Mortgage industry professionals had more questions than answers following last week’s bombshell announcement that the government-sponsored enterprises Fannie Mae and Freddie Mac have approved the use of VantageScore 4.0, a new credit scoring model.

A week after the initial announcement, Federal Housing Finance Agency (FHFA) Director Bill Pulte answered several key questions.

In an FAQ letter posted Tuesday on social media platform X, Pulte said that lenders will soon choose between FICO Classic and VantageScore 4.0. Industry professionals previously told HousingWire they were unclear if both scoring models were to be used, or if lenders had to details ⇒

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