New Study Reveals How the VantageScore 4.0 Credit Score Compares to FICO 10T and FICO Classic for New Creditworthy Mortgage Consumers
VantageScore Uses Large Alternative Data Sets to Pinpoint Creditworthy Mortgage Borrowers Forgotten by Obsolete Models, Including FICO 10T
New VantageScore 4.0 Mortgage Lending Opportunities Extend Far Beyond First-Time Homebuyers
New VantageScore 4.0 Qualifying Mortgages Demonstrate Similar or Lower Risk Compared to Historical Mortgage Loans
New independent research reveals that nearly five million additional U.S. consumers become mortgage eligible when evaluated using VantageScore 4.0, representing an estimated $1 trillion lending opportunity for mortgage lenders without lowering underwriting standards. The research study issued today by OGMA Risk & Analytics1, titled Opening the Door to Homeownership: How VantageScore 4.0 Expands the Mortgage-Ready Population—From First-Time Buyers to Borrowers Re-Entering the Market, demonstrates that VantageScore 4.0 responsibly expands the mortgage market by identifying more qualified borrowers. VantageScore 4.0 is currently the only FHFA-approved mortgage credit score that scores this expanded population, making it the only model whose full market-expansion value even shows up in an evaluation designed to test for it. In a housing market where affordability, access, and borrower growth are critical, the ability to identify new mortgage consumers is a significant competitive advantage, and only VantageScore 4.0 offers it.
