Pulte announced that Fannie Mae and Freddie Mac are exploring a second credit score, specifically VantageScore, as they move away from relying solely on FICO for underwriting.
4 reports, 1 independent
Updated Sep 5
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What happened
Pulte announced that Fannie Mae and Freddie Mac are exploring a second credit score, specifically VantageScore, as they move away from relying solely on FICO for underwriting.
Who's involved
What this event is mainly aboutHow it developed
Newest first. Tap a step to see who reported it.Underwriters Fannie Mae and Freddie Mac are exploring alternative credit scores like VantageScore due to issues with FICO.1 source
- VantageScore is now accepted as an alternative to FICO by major bureaus and mortgage lenders.
- Fannie Mae and Freddie Mac allow use of VantageScore competitor.
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The entities involved
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Fannie Mae
government-backed financial services company
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Bill Pulte
American philanthropist and executive
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FICO
company
Related events
Coverage
Newest first; wire copies grouped- BankrateA new type of credit score bursts onto the mortgage scene For decades, mortgage lenders have used a single credit score — the FICO score — to underwrite applications for home loans. But that’s about
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