Nation’s Largest Lenders Report Significant Homebuyer Savings with VantageScore 4.0 for Mortgages
Mortgage industry leaders report examples of up to $5,000 in borrower savings by utilizing VantageScore 4.0 credit scores
The nation’s largest mortgage lenders are reporting significant savings for homebuyers as adoption of VantageScore 4.0 credit scores accelerates across the mortgage industry. The #1 mortgage lender in the country, Rocket Mortgage, found that using VantageScore 4.0 credit scores helped more clients qualify and move forward in the mortgage process, saving consumers an average of $1,600 per mortgage.
CrossCountry Mortgage, another top 3 mortgage lender in the United States, reports an estimated $2,500 in average savings for borrowers from the adoption of VantageScore 4.0. Blue Sage Solutions reports that VantageScore 4.0 implementation led to approximately $5,000 in savings on a loan from Movement Mortgage.
The industry’s rapid adoption of VantageScore 4.0 underscores a fundamental shift in mortgage lending that is already resulting in cash savings and better decisioning, helping more creditworthy Americans become homeowners.
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Nation's Largest Lenders Report Significant Homebuyer Savings with VantageScore 4.0 -- Up to $5,000 in Savings for Mortgage Borrowers
“Leading lenders increasingly recognize that modern, more predictive credit scores can help them make better-informed lending decisions while expanding access to homeownership,” said Anthony Hutchinson, Interim President and CEO at VantageScore.
“The accelerating adoption of VantageScore 4.0 for mortgage moves the industry beyond the limitations of legacy scoring models and creates new homeownership opportunities for millions more creditworthy Americans.”
The most advanced credit scoring model available today for mortgage, VantageScore 4.0 continues to expand its reach across the mortgage industry through integrations with leading technology providers, including Xactus, Calyx, and Optimal Blue.
The model has also gained traction across key segments of the housing finance market, with adoption or approval for use by Fannie Mae, Freddie Mac, the Federal Home Loan Banks, the Federal Housing Administration, and the U.S. Department of Veterans Affairs.
Lenders interested in implementing VantageScore 4.0 to responsibly identify more qualified borrowers through modern, data-driven credit scoring can learn more at www.vantagescore.com/lenders.
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 2024, usage of VantageScore increased by 55% to hit 42 billion credit scores.
More than 3,700 institutions, including nine of the top 10 U.S. banks, use VantageScore credit scores and digital tools to provide consumer credit products or generate greater insights into consumer behavior. The VantageScore 4.0 credit scoring model scores 33 million more people than traditional models.
With the FHFA allowing the immediate 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.
VantageScore is an independent joint venture company owned by Equifax, Experian and TransUnion.
Contact: Yani Pena | VantageScoreEmail: [email protected]: +1 (415) 740-1915
View source version on businesswire.com: https://www.businesswire.com/news/home/20261112234447/en/
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