A FICO® credit score is a performance objective score. The performance objective of the credit score is the “likelihood of a consumer to have a 90 day late on their credit report in a 24 month period”.

Here are the 20 Reason Codes (or Score Factor) that can show up on a mortgage credit report.

  • Amount owed on accounts is too high
  • Amount owed on delinquent accounts
  • Amount owed on revolving accounts is too high
  • Amount past due on accounts
  • Derogatory public record or collection filed
  • Lack of recent revolving account information
  • Length of time accounts have been established
  • Length of time revolving accounts have
  • been established
  • Level of delinquency on accounts
  • Number of accounts with delinquency
  • Serious delinquency
  • Proportion of balances to credit limits on bank/national revolving or other revolving accounts is too high
  • Serious delinquency, and public record or collection filed
  • Time since delinquency is too recent or unknown
  • Time since derogatory public record or collection is too short
  • Time since recent account opening is too short
  • Too few accounts currently paid as agreed
  • Too many accounts recently opened
  • Too many accounts with balances
  • Too many inquires in the last 12 months
Land Home Financial Services, Inc. (also known as "Land Home" or "Land Home Financial") is an Equal Housing Opportunity Lender. Call your loan officer for details. Rates, Program, Fees, and Guidelines are subject to change without notice. Restrictions apply. Not a commitment to lend. The information, loan option scenarios, and/or guidelines are for illustrative/marketing purposes only and will vary depending on circumstances, terms may not apply to every situation. Land Home only conducts business in states we are approved to. Land Home Financial Services, Inc. 22525 SE 64th Place, Suite 220, Issaquah, WA 98027. Washington Consumer Loan Branch Office License #CL-89331. Corp. NMLS #1796. www.nmlsconsumeraccess.org. This site is not authorized by the New York State Department of Financial Services.  No mortgage loan applications for properties in the state of New York will be accepted through this site.