The Federal Housing Finance Agency (FHFA) on Monday announced that it is replacing the Classic FICO credit model, which Fannie Mae and Freddie Mac have relied on for nearly 20 years, for the FICO 10T and VantageScore 4.0. 

“They will provide more accurate credit scores, and we believe the market, including investors, will be provided with an improved understanding of risk from not just one but two different credit score models,” Sandra Thompson, the FHFA’s director, said during the Mortgage Bankers Association (MBA) Annual Conference in Nashville. 

Thompson said the new models are more details ⇒

BusinessMediaguide.Com portal received this content from this noted web source: HousingWire.Com