Lenders May, Not Must, Use VantageScore 4.0
Matthew is a real estate agent. His buyer looks at him and says, "My lender has to use VantageScore 4.0." Matthew isn't sure whether that is true. He doesn't want to agree with something wrong, and he doesn't want to wave it off and sound dismissive. Matthew is a fictional character, but a situation like this comes up often for agents and the buyers they serve.
Why this question is showing up
VantageScore 4.0 has been in the news in mortgage circles, and that coverage can leave a simple impression: the scoring model changed, so everyone must now use the new one. Buyers hear that and repeat it with confidence. Agents hear it from buyers and wonder if they missed an update.
The truth is more precise, and the precision matters. Allowed and required are two very different things.
What the FHFA actually says
The FHFA's Credit Scores policy page, updated 2026-09-09, is the place to go for the real wording. Here is the sentence that matters most for Matthew's buyer:
"Lenders may continue to use Classic FICO credit scores or use VantageScore 4.0 in accordance with the requirements in the Enterprises' Selling Guides."
Read it slowly. Lenders may continue to use Classic FICO. Or they may use VantageScore 4.0. The word may appears, and the word must does not. The page also explains that approved lenders no longer need prior written approval to use VantageScore 4.0 when originating and selling eligible loans to Fannie Mae and Freddie Mac. That is an expansion of availability. It is not a mandate.
What this means in plain terms
There are three takeaways worth remembering:
First, VantageScore 4.0 is now available to approved lenders without the earlier approval step.
Second, Classic FICO is still an option. Nothing in the quoted language takes it away.
Third, the choice of score model rests with the lender, and it is made in line with the requirements in the Selling Guides.
So when a buyer insists that their lender must use VantageScore, the statement simply does not match the rule.
How Matthew handles it
Matthew stops trying to settle a debate about scores. Instead he does two small things. He corrects the premise, kindly and briefly: "It is the lender's choice." Then he asks the next useful question: which score model does the buyer's lender use?
That second step moves the conversation from a rumor to a real answer. The buyer doesn't have to feel corrected in a harsh way, and Matthew doesn't have to guess about a lender's process he can't see.
The one thing you can do today
Next time a buyer or a fellow agent says a lender must use VantageScore, use this line: "It is the lender's choice." Then ask which score model the lender uses. You can also point them to the FHFA Credit Scores page at fhfa.gov/policy/credit-scores so they can read the wording themselves.
This matters because buyers often build expectations around what they have heard. If they believe a particular model is required, they may focus on the wrong thing or feel unnecessary worry. Accurate language early in the conversation helps everyone plan around the real process.
Why the word may is the whole story
It is easy to read a policy update and remember only the headline. But the headline version leaves out the exact thing that affects your conversation with a buyer. VantageScore 4.0 is open to approved lenders. Classic FICO remains available. The lender decides. That is the rule, and it is short enough to remember.
Talk it through
If you are a real estate agent or referral partner and a buyer has questions about how credit scores fit into their loan, I am happy to talk it through. I am Jason Sharon, a licensed mortgage broker with Home Loans Inc, and my approach is simple: I find the path. Call 843-LOW-RATE.
Home Loans Inc - Jason Sharon, Mortgage Broker. Company NMLS #1728740, Jason Sharon NMLS #1281448. Equal Housing Opportunity.
