General World News

FHLBank Chicago adopts VantageScore 4.0 model

The Federal Home Loan Bank of Chicago (FHLBank Chicago) and consumer credit scoring system VantageScore announced on Tuesday that the bank is now accepting mortgage collateral using VantageScore 4.0, an updated version of the scoring system using trended credit bureau data.

“[M]ember financial institutions can now pledge mortgage collateral using VantageScore credit scores as an alternative to the Classic FICO credit score model,” the announcement said. “By considering rental payments and other consumer credit data in its scoring algorithms that are not included in traditional scoring models, VantageScore provides an innovative solution aimed details ⇒

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