For loans delivered to Fannie Mae or Freddie Mac, approved lenders can now choose VantageScore 4.0 instead of Classic FICO, subject to each Enterprise’s requirements. The choice is made loan by loan, and every borrower on the same loan must be scored with the same model. FICO 10T is approved for future Enterprise use but is not yet eligible for delivery. FHA has a separate schedule: HUD says VantageScore 4.0 and FICO 10T become eligible for FHA forward mortgage underwriting on January 1, 2027.
Which mortgage credit score models can lenders use now?
For conventional mortgages intended for sale to Fannie Mae or Freddie Mac, current FHFA policy allows an approved lender to select either Classic FICO or VantageScore 4.0 for an individual loan. The lender must follow the applicable Enterprise Selling Guide and delivery requirements. The selected model applies to all borrowers on that loan; lenders cannot mix models among co-borrowers.
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FHFA expanded VantageScore 4.0 availability to all approved Enterprise lenders on September 9, 2026, removing the prior written-approval requirement. On September 30, 2026, it aligned Enterprise upfront fees across Classic FICO and VantageScore 4.0. These dates and requirements apply to Enterprise deliveries, not every mortgage channel. See FHFA’s current credit-score policy.
FICO 10T has been validated and approved for future Enterprise use, but FHFA says it is not currently eligible for loan delivery. “Approved” therefore does not mean a lender can deliver an Enterprise loan scored with FICO 10T today; FHFA says it will provide further guidance before eligibility changes.
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How do the models differ in status and potential value?
| Model | Current status | Potential value and tradeoffs |
|---|---|---|
| Classic FICO | Eligible for Enterprise deliveries; FHFA has announced no retirement date. | Established lender familiarity and ongoing eligibility can reduce disruption during the transition. Its continued availability means lenders are not required to switch to an alternative model. |
| VantageScore 4.0 | Eligible for all approved Enterprise lenders under current FHFA policy, with selection made per loan. | FHFA says newer validated models use additional data, including rent-payment history, and may score more people. Whether that helps a particular applicant depends on the information available in credit files and the lender’s process. |
| FICO 10T | Approved for future Enterprise use, but not currently eligible for Enterprise delivery. HUD says it becomes eligible for FHA forward loans scored in TOTAL on January 1, 2027. | FHFA’s description of newer models includes additional data such as rent-payment history. Enterprise availability remains pending, so lenders should not treat future approval as present delivery eligibility. |
The availability and requirements described above are set out by FHFA. The models’ use of additional data may affect who receives a score or how a file is evaluated, but it does not establish that a given borrower’s score will rise or that one model is categorically more accurate, cheaper, or more inclusive.
What is different about FHA mortgage underwriting?
FHA-insured forward loans follow HUD policy, not the Enterprise delivery timetable. HUD says VantageScore 4.0 and FICO 10T become eligible for FHA forward mortgage underwriting beginning January 1, 2027, when the loan is scored through TOTAL. This date should not be generalized to other mortgage channels or FHA loan types.
TOTAL is a statistically derived scorecard used through an Automated Underwriting System (AUS); it is not itself an AUS. In conjunction with the AUS, it returns an “Accept” or “Refer” classification. An Accept generally avoids manual underwriting unless a required downgrade applies. A Refer requires underwriting by an FHA Direct Endorsement lender. HUD also says lenders may not accept or deny an FHA-insured mortgage solely on TOTAL’s assessment; underwriting must follow HUD’s FHA TOTAL Scorecard guidance and Handbook 4000.1.
How should a lender evaluate an alternative model?
The relevant question is not simply whether one model produces a higher score. A lender assessing a model for a particular channel and portfolio should weigh eligibility, predictive evidence, borrower coverage, procurement, implementation, and compliance together.
- Channel and effective date: Confirm the model is eligible for the intended investor, insurer, and loan type, and verify the current delivery rules.
- Performance for the intended business: Evaluate evidence for the lender’s borrower population, products, and risk decisions. A result from a different population or period may not transfer.
- Data coverage: Check whether relevant information, including rent-payment history where applicable, is actually present in the credit files being used.
- Cost and access: Compare score and credit-report procurement costs, bureau availability, and any operational constraints under the lender’s arrangements.
- Implementation and controls: Assess system integration, quality control, staff training, and procedures for applying one model consistently to all borrowers on a loan.
- Investor, insurer, and compliance requirements: Confirm that every party and rule governing the loan permits the selected model and workflow.
FHFA has published historical Enterprise data for participants to analyze, not a regulator finding that one model outperforms another. Its FICO 10T dataset covers Enterprise loans acquired from April 2013 through September 2025; its additional VantageScore 4.0 dataset covers acquisitions from April 2023 through September 2025. Those ranges describe the data, not a comparative-accuracy result. The data and current policy are available from FHFA.
What should borrowers expect from a different score model?
A lender’s use of an alternative model does not guarantee that an individual borrower will receive a higher score, qualify for a loan, or obtain better terms. Models can weigh available information differently, and the result depends on the borrower’s credit-file data as well as the lender’s underwriting and the requirements of the loan channel.
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For a borrower, the practical step is to ask the lender which scoring model and loan channel apply to the application. A score shown by a consumer-facing service may not be the model used for mortgage underwriting. A score is one input: it does not replace the rest of the lender’s review.
Why did earlier rollout descriptions differ?
Fannie Mae and Freddie Mac bulletins dated April 22, 2026 described a more limited VantageScore 4.0 rollout for approved sellers or lenders, and identified bureau versions from Equifax, Experian, and TransUnion. FHFA’s September 9 expansion superseded that narrower lender-access description. The bulletins also said FICO 10T implementation would follow later; FHFA’s current policy confirms that it is not yet eligible for Enterprise delivery. The original notices are Fannie Mae SEL-2026-04 and Freddie Mac Bulletin 2026-D.
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