Open Banking Fees and What They Mean for Mortgage Verification
In a HousingWire article published August 21, 2025, Brian Francis of Informative Research explains how new, fee based data access models from large...
Published: July 15, 2025
Source: HousingWire article by James Kleimann
Summary:
The FHFA cleared up key questions about how lenders can adopt VantageScore 4.0. FHFA Director Bill Pulte confirmed that lenders will be able to choose between using FICO Classic or VantageScore 4.0 for each loan they deliver to the GSEs. This flexibility is intended to support competition and minimize complexity for lenders during the transition.
Key points:
Lenders can choose either scoring model loan by loan
Tri-merge credit reports are still required
No immediate changes to credit reporting rules
Updates to Selling Guides will come next
FICO 10T is still on the radar for future adoption
Our Take:
This update makes things a bit clearer for lenders. But there are still MANY questions that need to be answered. Having the choice between FICO Classic and VantageScore 4.0 at the loan level puts control in lenders’ hands. It’s a big moment that opens the door to real score model competition.
Points to consider:
While there are still details to work through, like pricing grids, MI alignment, and tech readiness, it's helpful to see some structure start to emerge.
At Informative Research, we're continuing to work closely with our bureau, GSE and technology partners ensure our clients can take advantage of VantageScore 4.0 when the time is right.
If you'd like to talk through what this might mean for your workflows down the road, we are always happy to connect.
Disclaimer: The views and commentary expressed in this blog are provided for informational purposes only and do not constitute legal, financial, or professional advice. Informative Research (IR) makes every effort to ensure the accuracy of the content at the time of publication, but we do not guarantee its completeness or timeliness. Readers should consult their own legal or business advisors before making decisions based on this information. References to third-party companies, products, or services are not endorsements.
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In a HousingWire article published August 21, 2025, Brian Francis of Informative Research explains how new, fee based data access models from large...
Published: July 15, 2025Source: HousingWire article by James Kleimann
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