Rocket Mortgage plans to make VantageScore 4.0 its preferred credit scoring model for eligible direct-to-consumer mortgages during the fourth quarter, moving one of the nation’s largest mortgage operations from testing the model to making it the default where loan...
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...
For years, the mortgage industry has complained about the rising cost of pulling credit. Those complaints weren’t imaginary. The Mortgage Bankers Association told Congress earlier this year that its members had experienced four consecutive years of significant...
The Department of Housing and Urban Development (HUD) and the Federal Housing Finance Agency (FHFA) have announced the first major update to their respective credit scoring models in decades. HUD is now enabling the Federal Housing Administration (FHA) to use of...
The credit scoring agencies Equifax (NYSE: EFX) and Experian are joining their competitor TransUnion (NYSE: TRU) in reducing their respective VantageScore 4.0 mortgage credit scores for 99 cents. Equifax said it will continue to offer free VantageScore 4.0 credit...
Pending Home Sales Hit Lowest Level Since 2014 as Contract Cancellations Su…
