VantageScore 4.0 will now be accepted by Fannie Mae and Freddie Mac
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
Fair Isaac's Mortgage Direct License Program is aimed at eliminating mark-ups charged by credit reporting agencies Equifax, Experian and TransUnion — backers of competing VantageScore
Lenders to get historical FICO Score 10T data within weeks, setting the stage for the eventual retirement of FICO Classic score and competition with VantageScore 4.0
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
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
Lenders won't be required to use the more inclusive FICO Score 10T and VantageScore 4.0 scoring models before next year, but several are already using them to expand the pool of borrowers