FICO vs. VantageScore 4.0: The New Rules of Credit Scoring Explained

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What if I told you that the biggest reason your clients aren’t getting approved for mortgages isn’t their debt or income, but an outdated credit scoring system?

For decades, if your clients wanted a mortgage backed by Fannie Mae or Freddie Mac, they had to pass the classic FICO test. No exceptions. It didn’t matter if they’d paid their rent on time for 10 years or if their utility bills were flawless. If it wasn’t in the FICO model, it didn’t count.

But now, for the first time ever, lenders can choose between two models: FICO or VantageScore 4.0. This game-changing shift is finally breaking FICO’s decades-long monopoly and giving your clients a chance to score a home, maybe for the first time in their lives.

In today’s episode, I’m breaking down the advantages of VantageScore 4.0 and showing you how you can capitalize on this change to scale your credit repair business.

Key Takeaways:

00:00 Intro
00:57 The FICO Test vs. VantageScore 4.0
02:15 Business Opportunity for Credit Heroes
03:21 Historical Context and Significance of FICO
05:03 Challenges in Adopting VantageScore 4.0
06:19 My Final Thoughts
07:03 Outro

More Resources:

Get a free trial to Credit Repair Cloud: https://signup.creditrepaircloud.com/

Get my free credit repair training: https://w.creditrepaircloud.com/free-training-c

5 Possible Reasons and How to Fix Them: https://www.youtube.com/watch?v=TqQYF1f4Kcw&feature=youtu.be

Get a Merchant Account: http://www.creditrepaircloud.com/merchant

Get Our TSR Compliance Checklist: https://www.creditrepaircloud.com/training-and-resources/tsr-compliance-checklist

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Видео FICO vs. VantageScore 4.0: The New Rules of Credit Scoring Explained канала Credit Repair Cloud - Daniel Rosen