Fannie Mae to allow use of VantageScore 4.0 for loans

Fannie Mae (FNMA) announced upcoming updates to its Selling Guide to allow for the use of VantageScore 4.0, effective immediately, and the future use of FICO (FICO) Score 10T credit scores for loans delivered to Fannie Mae. Additionally, publication of historical credit score data for both models is scheduled for this summer. Fannie Mae also will publish historical credit score data for loans acquired between April 2013 and September 2025 for FICO Score 10T, as well as additional data for VantageScore 4.0 between April 2023 and September 2025. “The updates are intended to help foster competition and innovation, potentially lower lending costs, and provide new insights to support a smooth transition for our industry partners. Newer credit score models also incorporate additional data that can provide a more complete view of borrower creditworthiness, such as on-time rent payment history and trended credit data, with the potential to accurately score more consumers,” Fannie Mae stated.