Lenders are using VantageScore more and more every year as industries adopt to the new credit scoring system. From July 1, 2018 to June 30, 2019, there was a 19% increase in the number of scores since the previous year (according to the 2019 VantageScore Market Adoption Study).

While financial institutions in the top lending categories (credit card issuers, auto lenders, mortgage lenders, credit unions, and banks) represent the largest amount of VantageScore users, VantageScore is also widely used by non-financial institutions such as tenant screenings, consumer websites, and government entities.

Fitch Ratings accepts loans based on VantageScore’s accurate credit scores, and has incorporated the VantageScore credit scoring model into ResiLogic 2.1, Fitch’s model for credit risk analysis and residential mortgage loans.

Standard & Poor’s, another of the Big Three Credit Ranking Agencies, includes the VantageScore model when submitting portfolios of residential mortgage loans for rating purposes.

Many major industry-platform standards have the VantageScore model embedded, including:

• MISMO 3
• Consumer Financial Protection Bureau (CFPB) – Federal Housing Finance Agency (FHFA) mortgage database – VantageScore is the only model used in the mortgage database
• Nationwide Mortgage Licensing System & Registry (NMLS) – VantageScore is the only model used in the system
• Department of Housing and Urban Development (HUD)
• Federal Financial Institutions Examination Council (FFIEC)
• Federal Housing Administration (FHA)
• Federal Reserve Board (FRB)
• Federal Trade Commission (FTC)
• National Credit Union Administration (NCUA)
• Office of the Comptroller of Currency (OCC)
• Securities and Exchange Commission (SEC)
• 2018 specifications for submitting Home Mortgage Disclosure Act (HMDA) data to the Federal Financial Institutions Examination Council (FFIEC), under the auspices of CFPB
• All major vendors who provide software systems for lenders and credit bureaus to communicate