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The Mortgage Industry & VantageScore
Resource Center
In 2024, several government-sponsored enterprises (GSEs) adopted VantageScore 4.0, including:
Fannie Mae and Freddie Mac are set to require VantageScore 4.0 beginning in 2025.
Mortgage Migration Playbook
VantageScore Migration Playbook outlines how to implement VantageScore 4.0 for underwriting mortgages.
Impact Whitepaper
Impact of Requiring VantageScore 4.0 for Mortgage Whitepaper.
Mortgage FAQs
Frequently Asked Questions about VantageScore 4.0 for Mortgage.
FHFA's Credit Score Updates
Watch our latest webinar about FHFA's Credit Score Updates.
Digital Analytics Tools
Lenders gain timely data insights into the predictive and inclusionary power of VantageScore via a suite of free access tools: CreditGauge™, Inclusion360®, RiskRatio™ and MarketGain™.
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External Resources
FHFA's New Ruling and Mortgage Acceptance Timeline
Thanks to a landmark decision by the Federal Housing Finance Agency (FHFA), mortgage lenders that sell loans to either Fannie Mae or Freddie Mac (also known as the GSEs) will be required to use the VantageScore 4.0 model.
The FHFA's decision opens the door to millions more qualified applicants without lowering credit risk standards.
The result of the decision is a mortgage lending industry that serves consumers through the advancement of financial inclusion and supports mortgage lenders seeking to grow their portfolios.
What does it mean for the mortgage industry?
Mortgage Acceptance Timeline
The Federal Housing Finance Agency (FHFA) has approved the use of VantageScore 4.0 for lenders who sell loans to Fannie Mae or Freddie Mac (also known as the Government Sponsored Enterprises, or GSEs). This landmark decision enables lenders to take advantage of VantageScore's highly predictive and inclusive credit scoring model. Lenders nationwide are already realizing the benefits of VantageScore 4.0 for mortgage – start your pilot today!
Schedule a Mortgage Pilot
BMO Bank is a purpose-driven organization that is focused on leveling the playing field in underserved communities and creating the conditions for inclusive economic growth. VantageScore has provided us with the opportunity to provide fair and accurate credit scores to a broader population, and we look forward to leveraging VantageScore for mortgage lending in the future to help further close the housing gap.
Mark Shulman, Head of Consumer Lending, BMO Bank
We believe in driving financial inclusion and creating more equitable access to credit in the communities we serve. We've been using VantageScore 4.0 for our auto loans and credit cards and that's provided us with a new pathway to provide fair and accurate credit scores to a broader population, creating opportunities for us to lend credit safely and soundly to consumers historically left behind. We look forward to leveraging VantageScore 4.0 for mortgage lending in the future.
Richard Wada, Chief Lending Officer at Patelco Credit Union
Demographic Breakdown
Breakdown of Newly Scorable Consumers
More Potential Customers
VantageScore allows lenders to accurately assess approximately 33 million more consumers than with other commercially available models. More than 10 million of these newly scored consumers have scores of 620 and above and thus are potentially eligible for mortgages.
Strong Risk Management
VantageScore is at the cutting edge of predictive power thanks in part to its highly sophisticated model architecture and its innovative use of data. The VantageScore 4.0 model features the use of trended credit data and machine learning to drive predictive performance. VantageScore provides more precise decisioning enabling more mortgage application approvals while limiting defaults.
Close The Homeownership Gap
Home equity is the lifeblood for building wealth in the U.S. economy. With VantageScore, lenders can reach approximately 10 million more veteran and rural borrowers with credit scores above 620. By providing mortgage finance opportunities to these historically underserved but creditworthy borrowers, we can begin to address the widening homeownership gap in America.
More Consumer Friendly
VantageScore has been proud to pioneer the use of rent, telecom, and utility data and the exclusion of paid collection accounts. These consumer-friendly features also help lenders by giving them a more complete and fair picture of their customers' creditworthiness.
More Potential Customers
VantageScore allows lenders to accurately assess approximately 33 million more consumers than with other commercially available models. More than 10 million of these newly scored consumers have scores of 620 and above and thus are potentially eligible for mortgages.
Strong Risk Management
VantageScore is at the cutting edge of predictive power thanks in part to its highly sophisticated model architecture and its innovative use of data. The VantageScore 4.0 model features the use of trended credit data and machine learning to drive predictive performance. VantageScore provides more precise decisioning enabling more mortgage application approvals while limiting defaults.
Close The Homeownership Gap
Home equity is the lifeblood for building wealth in the U.S. economy. With VantageScore, lenders can reach approximately 10 million more veteran and rural borrowers with credit scores above 620. By providing mortgage finance opportunities to these historically underserved but creditworthy borrowers, we can begin to address the widening homeownership gap in America.
More Consumer Friendly
VantageScore has been proud to pioneer the use of rent, telecom, and utility data and the exclusion of paid collection accounts. These consumer-friendly features also help lenders by giving them a more complete and fair picture of their customers' creditworthiness.
Portfolio Management
VantageScore credit scores are effective tools for monitoring the ongoing risk of mortgage portfolios.
Mortgage Backed Security Analysis
The VantageScore model is often used in loan-level valuation analyses for previously issued mortgage-backed securities.