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The Score
Join Jeff Richardson he hosts VantageScore’s newly recast podcast, THE SCORE podcast, for the lending community. Each week he and his guests—journalists, academics, researchers, and others in the know—explore concepts important to lenders like you. Tune in and learn what you need to know to tap new credit-worthy borrowers to grow your portfolio—while supporting financial equality and inclusion.
The Score
Bank of America: VantageScore 4.0 is “Better” for Mortgage
To date, nearly all mortgage loans continue to use outdated credit scoring models, though in other loan categories, much newer, more predictive, and inclusive models are most commonly used.
But the mortgage industry is advancing. By next year, all mortgage loans backed by Fannie Mae and Freddie Mac will require a VantageScore 4.0 credit score. In advance of this change, Bank of America recently issued an independent research report analyzing the VantageScore 4.0 mortgage data set.
Pratik Gupta is the Head of CLO & RMBS Research at Bank of America Securities. Pratik joins The SCORE this week to discuss the findings of Bank of America’s recent research into VantageScore 4.0. Pratik outlines his findings and reasons his team of analysts concluded it’s “better” for mortgage than the incumbent score.
Listen in to learn more.