SharperLending Solutions
Supports VantageScore4 Usage
Yesterday's joint announcement by the Federal Housing Finance Agency (FHFA) and Housing and Urban Development (HUD) regarding the GSE's official acceptance of VantageScore4 (VS4) has the industry phasing into a new financial era.
Some of your clients may already be involved in the "pilot program” that was announced. For clients that are not yet involved, SharperLending Solutions has you and your clients covered.
Some of your clients may already be involved in the "pilot program” that was announced. For clients that are not yet involved, SharperLending Solutions has you and your clients covered.
SharperLending Solutions has supported the availability for you to get VS4 sub-codes (plus FICO 10T codes) from the bureaus to deliver to your clients for the past few years. Our team has worked with both GSEs to run extensive tests with sanitized and authorized VS4 test files. We are ready for you and your clients’ needs now and in the future.
Enable Products to Proceed with Delivering Alternate Credit Scores (ACS)
As you work with your clients to make decisions on enabling VS4 (and soon, FICO 10T), we want to highlight enabling the specific service on your products that will display the new scores on your outputs, plus within the raw data sent back to your LOS’s.
Until recently, not all industry players could accept these new scores. In 2024, XpertOnline was at the forefront of suppressing these ACS data elements to avoid disruption with integration partners. To ensure that VantageScore4 is delivered on your reports and within the XML, update your products to enable the service called “Include 10T/VS4 in Decisioning.” When set to 'Selected', these scores will be available on your credit reports in tandem with the Score Disclosure for each applicant, plus the FICO Classic scores, and within the XML.
- If your clients are not ready for this update, leave this service disabled. Those scores will be pulled but not sent to integration partners.
- If you would like assistance in enabling this service on a broader scale now or in the future, please reach out to Tickets@SharperLending.com for assistance.