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
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
Survey shows most Americans are concerned that privatizing the mortgage giants might lead to higher mortgage rates, with Democrats and independents most likely to be worried
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
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
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
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