Episode 205: FHFA's new credit scoring requirements

This episode reviews an article from ICBA titled “Ron Haynie & Tim Roy: Deciphering FHFA’s Credit Score Transition.” The Federal Housing Finance Agency (FHFA) has issued new credit scoring requirements for Fannie Mae and Freddie Mac by transitioning from the classic FICO to the FICO Score 10 T and VantageScore 4.0 credit scoring models. Is this a good or bad change? How will this affect you as a consumer trying to get a residential mortgage? A link to the article is included below.

Link: Ron Haynie & Tim Roy: Deciphering FHFA's Credit Score Transition (independentbanker.org)