FHFA issues new rule effectively prohibiting Fannie and Freddie from using VantageScore

FHFA issues new rule effectively prohibiting Fannie and Freddie from using VantageScore
Anyone hoping that Fannie Mae and Freddie Mac may soon start using VantageScore as an alternative to their current FICO credit scoring model is about to get a cold dose of reality. The FHFA announced this week that it is issuing new rules surrounding the adoption of alternative credit scoring rules. Chief among those rules is a provision that would prohibit the GSEs from using the VantageScore credit scoring model because of conflicts of interest with the company’s backers.
Source: https://www.housingwire.com/rss