{"id":62911,"date":"2026-04-29T03:05:02","date_gmt":"2026-04-29T01:05:02","guid":{"rendered":"https:\/\/housesmarketplace.com\/the-gathering-2026-mortgage-execs-debate-the-hidden-risks-of-credit-score-reform\/"},"modified":"2026-04-29T03:05:02","modified_gmt":"2026-04-29T01:05:02","slug":"the-gathering-2026-mortgage-execs-debate-the-hidden-risks-of-credit-score-reform","status":"publish","type":"post","link":"https:\/\/housesmarketplace.com\/ru\/the-gathering-2026-mortgage-execs-debate-the-hidden-risks-of-credit-score-reform\/","title":{"rendered":"The Gathering 2026: Mortgage execs debate the hidden risks of credit score reform"},"content":{"rendered":"
\n

Mortgage industry executives say the shift to new credit score models and lender choice could raise mortgage delinquencies, reshape pricing grids at the government-sponsored enterprises (GSEs) and ultimately push costs back onto borrowers, even if the costs for scores fall on the front end. <\/p>\n

\u041c\u0438\u043d\u0438\u0441\u0442\u0435\u0440\u0441\u0442\u0432\u043e \u0436\u0438\u043b\u0438\u0449\u043d\u043e\u0433\u043e \u0441\u0442\u0440\u043e\u0438\u0442\u0435\u043b\u044c\u0441\u0442\u0432\u0430 \u0438 \u0433\u043e\u0440\u043e\u0434\u0441\u043a\u043e\u0433\u043e \u0440\u0430\u0437\u0432\u0438\u0442\u0438\u044f \u0421\u0428\u0410 <\/strong>(HUD) \u0421\u0435\u043a\u0440\u0435\u0442\u0430\u0440\u044c \u0421\u043a\u043e\u0442\u0442 \u0422\u0435\u0440\u043d\u0435\u0440<\/a> \u0438 \u0424\u0435\u0434\u0435\u0440\u0430\u043b\u044c\u043d\u043e\u0435 \u0430\u0433\u0435\u043d\u0442\u0441\u0442\u0432\u043e \u0436\u0438\u043b\u0438\u0449\u043d\u043e\u0433\u043e \u0444\u0438\u043d\u0430\u043d\u0441\u0438\u0440\u043e\u0432\u0430\u043d\u0438\u044f<\/strong> (FHFA) \u0414\u0438\u0440\u0435\u043a\u0442\u043e\u0440 \u0411\u0438\u043b\u043b \u041f\u0443\u043b\u0442<\/a> on April 22 \u043e\u0431\u044a\u044f\u0432\u043b\u0435\u043d\u043e<\/a> moves to adopt \u0424\u0418\u041a\u041e<\/strong> 10T and VantageScore<\/strong> 4.0 as alternatives to FICO Classic.\u00a0<\/p>\n

The FHFA signaled loan-level price adjustments (LLPAs) for loans submitted under the new models, which some in the industry believe will be more costly for lenders.<\/p>\n

Recent studies suggest that for about $12 trillion in mortgages originated between 2013 and 2023, \u0424\u0430\u043d\u043d\u0438 \u041c\u044d\u0439<\/strong> \u0438 \u0424\u0440\u0435\u0434\u0434\u0438 \u041c\u0430\u043a<\/strong> collected an estimated $110 billion to $119 billion in revenue from LLPA<\/a> based on Classic FICO Scores.<\/p>\n

\u201cIf we move to VantageScore 4.0 \u2014 generally their scores are higher, doesn\u2019t necessarily mean the credit is better, a very different algorithm \u2014 it (fee income) would drop by about $8 billion. If we move to lender choice for the highest score chosen at all times, the GSE income is at $93 billion,\u201d said \u0414\u0436\u0435\u043d\u043d\u0438\u0444\u0435\u0440 \u041c\u0430\u043a\u0413\u0438\u043d\u043d\u0435\u0441\u0441<\/a>, \u0433\u0435\u043d\u0435\u0440\u0430\u043b\u044c\u043d\u044b\u0439 \u0434\u0438\u0440\u0435\u043a\u0442\u043e\u0440 Pivot Financial.\u00a0<\/strong><\/p>\n

\u00ab<\/strong>How many people believe that when this happens, if it ever does, that the GSEs are not going to look to collect the $17 billion? The LLPAs grids will be adjusted to add an extra expense factor to the rest of the grid. And is that what\u2019s in the best interest of our borrower?\u201d<\/p>\n

McGuinness and other industry experts spoke on stage Tuesday during a session at \u0416\u0438\u043b\u044c\u0435\u041f\u0440\u043e\u0432\u043e\u043b\u043e\u043a\u0430<\/strong>'s \u0421\u0431\u043e\u0440<\/a> in Austin. The debate happens as federal agencies move to modernize credit scores amid increasing prices, a step defended by trade groups.\u00a0<\/p>\n

\u201cWe want many choices, because that keeps markets robust and restraints price increases. And we want modern tools,\u201d said Rob Zimmer<\/a>, director of external affairs for the \u041a\u0440\u0435\u0434\u0438\u0442\u043e\u0440\u044b \u043e\u0431\u0449\u0435\u0441\u0442\u0432\u0435\u043d\u043d\u043e\u0433\u043e \u0436\u0438\u043b\u044c\u044f \u0410\u043c\u0435\u0440\u0438\u043a\u0438 <\/strong>(\u0427\u041b\u0410<\/a>). \u201cNow the mortgage industry is culturally conservative because the margins are small.\u201d<\/p>\n

According to Zimmer, \u201cit won\u2019t take a genius to guess that \u041a\u043e\u043d\u0433\u0440\u0435\u0441\u0441<\/strong> and the (Trump) administration\u201d notice a lack of consensus, and \u201cthey\u2019re not taking the lead on this.\u201d<\/p>\n

Gamification risk<\/h2>\n

Andrew Davidson, president of Andrew Davidson & Co.<\/strong>, added that while the delinquency<\/a> levels line up pretty well among the various credit scores, the distributions are very different.<\/p>\n

\u201cWe\u2019re so used to the idea of a credit score being about the borrower. What we don\u2019t realize is that these scores are very different. They group the borrowers in very different ways. There\u2019s no simple mapping between the scores,\u201d Davidson added.<\/p>\n

According to him, if people start choosing the higher of the two scores, there\u2019s a potential increase of 40% in delinquency across the entire range.<\/p>\n

\u0421\u043e\u0433\u043b\u0430\u0441\u043d\u043e \u043d\u0435\u0434\u0430\u0432\u043d\u0435\u043c\u0443 paper<\/a> published by Davidson\u2019s team, 35% of the 245 million scored consumers in the dataset had at least one bureau score that differed from the traditional tri-merge result by 10 points or more. Another 18% had a variance of at least 20 points, while 7% saw differences of 40 points or more.<\/p>\n

\u201cThe investors aren\u2019t that interested in whether or not it works. They\u2019re interested in protecting themselves, and their biggest focus is on adverse selection,\u201d Davidson said. \u201cWhat they need to be assured is that the system is not being gamed \u2014 that you\u2019re using this to save money, not to provide the misinformation about the risk.\u201d<\/p>\n

One of the main concerns is with gamification \u2014 lenders or consumers adopting a \u201chighest score\u201d selection method, which could lead to substantial increases in credit risk, with potential delinquency increases reaching high levels.<\/p>\n

\u0413\u0440\u0435\u0433 \u0428\u0435\u0440<\/a>, managing director at \u041a\u0440\u0435\u0434\u0438\u0442\u043e\u0432\u0430\u043d\u0438\u0435 \u041d\u0424\u041c<\/strong>, believes gamification is a real risk. This could occur if Fannie and Freddie \u2014 which were supposed to focus on homeownership and never supposed to be \u201ccash cows,\u201d he said \u2014 will try to get back the lost revenues via LLPAs.<\/p>\n

\u201cLoan officers are way too slick; they\u2019ll find a way. For instance, you can tell a borrower to pull their credit report prior to you pulling the credit report. In a lot of instances, that\u2019s free, costs nothing,\u201d Sher said. \u201cThey can just deliver the highest score for you that\u2019s been gamified. How are we going to police that? It\u2019s not going to happen? Well, it\u2019s impossible to police.\u201d\u00a0<\/p>\n

But Sher provided a positive outlook too, taking into account the development of \u0438\u0441\u043a\u0443\u0441\u0441\u0442\u0432\u0435\u043d\u043d\u044b\u0439 \u0438\u043d\u0442\u0435\u043b\u043b\u0435\u043a\u0442<\/a> and new technologies. <\/p>\n

\u201cWe really need to hang on to that,\u201d Sher said. \u201cThis conversation right here is just a bridge from all this craziness, all this ratcheting up of the prices, to be in a world where we don\u2019t even potentially need credit scores.\u201d<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"

Mortgage industry executives say the shift to new credit score models and lender choice could raise mortgage delinquencies, reshape pricing grids at the government-sponsored enterprises (GSEs) and ultimately push costs back onto borrowers, even if the costs for scores fall on the front end. U.S. Department of Housing and Urban Development (HUD) Secretary Scott Turner […]<\/p>","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-62911","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"yoast_head":"\nThe Gathering 2026: Mortgage execs debate the hidden risks of credit score reform - Houses Marketplace<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/housesmarketplace.com\/ru\/the-gathering-2026-mortgage-execs-debate-the-hidden-risks-of-credit-score-reform\/\" \/>\n<meta property=\"og:locale\" content=\"ru_RU\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Gathering 2026: Mortgage execs debate the hidden risks of credit score reform\" \/>\n<meta property=\"og:description\" content=\"Mortgage industry executives say the shift to new credit score models and lender choice could raise mortgage delinquencies, reshape pricing grids at the government-sponsored enterprises (GSEs) and ultimately push costs back onto borrowers, even if the costs for scores fall on the front end. 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