NEW YORK–Four years after the Federal Housing Finance Agency approved FICO Score 10T and VantageScore 4.0, a panel convened at the Mortgage Bankers Association’s Secondary and Capital Markets conference to discuss progress on the credit score modernization effort.
Tag: VAntageScore 4.0
MBA Comments on FHFA’s Credit Scoring Implementation Plan
The Federal Housing Finance Agency yesterday announced updates to its implementation plan for the GSEs’ adoption of FICO 10T and VantageScore 4.0 and bi-merge reporting requirements. Mortgage Bankers Association President and CEO Bob Broeksmit, CMB, issued the following comments.
FHFA Announces Process for Implementing New Credit Score Requirements; MBA Encourages Members to Complete Survey
The Federal Housing Finance Agency recently requested stakeholder input as Fannie Mae and Freddie Mac replace the Classic FICO credit score model with the FICO 10T and the VantageScore 4.0 credit score models, and transition from requiring three credit reports to requiring two credit reports for single-family loan acquisitions.