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
Plan to require lenders working with Fannie and Freddie to use FICO Score 10 T and VantageScore 4.0 models by Q4 2025 has been dropped, with new implementation date 'TBD'
Release of historical credit scores on tens of millions of loans will help lenders prepare for transition to VantageScore 4.0 next year. Release of FICO Score 10 T data next on deck
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
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'
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