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