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Vantagescore Solutions could be your alternative to FICO scores

Date: August 28, 2019

On Tuesday (8/12/19) the Federal Housing Finance Agency (FHFA) promulgated a final rule which addresses credit score competition in the mortgage market. The new rule permits all model developers to participate in an application process whereby new credit score models will be assessed by Fannie Mae and Freddie Mac across a number of different parameters such as predictiveness, inclusivity and other potential markers.

On Thursday (8/22/19),CNBC interviewed VantageScore President and CEO Barrett Burns regarding the FHFA’s reversal of its previously unfavorable (to VantageScore) rule on credit score competition for Fannie and Freddie Mac.