Pulte Directs Fannie Mae and Freddie Mac to Allow All Lenders Use of VantageScore
U.S. Federal Housing Director Bill Pulte has instructed Fannie Mae (FNM) and Freddie Mac (FMCC) to permit all lenders access to the VantageScore credit scoring system, according to a statement on Wednesday. This directive follows an initial rollout that saw significant adoption by over 50 lenders. The move aims to expand lending flexibility in mortgage underwriting practices across the U.S., potentially increasing competition with FICO scores and influencing how borrowers are assessed for home loans. The decision could shift market dynamics among credit scoring models used in real estate finance, affecting both lenders and consumers.
Topics: Fannie Mae Federal Housing Administration Freddie Mac VantageScore