Tag Archives: FICO

Fannie, Freddie regulator vows to protect consumers from rising credit report fees

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FHFA Director Bill Pulte’s tweet dented Equifax, Experian and TransUnion shares as the MBA renewed calls to do away with tri-merge reporting. Continue reading →

Cotality and Ascend licensed to generate FICO scores for lenders

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Fair Isaac’s Mortgage Direct License Program is aimed at eliminating mark-ups charged by credit reporting agencies Equifax, Experian and TransUnion — backers of competing VantageScore. Continue reading →

Mortgage giants ‘very close’ to accepting new FICO score

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FHFA Director Bill Pulte says his agency is currently reviewing a potential deal with Fair Isaac to allow lenders to use the more inclusive FICO Score 10 T when submitting loans to Fannie Mae and Freddie Mac. Continue reading →

Why Fannie and Freddie still won’t accept more inclusive credit score

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FHFA Director Bill Pulte ordered the mortgage giants to start using more inclusive VantageScore 4.0 in July. But adoption is a “complex, technical and arcane” process that could drag into next year. Continue reading →

Equifax cuts VantageScore 4.0 mortgage credit scores to $4.50

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Once Fannie Mae and Freddie Mac are ready to start accepting VantageScore 4.0, the algorithm will go head-to-head with the less inclusive FICO Classic score. Continue reading →

Credit bureaus slam plan to cut them out of FICO score pricing

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Lending industry groups and FHFA director Bill Pulte welcomed Fair Isaac’s new direct license pricing as a useful first step, but said more reforms and competition are needed. Continue reading →

Let mortgage lenders pull one credit score, trade group says

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The tri-merge system is “an anachronism from the days when there were significant disparities in coverage by the credit bureaus,” MBA says in advocating new approach. Continue reading →

Backers of rival mortgage credit scores wage public relations war

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As new scoring models by Fair Isaac and VantageScore vie for acceptance by Fannie Mae and Freddie Mac, claims and counterclaims fly. In the meantime, mortgage giants are stuck with FICO Classic. Continue reading →

Fannie Mae and Freddie Mac are not accepting VantageScore 4.0

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Once selling guides are updated, lenders will have the option of using either VantageScore 4.0 or the Classic FICO scoring model, but FICO Score 10 T remains in limbo, FHFA says. Continue reading →

Fannie, Freddie ordered to accept new VantageScore 4.0 credit score

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While questions remain about the new policy, FHFA Director Bill Pulte says lenders must still use “tri-merge” process to obtain scores from all three major credit bureaus. Continue reading →