FHFA Director Posts on X Regarding VantageScore 4.0 Credit Scoring

The Director of the Federal Housing Finance Agency (FHFA), Bill Pulte, recently posted on X, in part, that Fannie Mae and Freddie Mac now will allow lenders to use VantageScore 4.0.  FHFA recently released Frequently Asked Questions (FAQs) regarding the Fannie Mae and Freddie Mac (collectively, the GSEs) implementation of this change. 

The FAQs state, among other things, that:

• Lenders will have the choice, per loan, to report credit scores from either Classic FICO or VantageScore 4.0;
• Initially, there will be no change to the credit reporting requirements (e.g., tri-merge reporting); and
• The GSEs will update their Selling Guides regarding delivery of loans scored with VantageScore 4.0, but the existing Selling Guides remain in place until then.