Interpreting Data Confidence

Medium Confidence

  • Mortgage

    • The balance and term data are pulled from the credit bureau

    • The P&I monthly payment is a Sora calculation that leverages multiple data points (loan origination date, prevailing interest rates, property tax rates, typical insurance premiums) to exclude insurance and taxes 

    • The implied P&I monthly payment determines the interest rate 

  • Credit Card

    • The credit limit, balance, monthly payment, and interest rate are pulled from the credit bureau

    • If high confidence, the balance is pulled daily from the financial institution

    • Sora does not know if the client is carrying a revolving balance month-to-month

    • Users can click the edit icon on the tradeline in Sora to see all the data pulled

  • Student Loans

    • Sora pulls in Federal Loans based on the origination date and the prevailing rate at the time 

    • For Private Student Loans, Sora calculates an implied interest rate based on balance outstanding and monthly payment pulled from the credit bureau. Sora assumes 10 years which is the most common length for loan length.

  • Auto Loan

    • The balance and term data are pulled from the credit bureau

    • Sora runs a calculation to calculate the implied interest rate taking into account potential auto insurance premiums as part of the payment

Low Confidence

  • Mortgage

    • Sora pulls partial data from the credit bureau and public property sources.

  • HELOC

    • Sora does not pull in the exact interest rate for HELOCs

    • Sora defaults all HELOCs to Prime + 1% which applies to 80%+ HELOCs 

  • Auto Loan with N/A rate

    • Sora classifies this auto loan as a lease 

Credit Bureau

  • Equifax: Sora leverages soft credit pulls from Equifax at time of client onboarding and for data refreshes. We do not store SSN.