U.S. Congress Debates GSE Credit-Score Modernization Plan
The U.S. Credit Score Competition Act of 2018 requires the Federal Housing Finance Agency (FHFA) to validate alternative models for Fannie Mae and Freddie Mac, challenging the mortgage market’s longstanding reliance on Classic FICO. The two government-sponsored enterprises support a mortgage market worth more than $8.5 trillion, and the choice of models will affect borrower eligibility, pricing and securitization risk.
The House Financial Services Committee’s Subcommittee on Financial Institutions held a hearing on April 16, 2026. Consumer Data Industry Association CEO Dan Smith supported adopting VantageScore 4.0, while lawmakers questioned the terms of competition with FICO and delays in the process. The FHFA approved VantageScore 4.0 and FICO 10T on October 24, 2022, but implementation details remain a key focus.
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The history behind this eventTransUnion Slashes Credit-Score Price to Challenge FICO’s Market Position
The US mortgage credit-scoring market has long been dominated by Fair Isaac’s Classic FICO, leaving lenders with limited choice. On October 24, 2022, the Federal Housing Finance Agency approved VantageScore 4.0 and FICO 10T for use by Fannie Mae and Freddie Mac. The agency sought to incorporate data such as rent payments into newer models, introduce competition and lower costs for industry participants and borrowers.
TransUnion announced on March 9, 2026, that it would cut the price of a VantageScore 4.0 credit score for each mortgage origination from $4 to $0.99, a reduction of more than 75%. The company estimated that the move could save lenders and consumers more than $900 million, directly challenging FICO’s established position as the FHFA works to modernize the market.
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