Your Buyer Has Two Credit Scores Now, and the Lender Decides Which One Counts
Denied One Week, Approved the Next
A situation that comes up often for agents and buyers looks like this: a buyer applies with one lender and gets turned down. The very same week, with no change to their income, debts, or credit habits, a different lender approves them. Picture a buyer named Michelle in exactly that spot. Same financial picture, two completely different answers. The question nobody was asking was the right one: which credit score model did each lender actually use?
The Assumption That Trips People Up
Most agents and buyers still assume there is one credit score, one number, one truth about a borrower's credit. That assumption used to be closer to reality. It is not anymore, and not knowing it can cost a buyer a home they actually qualify for.
What Changed, in the Lender's Own Words
Here is the actual policy language from FHFA, updated September 9, 2026:
"On September 9, 2026, the Enterprises expanded the availability of VantageScore 4.0 to all approved lenders, removing the requirement for prior written approval. All Fannie Mae and Freddie Mac approved lenders may now use VantageScore 4.0 when originating and selling eligible loans to the Enterprises. ... Lenders may continue to use Classic FICO credit scores or use VantageScore 4.0 in accordance with the requirements in the Enterprises' Selling Guides."
In plain terms: lenders are no longer required to get special sign-off to use VantageScore 4.0. Every approved lender can now choose Classic FICO or VantageScore 4.0 for conventional loans sold to Fannie Mae or Freddie Mac. That is a real decision each lender makes, loan by loan, and it is not uniform across the industry.
Why This Matters for a Buyer Like Michelle
Classic FICO and VantageScore 4.0 do not always produce identical numbers for the same person. They weigh credit history differently in places. For a buyer sitting comfortably above every threshold, the difference may never show up. For a buyer sitting close to a cutoff, which is exactly where many first-time and credit-rebuilding buyers sit, the model choice can be the difference between an approval and a denial. That is the gap that affected Michelle's experience. Nothing about her finances changed between the two applications. The lender's model choice did.
What to Do With This Information Today
If you are an agent, a referral partner, or a buyer, the tactical move is simple: ask the lender which credit score model they use and why, before you ever submit a file. Not after a denial. Before. That single question tells you whether a borderline buyer is being evaluated fairly, and whether a second opinion from another lender is worth pursuing.
A denial from one lender is not the final word anymore. It may just mean that lender's model choice did not work in your buyer's favor.
Finding the Path
My approach is to know which model fits a borrower's file before we ever submit it, not to find out after a denial. If you have a buyer who got turned down somewhere else, or you simply want a file reviewed with both models in mind, reach out. I am Jason Sharon, a licensed mortgage broker with Home Loans Inc, serving Charleston and the surrounding region. Call 843-LOW-RATE and let's find the path for your buyer.
Equal Housing Opportunity. Home Loans Inc - Jason Sharon, Mortgage Broker. Company NMLS #1728740, Jason Sharon NMLS #1281448.