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Support and Configuration for VantageScore 4.0

 
 

We have received a significant number of inquiries regarding the industry's transition toward VantageScore 4.0 and our system's readiness to support it. We are pleased to announce that our platform does support importing VantageScore 4.0 credit scoring models when they are returned by your credit reporting agency.

As you consider adopting VantageScore 4.0, please review the following current system configurations, limitations, and industry considerations to ensure a smooth process:

Current Capabilities & Setup Requirements

Provider-Level Configuration: To begin receiving VantageScore 4.0 data, you must work directly with your credit provider to configure this change. Currently, the credit model must be set at the provider level for all loans ordered through them. We do not yet support the ability to select the preferred credit model (e.g., FICO vs. VantageScore) on a loan-by-loan basis within the system.

Important Limitation: Importing Multiple Models

  • Our system is currently designed to import a maximum of three credit scores per borrower (one per credit bureau).
  • Please ensure your credit provider is NOT configured to send back both FICO and VantageScore models on the same report. Requesting both models simultaneously exceeds the system's current import capacity. Doing so can cause mapping inconsistencies and impact the integrity of your imported data by inadvertently blending the scores from the two different models.

Alignment with Investor Guidelines

  • As you evaluate moving to VantageScore 4.0, please keep in mind that lenders are responsible for ensuring their configured credit model is fully supported by their partners and investors.
  • For context, Fannie Mae and Freddie Mac are currently only offering the use of VantageScore 4.0 to a limited set of lenders at this time and have not yet provided full clarity regarding its use relative to AUS submission and underwriting. We highly recommend verifying downstream requirements before updating your provider configurations.

Looking Ahead

We are actively evaluating future enhancements to provide greater flexibility around credit reporting. Specifically, we are exploring the ability to support credit model selection on a loan-level basis, as well as the capacity to successfully import multiple scoring models on a single loan.

We will share more information on these enhancements as they develop. In the meantime, please reach out to our support team if you have any questions or need further clarification on configuring your credit provider settings.