Freddie Mac has securitized the first batch of mortgages originated by Newrez using VantageScore 4.0, marking a significant step in modernizing credit scoring for mortgage lending. This development allows lenders to use more contemporary scoring models that incorporate trended data and alternative payment history, potentially expanding access to homeownership for underserved borrowers. Other major lenders are expected to adopt similar practices as federal housing agencies roll out broader updates to credit score requirements.
Read the full article at HousingWire
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