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Story summary
- FHFA director William Pulte and HUD secretary Scott Turner said Fannie Mae, Freddie Mac and Federal Housing Administration (FHA) will adopt VantageScore 4.0, FICO 10T for underwriting.
- The scores include rent and utility payments, with a $10 million trial that has originated loans after twenty-one lenders were cleared to use them.
- Experts warn may be limited to tens of thousands because renters lack credit-report data, while officials expect lower costs and competition.
