Story perspectives

FHFA Orders Fannie, Freddie to Treat VantageScore 4.0 Equal

By Drooid · Sep 30, 2026, 2:49 PM UTC · How we work

Summary

Story summary

FHFA Director Bill Pulte announced Fannie Mae and Freddie Mac will use one pricing grid treating VantageScore 4.0 equal to Classic FICO.
Fair Isaac shares dropped about 24.5% to $634.27, erasing over $4 billion in market value.
Rocket Mortgage said VantageScore 4.0 will be its preferred model for eligible loans in Q4, saving $1,600 per closing on average.
Pulte claimed FICO raised per-score fees about 1,800% since 2020, accusing the company of monopoly power.

History

Historical Context

The 2008 collapse of Lehman Brothers triggered a nationwide overhaul of mortgage underwriting, prompting the FHFA to require Fannie Mae and Freddie Mac to adopt the FICO credit-score model. That shift involved roughly $5 trillion in GSE-guaranteed mortgage obligations. Today, FHFA Director Bill Pulte’s decision to place VantageScore 4.0 on an equal pricing grid echoes the 2008 reforms.

1 of 2

Story summary

FHFA Director Bill Pulte announced Fannie Mae and Freddie Mac will use one pricing grid treating VantageScore 4.0 equal to Classic FICO.
Fair Isaac shares dropped about 24.5% to $634.27, erasing over $4 billion in market value.
Rocket Mortgage said VantageScore 4.0 will be its preferred model for eligible loans in Q4, saving $1,600 per closing on average.
Pulte claimed FICO raised per-score fees about 1,800% since 2020, accusing the company of monopoly power.

1 / 2