Mortgages Sold to Fannie, Freddie Should Use More Than FICO Scores, Regulator Says
The Federal Housing Finance Agency said Monday that it will require lenders that use credit scores for mortgage underwriting to use scores from both
Fair Isaac Corp.,
FICO 1.52%
the creator of FICO credit scores, and its competitor VantageScore Solutions LLC. Until now, mortgage lenders had to gauge most borrowers using only FICO scores if they wanted to sell a loan to
Fannie Mae
FNMA 1.31%
or…