VantageScore introduces its Mortgage Resource Center
In preparation for the leading credit scoring and data analytics company, VantageScore has launched a Mortgage Resource Center to support lenders transitioning to the 4.0 lending model.
The new resource provides tools and guidance to facilitate integration and aligns with the growing adoption of VantageScore 4.0 by a number of industry players. These include (VA) and in New York, Chicago, and San Francisco (FHLBs).
The initiative comes as the mortgage industry (FHFA) prepares for mandatory adoption of VantageScore 4.0 by October 2025, as required. The updated model replaces the traditional one and uses alternative data points, such as rent payment history, to better assess a borrower's creditworthiness.
Tony Hutchinson, VantageScore's senior vice president of industry and government relations, described the Mortgage Resource Center as a critical tool as he continues to work with lenders. Freddie Mac and Fannie Mae.
“The immediate transition ensures that lenders remain well-positioned to continue working with Fannie Mae and Freddie Mac, as well as other major GSEs that can currently accept VantageScore mortgages,” Hutchinson said. “If you're a lender, you need to implement VantageScore 4.0 now or risk losing access to the major mortgage GSEs.”
VantageScore's Mortgage Resource Center provides a step-by-step guide to integrating the new credit scoring model. Lenders also have access to CreditGauge, Inclusion360, RiskRatio and MarketGain to assess consumer health, highlight underserved consumers, assess default levels and explore market opportunities.
In 2024, VantageScore 4.0 integration rose among lenders. It adopted the model late last month to serve 3.1 million potential borrowers in New York, New Jersey, Puerto Rico and the U.S. Virgin Islands. VantageScore claims to have helped at least 33 million more consumers than traditional credit scoring models, including 4.1 million minority borrowers with credit scores below 620.
