CNN —
Mortgage lenders will soon have a new way to assess borrowers applying for government-backed loans. That sent the stock of America’s biggest credit score company plunging Tuesday.
Federal Housing Finance Agency director Bill Pulte announced that lenders may start using VantageScore, a rival to the Fair Isaac Corporation, the company behind the widely recognized FICO score, to assess creditworthiness for government-sponsored Fannie Mae or Freddie Mac mortgages.
“Effective today, to increase competition to the Credit Score Ecosystem and consistent with President Trump’s landslide mandate to lower costs, Fannie and Freddie will
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