Market Access & Competition - The Federal Housing Finance Agency (FHFA) will allow the use of Vantage Score for mortgages sold to Fannie Mae and Freddie Mac, aiming to increase competition in the credit score market [1] - Vantage Score includes 33 million more consumers compared to its competitor [3] - Over 3,700 banks, FinTech companies, credit unions, and government agencies currently use Vantage Score [14] - Vantage Score was previously excluded from the mortgage market due to an unintended monopoly [14] Vantage Score Advantages - Vantage Score incorporates alternative data, such as rental payment history, which is not considered by its competitor [5][6] - Vantage Score utilizes innovative and new analytics techniques [7] - Major banks like Bank of America and Chase have found Vantage Score to be better, leading to increased access to credit and lower risk for lenders [15] Impact on Home Buyers - Approximately 490 万 (4.9 million) consumers with a Vantage Score of 620 or above, who previously lacked a credit score with the competitor, may now be mortgage eligible [9][10] - This change could potentially unlock $1 trillion in incremental mortgages in the United States [10] - Owning a home is considered a key pathway to economic prosperity [12]