New VantageScore 4.0 Mortgage Credit Score Simulator API Helps Lenders Say “Yes” to More Mortgage Applicants

• New VantageScore 4.0 Credit Score Simulator API Provides Actionable Credit Score Improvement Plans
• New API Simulates and Forecasts Credit Score for All Three Credit Reports: Equifax, Experian and TransUnion
• Integrates Seamlessly into Existing LOS Systems

SAN FRANCISCO--(BUSINESS WIRE)--VantageScore today announced a new market-leading innovation enabling mortgage lenders to effectively qualify more consumers for their next mortgage. The VantageScore 4.0 Mortgage Credit Score Simulator API allows mortgage lenders and resellers to simulate credit report improvements on a consumer's credit file from all of the three credit bureaus (Equifax, Experian, and TransUnion). The simulator applies the simulated action and instantly returns the projected VantageScore 4.0 credit score, based on the actual VantageScore 4.0 credit model algorithm.

VantageScore 4.0 is the only modern trended data credit score approved and implemented by all major government-sponsored mortgage enterprises, including Fannie Mae, Freddie Mac, most of the Federal Home Loan Banks and the Department of Veterans Affairs.

“Each year, roughly 10 to 14 million Americans apply for a mortgage, and fewer than six in ten end up with a loan,” said Dr. Rikard Bandebo, EVP, Chief Strategy Officer and Chief Economist at VantageScore. “The VantageScore Simulator API enables consumers to understand credit improvement actions that can improve their VantageScore 4.0 credit score to enable them to qualify for a mortgage. With that level of transparency, qualified borrowers can prepare actionable credit improvement plans and make homeownership dreams a reality.”

Key attributes of the VantageScore Simulator API include:

PROVIDES EQUIFAX, EXPERIAN AND TRANSUNION VANTAGESCORE 4.0 CREDIT SCORES: Because most mortgage lenders use the middle of the three credit scores to underwrite mortgages, the new API provides all three credit bureau simulated credit scores.

PROVIDES ACTIONABLE CREDIT IMPROVEMENT PLANS: The VantageScore Simulator API provides eight credit score simulation scenarios, educating borrowers on the ways certain positive and negative actions will affect their credit score. The simulator shows how positive actions, such as paying credit installments on time and adding rental payment history, can improve a borrower’s score, while negative actions, such as paying late, can detract from it.

MORE QUALIFIED BORROWERS CONVERT TO APPROVED: Over time, and based on recommended consumer actions, the VantageScore Simulator API converts a meaningful share of the millions of annually denied creditworthy and qualified mortgage applicants into approved borrowers — expanding homeownership access at market scale and at a time when Americans need it the most.

INTEGRATES SEAMLESSLY INTO EXISTING LOAN ORIGINATION SYSTEMS: VantageScore’s Simulator API integrates into existing Loan Origination Systems without rebuilding them, enhancing credit-tech platforms, simulators and lender-facing tools with ease.

To learn how to integrate VantageScore’s Simulator API, visit https://simulator.vantagescore.com.

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.