Fairway Home Mortgage Now Accepts VantageScore 4.0 for Mortgages, Unlocking New Opportunities for Homebuyers

VantageScore 4.0 Offers Greater Efficiency for Lenders and Cost Savings for Borrowers

SAN FRANCISCO--(BUSINESS WIRE)--VantageScore today announced that Fairway Home Mortgage, one of the nation's leading mortgage lenders, has implemented the VantageScore 4.0 credit scoring model to help more creditworthy Americans qualify for home financing. By incorporating the advanced credit scoring model into its lending operations, Fairway leverages more comprehensive consumer credit data to identify qualified borrowers, improve lending decisions, and deliver more competitive mortgage financing options.

“Our goal is to make the path to homeownership easier and more attainable for the families we serve,” said Stacey M. Sprain, SVP of Credit Support & Vendor Relations at Fairway. “VantageScore 4.0 gives us another powerful tool to understand borrowers' financial profiles and recognize creditworthiness that traditional scoring methods may overlook. This is about putting better technology to work for homebuyers and creating more opportunities for Americans to purchase a home.”

“Mortgage lending is evolving, and lenders like Fairway are helping lead that transformation,” said Tony Hutchinson, EVP and Head of Public Affairs at VantageScore. “For too long, outdated credit scoring approaches have limited lenders' ability to fully evaluate borrower risk and recognize creditworthy consumers. Fairway's implementation demonstrates how modern credit scoring can address those limitations, improve mortgage economics and bring meaningful competition to a market that has needed it for decades.”

Fairway joins a growing number of mortgage lenders embracing VantageScore 4.0 to modernize underwriting and improve the economics of mortgage lending. VantageScore 4.0’s advanced analytics and use of trended credit data provide a more complete assessment of consumer credit behavior, helping lenders distinguish creditworthy borrowers who may be underserved by legacy scoring models. The implementation of VantageScore 4.0 for mortgage also creates opportunities to reduce lending costs and offer qualified borrowers more favorable mortgage rates, lower mortgage insurance premiums and additional financing flexibility.

VantageScore 4.0 is distributed by Experian, Equifax and TransUnion and supported by major mortgage technology providers, including Xactus, Calyx and Optimal Blue. VantageScore 4.0 has also received approval for use in mortgages guaranteed by Fannie Mae and Freddie Mac, while the Federal Home Loan Banks, Federal Housing Administration and U.S. Department of Veterans Affairs have also supported its use in mortgage originations.

Are you seeking to use VantageScore 4.0? Resources for lenders interested in using VantageScore 4.0 to responsibly identify more qualified borrowers using modern, data-driven and predictive scoring are available at www.vantagescore.com/lenders.

About VantageScore®

VantageScore is the fastest-growing credit scoring company in the U.S., and is known for the industry’s most innovative, predictive and inclusive credit score models. In 2024, usage of VantageScore increased by 55% to hit 42 billion credit scores. More than 3,700 institutions, including nine of the top 10 U.S. banks, use VantageScore credit scores and digital tools to provide consumer credit products or generate greater insights into consumer behavior. The VantageScore 4.0 credit scoring model scores 33 million more people than traditional models. With the FHFA allowing the immediate use of VantageScore 4.0 for Fannie Mae and Freddie Mac guaranteed mortgages, the company is also ushering in a new era for mortgage lending.

VantageScore is an independent joint venture company owned by Equifax, Experian and TransUnion.