“The Current FHFA Timeline Offers Considerable Time for Implementation”– Silvio Tavares, President and CEO of VantageScore

As part of prepared written remarks to the House of Representatives Committee on Financial Services, Federal Housing Finance Agency (FHFA) Director Sandra Thompson commented on the currently planned multi-year timeline for implementation of the VantageScore 4.0 for GSE funded mortgage loans.

VantageScore issued the following statement to the media in response:
“The recent announcement from FHFA on the timeline for implementation of the mandated use of VantageScore 4.0 provides a clear roadmap for the industry to take action. Lenders and consumers will benefit from a new, more inclusive credit score: VantageScore 4.0. The current FHFA timeline offers considerable time for implementation, and we look forward to working with industry participants and FHFA on a smooth transition,” said Silvio Tavares, President and CEO of VantageScore.

A playbook for implementing VantageScore 4.0, specifically developed for mortgage lenders ,is available on VantageScore’s website.