According to National Mortgage Professional, the 30 largest mortgage originators in the United States, including Rocket Mortgage, United Wholesale Mortgage, and Newrez, are now using VantageScore 4.0, highlighting the industry’s shift towards mortgage credit score modernization.
The nation’s #1 mortgage lender, Rocket Mortgage, recently announced the integration of VantageScore 4.0. Bill Banfield, Chief Business Officer of Rocket Companies, said, “Rocket is relentless in our mission to help more Americans achieve the dream of homeownership. By integrating VantageScore 4.0 into our direct-to-consumer and Rocket Pro processes, we’re opening the door to millions of aspiring homeowners.”
VantageScore 4.0 can generate scores for approximately 94% of U.S. adults, enabling lenders to evaluate up to 33 million more consumers than traditional models. This coverage increases mortgage eligibility opportunities for renters and individuals with limited credit histories.
Today’s consumers deserve a credit score that reflects the full picture of their financial behavior, leveraging more data, including rental data and trended data,” said Tony Hutchinson, Executive Vice President and Head of Public Affairs at VantageScore. “Rocket’s adoption of VantageScore 4.0 demonstrates industry leadership and a commitment to using innovative, data-driven solutions that responsibly broaden access to mortgage financing.
As the mortgage industry evolves with increasing adoption by the nation’s largest lenders, VantageScore 4.0 is helping create a more inclusive and competitive lending environment.
For more information on VantageScore 4.0 implementation, please visit VantageScore’s Mortgage Resource Center.
