FHFA Director Bill Pulte's social media post dented Equifax, Experian and TransUnion shares as the Mortgage Bankers Association renewed calls to do away with tri-merge reporting
FHFA Director Bill Pulte says his agency is reviewing a deal with Fair Isaac to allow lenders to use the more inclusive FICO Score 10 T when selling loans to Fannie Mae and Freddie Mac
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
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
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'
As new scoring models by Fair Isaac and VantageScore vie for acceptance by Fannie Mae and Freddie Mac, claims and counterclaims fly. For now, mortgage giants are stuck with FICO Classic
FHFA Director Bill Pulte is reportedly 'on thin ice' with several Trump administration officials over lack of communication on new Fannie Mae and Freddie Mac credit score policy
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