Credit scores

MBA urges GSEs to drop tri-merge credit rule, calling it outdated and costly as FHFA weighs broader credit reporting and scoring reforms.

Pushing back on critics, VantageScore's Chief Strategist and Chief Economist says VantageScore 4.0 boosts competition and predicts risk better than FICO.

More details are out about the government-sponsored enterprises' acceptance of nontraditional credit metrics. But pundits say fiscal analysis is still tough.

Allowing the same three companies to control both credit scoring and credit reporting removes one significant check on manipulation or distortion of consumer data, writes the Director of Consumer Reporting and Data Advocacy at the National Consumer Law Center.

FHFA's surprise approval of VantageScore 4.0 raises concerns over data, implementation hurdles, and the politicized push to reform mortgage credit scoring, writes the Chairman of Whalen Global Advisors.

Private mortgage insurers must accept the FICO alternative as valid collateral before it can be widely adopted by the mortgage industry.

FHFA's move to greenlight VantageScore 4.0 while sidelining FICO 10T has sparked a high-stakes clash over the future of mortgage credit scoring.

The move their regulator Bill Pulte announced introduces competition for one metric but charges from three credit bureaus will remain in place.

Bill Pulte, regulator and conservator of entities that buy and securitize many mortgages, also reaffirmed he's 'not happy with" lenders' main score provider.

Although credit bureaus have collected this data for three years, it's only now being factored into assessments of consumer creditworthiness.