Medical debt remains on credit reports
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Federal Housing Finance Agency director Bill Pulte announced that lenders may start using VantageScore, a rival to the Fair Isaac Corporation, the company behind the widely recognized FICO score, to assess creditworthiness for government-sponsored Fannie Mae or Freddie Mac mortgages.
Fannie Mae and Freddie Mac will accept a credit scoring model for mortgage applications that captures rent and utility payments in credit history, a move that could help more borrowers qualify for home loans.
The pool of consumers potentially falling into the subprime credit tier might grow by nearly 6 million individuals based on the trends connected with student lo
FHFA Director William Pulte said that lenders may now use VantageScore 4.0, an alternative to the FICO score, while assessing applicants.
With BNPL loans exploding in popularity, a change is coming to credit scoring that shows just how mainstream they have become in consumer finance.