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'
The plan to move to a bi-merge process allowing lenders to use 2, instead of 3, credit reports was announced last October by FHFA, Fannie Mae and Freddie Mac's federal regulator
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
Opinion
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