Credit Score Models and Reports Initiative
FHFA announces publication of VantageScore 4.0 historical credit scores
On July 11, FHFA announced the publication of VantageScore® 4.0 historical credit scores by the GSEs to help industry participants better analyze and understand the model. Visit the new Historical Credit Score Files page to access the data and resource files. Users must log in or sign up and accept the VantageScore 4.0 terms and conditions and the Fannie Mae privacy notice before downloading the data files.
Fannie Mae and Freddie Mac (the GSEs) have begun the next phase of the joint GSE Credit Score Models and Reports Initiative. As a reminder, our work for this initiative will include:
- Moving from the current Classic FICO credit score model to require lenders to use two credit scores generated by the FICO Score 10 T and the VantageScore 4.0 models.
- Allowing two, rather than three, credit reports from the national consumer reporting agencies – moving from the current tri-merge report model to an optional bi-merge model.
Details about the initiative, including proposed timelines and FAQs, can be found in our Partner Playbook. We’ll continue to update the playbook as needed, adding important information and links to resources as the implementation plan is finalized and the initiative progresses. Check back often to be sure you’re on track.
Previous Announcements & Statements
Current Credit Score Model
In accordance with the requirements of the Validation and Approval of Credit Score Models Rule (12 C.F.R. Part 1254), Fannie Mae performed the required assessments for the Classic FICO credit score model and determined that Classic FICO should be approved for continued use by Fannie Mae. The Federal Housing Finance Agency announced its approval of this determination on Nov. 10, 2020. This was an incremental step until further updates in accordance with the Rule.
