“The use of VantageScore credit scores has grown 30%, far outpacing our competitors. That’s because VantageScore offers the most predictive, reliable and innovative credit scores for lenders, capital markets, and consumers. VantageScore 4.0 also scores 33 million more people than traditional models, which means banks can safely lend to more people, including fast-growing, traditionally ‘credit invisible’ demographics, such as communities of color.
2024 will be another banner year for VantageScore, as the FHFA has announced an accelerated timeline for implementation of VantageScore-backed, GSE-funded mortgage collateral. This will open the door for millions of new applicants, potentially creating up to $1 trillion in mortgage lending originations. Our momentum has never been greater than it is right now.”
Silvio Tavares, President and CEO of VantageScore, addressed attendees in a fireside chat at the 2024 RBC Capital Markets Global Financial Institutions Conference in New York on March 6. The fireside chat was hosted by Ashish Sabadra, Managing Director at RBC Capital Markets.