what is one of the new credit scoring models that fhfha is implementing?

One of the new credit scoring models the FHFA is implementing is FICO 10T.

Quick Scoop: What’s Going On?

The Federal Housing Finance Agency (FHFA) is updating how Fannie Mae and Freddie Mac evaluate borrowers by moving away from the old “Classic FICO” score toward more modern models. As part of this update, FHFA has validated and approved two newer models: FICO 10T and VantageScore 4.0, which are designed to better capture recent consumer behavior and additional data like rental payments.

The New Models

• FICO 10T
  • Uses “trended” data that looks at patterns in how you handle credit over time (such as the last 24 months), not just a snapshot.

* Aims to be more predictive of default risk and to distinguish between people who are steadily paying down debt and those who are routinely revolving or increasing balances.

• VantageScore 4.0
  • Incorporates additional information, including factors like rent payment history when available, which can help score consumers who were previously “thin file.”

* Expected to expand access to credit for more borrowers while still giving lenders a more refined view of risk.

Why It Matters Right Now

• These changes are tied to a broader push under the Credit Score Competition Act to modernize mortgage credit scoring and allow more than one approved model.

• Implementation is being phased in over the next few years, with FHFA and the mortgage industry working through timelines, data access, and system changes so lenders can start using FICO 10T and VantageScore 4.0 for loans sold to Fannie Mae and Freddie Mac.

TL;DR: If you’re answering the exact question “what is one of the new credit scoring models that FHFA is implementing?”, a correct, up‑to‑date answer is: FICO 10T.

Information gathered from public forums or data available on the internet and portrayed here.