Tagged: Credit Score

The rollout gives brokers and correspondent lenders another major outlet for VantageScore 4.0

With an announcement reportedly possible, the fight over two-bureau versus tri-merge credit reports is putting cost, borrower outcomes, and lender choice in the spotlight

The wholesale lender removes an adjustment for new locks while Fannie and Freddie align pricing between VantageScore 4.0 and Classic FICO

More than 1,100 mortgage lenders have enabled the alternative score, but TransUnion tells NMP that “adoption” includes uses beyond loan originations

CHLA sees new Fannie and Freddie score disclosures as a first step toward more competition, while lenders are already finding different borrower outcomes under today's models

After four months of testing, Rocket will make VantageScore 4.0 its preferred model for eligible retail loans while keeping both scoring options available to brokers

Place-based market risk can produce dramatically different default outcomes among borrowers with nearly identical credit profiles

Lenders will gain competing modern scoring options, but borrowers may not see both offered everywhere

Pulte’s comments could signal either fewer bureau reports or a portable report borrowers could share among lenders, but FHFA has not clarified which approach it is studying

Pulte removes 50-lender cap while considering bi-merge and single-bureau reports as additional ways to reduce mortgage costs