FHFA accepted alternative credit scoring models, including FICO Score 10T, while the Trump administration directed CFPB to cut mortgage cost drivers.
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Updated oct 7
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How it started
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What happened
FHFA accepted alternative credit scoring models, including FICO Score 10T, while the Trump administration directed CFPB to cut mortgage cost drivers.
Who's involved
What this event is mainly aboutHow it developed
Newest first. Tap a step to see who reported it.Rocket Mortgage adopted VantageScore 4.0 following FHFA's allowance of competing credit scores.1 source
FHFA approved a new scoring standard, intensifying competition for FICO.1 source
- FHFA directs adoption of a new model to modernize credit risk assessment and utilize the new risk evaluation framework.Sub-event
FHFA adopts new FICO scoring model; Trump administration directs CFPB to reduce mortgage costs.1 source
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The entities involved
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FICO
company
Nothing else this week.
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Federal Housing Finance Agency
U.S. federal agency
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Consumer Financial Protection Bureau
agency of the United States government responsible for consumer protection in the financial sector