FHFA Approves VantageScore? 4.0 for Use in GSE Mortgage Lending

FHFA Approves VantageScore? 4.0 for Use in GSE Mortgage Lending

VantageScore? VantageScore?

VantageScore?

A Higher Level of Confidence?

发布日期: 2022年10月25日
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The Federal Housing Finance Agency (FHFA) announced it will allow mortgage lenders to use VantageScore 4.0 for loans eligible for sale to Fannie Mae or Freddie Mac.??

A WIN-WIN FOR ALL?

FHFA’s decision ushers in a new era for predictive performance and financial inclusion for the mortgage market. Because the VantageScore 4.0 scoring model is more inclusive, lenders expand opportunities to provide financial inclusion to borrowers that legacy scoring models ignore. In turn, creditworthy consumers who’ve historically been unable to receive a credit score, will now have more options.?

For mortgage companies and lenders who want to convert to VantageScore, they can get started now.?

VantageScore expands the scorable population through a combination of analytically and empirically driven innovations that will now allow approximately 37 million newly scoreable consumers have more equitable access to mortgages.??

To learn more about what this decision means to you, read our blog post that explains the impact.?

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