While questions remain about details of the new policy, FHFA Director Bill Pulte says mortgage lenders must still use 'tri-merge' process to obtain scores from all 3 major credit bureaus
Company puts heat on regulators to stick to 2025 timetable for requiring lenders working with Fannie and Freddie to use VantageScore 4.0; delays would impact 'creditworthy people of color'
The plan to move to a bi-merge process allowing lenders to use 2, instead of 3, credit reports was announced last October by FHFA, Fannie Mae and Freddie Mac's federal regulator
Regulators order mortgage giants to eliminate upfront fees on many purchase loans in order to help first-time homebuyers of limited means, the Federal Housing Finance Agency said Monday