Credit scores

The release of Fannie Mae and Freddie Mac's internal metrics support this process, but other measures will still be needed, according to Bank of America.

Lenders may not be able to fully respond to the broader government-sponsored enterprises' rollout of VantageScore 4.0 yet but there is one thing they can do now.

Allowing lenders to choose the number of credit reports they use would force the credit bureaus to clean up their data issues and provide consistent scoring, writes the Chairman of Whalen Global Advisors.

The big three's trade group has said they operate legally and protect the industry with a trio of reports. FHFA also is opening up VantageScore for all lenders.

Meanwhile, MISMO has updated its guide to incorporate the updated scores for use with mortgage insurers and VantageScore Solutions rolls out a new model, 5.0.

Standard & Poor's found modeled foreclosure frequency and loss coverage to be in similar ranges as classic FICO but showed concern about potential bias.

Rocket, United Wholesale Mortgage and Pennymac said they will use the new government-sponsored enterprise credit metric as large lenders get on board.

The enterprises also still plan to add FICO 10T but the release of the historical data stakeholders in their market can use to assess it has taken longer.

Republican Sen. Josh Hawley repeated his long-standing criticism of Fair Isaac Corp. in a letter noting the detrimental impact of its prices on home buyers.

TransUnion cuts VantageScore 4.0 to $0.99, aiming to boost lender choice and affordability as FHFA pushes mortgage score modernization and competition.

Competitive credit could offer nine-figure cost benefits, according to a study VantageScore cited. FICO, which just added a new borrower tool, disagrees.

Mortgage tech's speed is undermined by flawed credit data, causing costly fallout. Lenders must treat data accuracy as a pipeline risk, not a peripheral issue, according to the founder of Consumer Attorneys

Bowing to industry pressure, the Consumer Financial Protection Bureau is warning consumers with notices on its complaint portal not to file disputes about inaccurate information on credit reports, among other changes.

IMBs outperform banks, face outsized scrutiny, and confront rising affordability challenges, according to the President of the Community Home Lenders of America.

A Community Home Lenders of America adds arguments against use of single bureau while another paper takes the position that the idea merits further study.

The rent reporting platform says it's helped tenants raise their credit scores by double digits and unlocked $30 billion more in mortgage lending.

Social media posts point to a 40% to 100% price hike this year, the latest in a series of hikes started in 2023, when for some lenders prices rose 400%.

Renters can now enroll in CreditClimb through Zillow to have their on-time rent payments reported to the three major credit bureaus.

The credit score firm partnered with Plaid to bring additional cash-flow data into its previously released UltraFICO score.

Several claims in a recent Loan Think column misrepresented how credit scores and resellers work in mortgage lending, according to the president of the National Consumer Reporting Association.