The agency has finally put a date on one of the biggest changes to FHA mortgage credit scoring in decades. Beginning Jan. 1, lenders will be able to use VantageScore 4.0 and FICO Score 10T alongside Classic FICO for eligible FHA loans, but the implementation rules...
VantageScore has announced the Federal Housing Administration (FHA) will begin accepting mortgage collateral backed by its VantageScore 4.0 credit scoring model starting on Jan. 1, 2027. The announcement follows this week’s declaration by Federal Housing Finance...
Federal Housing Finance Agency Director Bill Pulte announced the opening of VantageScore to all government-sponsored enterprise (GSE) lenders. “Good News for American Homebuyers!” wrote Pulte on his personal X account. “Effective Today, in the interest of...
There are some lessons the mortgage industry learned the hard way. We learned what happens when loans are made without adequately documenting income. We learned what happens when borrowers are qualified into products they do not understand or cannot reasonably afford....
Sen. Josh Hawley (R-MO) announced he has begun an investigation into the Fair Isaac Corp. (NYSE: FICO) to determine if the company’s pricing practices in the mortgage credit scoring market has contributed to the affordability challenges in the housing market. Hawley...
Pending Home Sales Slide to Nearly Three-Year Low as Buyers Pull Back
