✉news BusinessPersonal Finance first seen 9 h ago, last 8 h ago, peak #37
Rocket Adopts VantageScore as Default Credit Score
Original: Rocket Makes VantageScore Its Default After Testing Finds Borrower Savings
Rocket Companies will make VantageScore its default credit score after internal testing indicated the switch would generate savings for borrowers. The move, reported by National Mortgage Professional, marks a notable shift in how the mortgage lender evaluates applicants and could broaden access to home loans for consumers whose credit profiles are better captured by VantageScore models than by traditional FICO scores.
Why now: The change could affect how millions of mortgage applicants are evaluated and priced, with potential savings for borrowers.
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Evidence
- Rocket Makes VantageScore Its Default After Testing Finds Borrower Savings · National Mortgage Professional
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