After a 25-year monopoly of credit scoring home loans for mortgage giants Fannie Mae and Freddie Mac, FICO finally has some competition.

VantageScore, owned by the three major credit bureaus Experian, Equifax and Transunion, will be another choice for mortgage shoppers and mortgage loan originators in respect to mortgage approvals and loan pricing. The program, effective Nov. 17, must be fully implemented by Fan, Fred and mortgage lenders.

The biggest winners in this new competition will be folks with either no credit or little credit, also known as “a thin file.”

VantageScore provides a credit score with as little as one account that is just 1 month old. For example, such an account can be a secured or unsecured credit card, rent or utility payment. This is a unicorn, especially for un

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