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
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
TurboTenant’s integration of Rent Butter will embed what the companies are calling “near-instant” credit and background checks into the application process, removing it as a secondary, stand-alone action in the application ecosystem. Continue reading
RentSpree is working with TransUnion to improve how leasing agents and property managers determine a lease applicant’s background. 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
Integrations helped the income and employment data provider grow its mortgage customer base and attract backing from Rockefeller Asset Management’s Fintech Innovation Fund. Continue reading
Fannie and Freddie’s federal regulator wants lenders to synchronize adoption of bi-merge credit reporting with more inclusive FICO Score 10T and VantageScore 4.0 scoring models. Continue reading