FHFA Director Bill Pulte ordered the mortgage giants to start using VantageScore 4.0 in July. But adoption is a 'complex, technical and arcane' process that could drag into next year
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 for conforming loans
Consumer group claims FHFA's plan to pit VantageScore 4.0 against older FICO Classic score on Fannie, Freddie loans will make 'anti-competitive natures of the credit scoring market even worse'