VantageScore, FHFA, Fannie Mae and Freddie Mac Release Historical VantageScore 4.0 Mortgage Data Set

VantageScore Continues Its Industry-Leading Commitment to Transparency

SAN FRANCISCO, July 11, 2024 /PRNewswire/ -- VantageScore, a leading national credit-scoring company, today announced the release of a comprehensive, loan level, VantageScore 4.0 historical data set to mortgage industry participants.?The FHFA, alongside the Government-Sponsored Enterprises (GSEs), Fannie Mae and Freddie Mac, are releasing the data?to support the FHFA mandated implementation of VantageScore 4.0 credit scores?for mortgages.

• Mortgage Data Set Available Immediately - The data release takes place today, July 11, at 10:00 a.m. ET.
  
  
• Available from Both Fannie Mae and Freddie Mac - Mortgage industry participants can access the VantageScore 4.0 historical data set on the Freddie Mac and Fannie Mae Credit Score Model Implementation websites, available here:
  • Fannie Mae: https://singlefamily.fanniemae.com/originating-underwriting/credit-score-models
  • Freddie Mac: https://sf.freddiemac.com/general/credit-score-models
    
    
• Comprehensive Data - The VantageScore 4.0 historical data set released today represents a portion of the GSEs' loan portfolios from 2013 to 2023. Loan level data for VantageScore 4.0 includes 25 million records for Fannie Mae and 20 million records for Freddie Mac. Within both data sets, each loan has a VantageScore 4.0 credit score. Additionally, the Mortgage-Backed Securities (MBS) and Credit Risk Transfer (CRT) information amounts to another 38 million records for Fannie Mae and another 33 million records for Freddie Mac. By providing these extensive data sets and aiding the swift implementation of VantageScore 4.0 for GSE-funded mortgages, VantageScore estimates the number of qualifying eligible mortgage applicants will increase by over 2.5 million, resulting in an incremental $1 trillion in potential new mortgages.

"VantageScore applauds the FHFA and the GSEs in their commitment to implement VantageScore 4.0 in order to provide the mortgage industry with the most innovative, predictive and inclusive credit scores," said Anthony Hutchinson, SVP, Industry and Government Relations, VantageScore. "This is an important and necessary step to modernize the outdated and exclusionary credit scores that lenders in the conventional-conforming mortgage market have been forced to use."

In 2022, the FHFA mandated the use of VantageScore 4.0 for lenders who sell loans to Fannie Mae or Freddie Mac pursuant to the 2018 Credit Score Competition Act. This action by the FHFA addresses the homeownership gap in the U.S. while simultaneously improving predictive performance for lenders. Outdated models in housing finance often exclude millions of creditworthy, underserved borrowers. VantageScore 4.0 scores an estimated incremental 33 million more people than traditional models, making it considerably more inclusive. For this reason, the FHFA's efforts to modernize mortgage risk assessment and encourage credit-scoring competition in the mortgage industry have been met with?broad, bipartisan Congressional support.

To learn more about migrating to VantageScore 4.0,?visit the Mortgage homepage.

About VantageScore^?
VantageScore?is the fastest-growing credit scoring company in the U.S., and is known for the industry's most innovative, predictive, and inclusive credit score models. In 2023, usage of VantageScore increased by 42% to more than 27 billion credit scores. More than 3,400 institutions, including 8 of the top 10 banks, use VantageScore credit scores to provide consumer credit products including credit cards, auto loans, personal loans and mortgages. The VantageScore 4.0 credit scoring model scores 33 million more people than traditional models. With the FHFA mandating the use of VantageScore 4.0 for Fannie Mae and Freddie Mac guaranteed mortgages, the company is also ushering in a new era for mortgage lending and helping to close the homeownership gap.

VantageScore is an independently managed joint venture company and owners?include the three Nationwide Consumer Reporting Agencies (NCRAs) ? Equifax, Experian, and TransUnion.

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SOURCE VantageScore