That is Credit Score Myth 12. Credit scores in mortgage lending do not go to 850. I looked into it. #Myth12
Who is your source? Who is your editor?
--
Greg Fisher
Truth and Falsity
truthandfalsity.com
The Credit Scoring Site
creditscoring.com
PO Box 342
Dayton, Ohio 45409-0342
mobile/text 937-681-3224
creditscoring.com.vcf
FROM: Greuling, Megan
TO: Greg Fisher [greg@truthandfalsity.com]
DATE: February 24, 2019, 4:53 PM
SUBJECT: Re: credit score, The Real, Big Credit Score; US history
What news organization are you writing for?
For your reference, LendingTree does not have a space between “lending” and “tree”.
According to FICO, FICO Score 8 has a range of 300 to 850, although just 1.5% of scorable Americans have reached the 850 mark (see Michelle Singletar’s[SIC] story about someone who has an 850 score).
https://blog.myfico.com/whats-a-good-credit-score-range/
Thanks,
Megan
2015 - Credit Score Myth 4 #Myth4 #n1136
FROM: Greg Fisher, greg@truthandfalsity.com
TO: Megan Greuling, Lendingtree #n1136; Lendingtree #n1136
CC: Jeff Bezos, Washington Post Writers Group; Kenneth R. Harney, syndicated columnist [@gmail.com]; Matthew Sauer, Sarasota Herald-Tribune; Kirk Davis, CEO since 2014, Gatehouse Media [via G. Sheehan]; Nikita Pettis, Lendingtree #n1136; Walter Suskind [@cfpb.gov]; William Lansing, CEO, Fair Isaac [via K. Blatt]; Director, U.S. Consumer Financial Protection Bureau; Brian Cassin, Experian #n1502
DATE: February 25, 2019, 2:59 PM
SUBJECT: Re: credit score, The Real, Big Credit Score; US history
Megan Greuling, Lendingtree
Charlotte
I did not say that I am writing for a news organization, Ms. Greuling. The line about a deadline is mockery, referring to people in public relations whose outgoing voicemail messages say If you're in the media and on a deadline, call my cell phone! #OhBuhrother - #TheContactGame - #mocketing - #1502bb - #Myth4
Who at CFPB said between 10 and 30?
See this message and your response in the directory creditscoring.com/interaction/2015/02 after I publish it. Spell my name FiShEr.
Reconsider. #fingerflappingtsp - #megalomania #NC
FROM: Greuling, Megan
TO: greg@truthandfalsity.com
CC: Pettis, Nikita [@lendingtree.com]
DATE: Thursday, February 19, 2015 at 3:20 PM
SUBJECT: Subject: FW: Experian, credit score, utilization ratio
Hi Greg! Getting some more “proof” for you, but in short, the FICO algorithm doesn't penalize you if your ratio is under 30%. Keeping it under 10% is even better if you're trying to boost your score quickly.
The CFPB has said, optimally, that a person should use only between 10 percent and 30 percent of the credit limit. Credit agencies are looking for people who utilize their credit responsibly and don’t “give in” the temptations of overspending, which helps them to evaluate their overall risk. By showing responsible spending behavior of not using more credit although it’s available, the less riskier a person is. Agencies tend to view anything higher than that 30 percent level as a riskier credit user.
Credit scoring systems are proprietary, and FICO doesn't divulge much about its algorithms. Those who want to predict how certain actions effect a credit rating tend to study credit scores of many individuals, note the other characteristics of their credit reports, and try to determine how an action (like opening a new account) affects the score. Sort of reverse engineering FICO's calculations. That's why there's a ton of anecdotal evidence about how action A effects score B. but nothing quantifiable. The proprietary nature of credit scoring models and the private nature of people's credit data also make it hard to study these things.
FROM: Greg Fisher [greg@truthandfalsity.com]
TO: Greuling, Megan
CC: Pettis, Nikita [@lendingtree.com]
DATE: Thursday, February 19, 2015 at 3:01 PM
SUBJECT: Experian, credit score, utilization ratio
What’s so special about 30%?
https://twitter.com/LendingTree/status/516595781961142272
--
Greg Fisher
Truth and Falsity
truthandfalsity.com
Page A2
pagea2.com
The Credit Scoring Site
creditscoring.com
PO Box 342
Dayton, Ohio 45409-0342
937-681-3224
.@LendingTree Funny puppet, but what's so special about 30%? #Myth4 #2experts You can find your way back. #1502bb https://t.co/l7QCstwpkj
— Greg Fisher ?? (@creditscoring) February 19, 2015
See other information about Kristine Snyder, formerly of Experian. #Myth4 #1508b
FROM: Megan Greuling
TO: Greg Fisher
DATE: Thursday, February 25, 2019, 6:01 PM
SUBJECT: Subject: Re: credit score, The Real, Big Credit Score; US history
Hi Greg,
I saw you called twice. My cell phone is [number] if you would like to get on the phone.
Thanks,
Megan
FROM: Megan Greuling
TO: Greg Fisher
DATE: Thursday, February 26, 2019, 11:34 AM
SUBJECT: Re: credit score, The Real, Big Credit Score; US history
Hi Greg,
I didn’t hear back from you yesterday, but would you still like to speak on the phone? Happy to answer any questions you have, but I was able to verify that it IS in fact possible for consumers to have an 850 credit score, albeit rare and difficult to achieve. The good news is that as long as consumers have a credit score of 760 or better, they will typically be able to get the best possible deals in regard to loans and credit (depending on the lender and credit risk analyses) and that there is likely very little additional advantage to a perfect 850 compared to 760, 800, 820, 840, etc.
I noticed the data on your site for the #12 credit myth is a bit outdated (from 2012), perhaps it should be refreshed to ensure accuracy?
Also, I am a bit perplexed as to why you were mocking PR professionals in an email to me or why you were using hashtags in an email. No matter the case, please let me know if I can help. If you’d like to speak over the phone, please use my cell phone as my office line is experiencing some issues.
Thank you,
Megan Greuling
LendingTree | Director, PR & Communications
O. [office number]
C. [mobile number]
[email address]
FROM: Greg Fisher, creditscoring.com truthandfalsity.com
TO: Megan Greuling, Lendingtree #n1136
CC: William Lansing, CEO, Fair Isaac; Sarasota Herald-Tribune editor; Rod Griffin, public education director, Experian; Kenneth R. Harney, syndicated columnist [@gmail.com>; Director, U.S. Consumer Financial Protection Bureau [@consumerfinance.gov]
DATE: Thursday, February 26, 2019, 1:34 PM
SUBJECT: Re: credit score, The Real, Big Credit Score; US history
Megan Greuling, Lendingtree
Charlotte
Ms. Greuling:
The only reason I called was to confirm that you received my message. #n512
An Experian document from last year indicates that the highest credit score for Fico Score 2 is (still) 844. Is that recent enough?
If you are happy about my questions, then what about the last one (regarding the United States government)?
--
Greg Fisher
Truth and Falsity
truthandfalsity.com
The Credit Scoring Site
creditscoring.com
PO Box 342
Dayton, Ohio 45409-0342
mobile/text 937-681-3224
creditscoring.com.vcf
Follow the activity of Item #1502bb using that hashtag.
