Last week, National Mortgage News published a story reporting that the Community Home Lenders of America (CHLA) have asked the FHFA to prioritize VantageScore 4.0 implementation for GSE-funded mortgages.

CHLA argues that the pending addition of updated credit scores at Fannie Mae and Freddie Mac could be more manageable if done one at a time and that process should start with VantageScore 4.0.

“The newer credit score models Freddie and Fannie are moving toward, including VantageScore, were designed to incorporate broader ranges of borrower data than the older model currently used, potentially qualifying a more expansive group of borrowers for mortgages and homeownership,” reports NMN.

Read more here: FHFA should add VantageScore first, Community Home Lenders argue

VantageScore provides deep insights and implementation resources, including a migration playbook. Visit the dedicated mortgage section of VantageScore to download the report and learn more.