Why More Lenders Choose VantageScore
Innovative technology allows us to bring you unmatched scoring consistency, accuracy and predictability.
VantageScore continues to represent a new standard of innovation in credit scoring.
Each model release introduces new technologies and analytics to generate unprecedented levels of consistency, accuracy and predictability.
Consistently Recognized by Federal Regulators
Regulatory recognition is proven by the thousands of lenders, including 7 of the top 10 financial institutions.
VantageScore is recognized the top federal regulators across all major credit categories:
Usage Is Deep and Mainstream
A recent study conducted by Oliver Wyman indicates that VantageScore usage spans all credit industries (except the mortgage market), and the model accounted for 12.3 billion of the credit scores used between July 2018 – June 2019.
Key Lenders and Institutions Using the VantageScore Model
Oliver Wyman’s study of VantageScore market adoption also includes the following findings:
- More than 2,500 unique users of VantageScore credit scores, including 2,200 financial institutions.
- Credit card issuers and banks and thrifts accounted for over half (52%) of all usage of VantageScore credit scores.
- Over 3 billion VantageScore credit scores have been provided to consumers to empower them to practice good credit health habits. Nationwide most consumers use VantageScore credit scores as a proxy for how a lender might interpret their creditworthiness.
- Nine of the 10 largest banks and 29 of the 100 largest credit unions used VantageScore credit scores in one or more lines of business.
Adoption in secondary capital markets:
- Major ratings agencies recognize and accept VantageScore in the ratings of securities (ABS)
- Secondary Capital Markets’ Most Sophisticated Institutional Investors
VantageScore is recognized by the top federal regulators across all major credit industries:
VantageScore regularly engages with the prudential financial regulators to educate them about our models, including the U.S. Treasury Department, Office of Comptroller of the Currency (OCC), the Federal Deposit Insurance Corporation (FDIC), Consumer Financial Protection Bureau (CFPB), and the Federal Reserve Board, among others. Regulatory recognition is further shown by the thousands of regulated lenders that use our models millions of times each day.
VantageScore models are also specifically used or referenced by a number of key financial regulators, including:
- Consumer Financial Protection Bureau (CFPB) – Federal Housing Finance Agency (FHFA) Mortgage Database
- 2018 Specifications for submitting Home Mortgage Disclosure Act (HMDA) data to the Federal Financial Institutions Examination Council (FFIEC)
The VantageScore model is also embedded in other major industry platforms:
- Mortgage Industry Standards Maintenance Organization (MISMO) 3
- Nationwide vendors providing software systems enabling lender/credit bureau communication
In 2014, the Federal Reserve Board begain accepting VantageScore data in its Capital Assessments and Stress Testing Report (FR Y-14M). Previously, FICO was the only credit scoring brand accepted in the report.
Research and Whitepapers
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