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
FHFA Director Bill Pulte is reportedly “on thin ice” with several Trump administration officials over lack of communication on new Fannie and Freddie credit score policy. Continue reading
Mortgage giants allegedly weren’t informed in advance that they’d be required to accept VantageScore 4.0, and lenders have lots of questions about how the new process will work. Continue reading
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
Plan to require lenders working with Fannie and Freddie to use FICO Score 10 T and VantageScore 4.0 models by Q4 2025 has been dropped, with new implementation date “TBD.” Continue reading
Release of historical credit scores on tens of millions of loans will help lenders prepare for transition to VantageScore 4.0 next year. Release of FICO Score 10 T data next on deck. Continue reading