Lawmakers voice support for FHFA’s adoption of VantageScore 4.0

“American consumers have been stuck using a single outdated credit scoring model,” the letter to Pulte reads. “Thanks to your efforts, the credit score models on which our housing market relies will be better able to capture creditworthy individuals, like those in rural areas and our veterans, without lowering underwriting standards.

“Under the Biden Administration, the cost of owning a home skyrocketed. Under your
leadership, the FHFA has been chipping away at those costs and putting homeownership back within reach for millions of additional Americans.”

In a statement published Friday, VantageScore also lauded the FHFA’s decision made earlier this month, which quickly faced many questions across the mortgage industry. The company noted that VantageScore 4.0 had…