Credit Scoring Workshop
Industry Workshop to Identify Operational Impacts of FHFA Credit Score Announcement
FHFA recently announced multiple credit scoring changes associated with loans delivered to the GSEs. The FICO 10T and VantageScore 4.0 credit score models have been approved for use by the GSEs and, following a transition period, lenders will be required to deliver both scores when available. In addition, it was announced that the GSEs will require two credit reports, instead of three, from national consumer reporting agencies. The impact of these changes is far reaching. These changes are likely to affect business policies, workflows, technology, data exchanges between organizations, and other aspects of the residential mortgage process. It is also possible that some entities will continue with the status quo for at least some period of time, resulting in logistical challenges for the industry.
To address these challenges head on, MISMO is hosting a workshop on Friday, January 13th in Delray Beach, Florida. The objective of the session is to identify and surface operational and technology impacts of the changes through a collaborative discussion with impacted industry stakeholders from across the entire mortgage ecosystem. We will delve into an in-depth discussion to ensure that impacted processes are identified as early as possible. Potentially impacted organizations are encouraged to send representation to the workshop.
Please Note: Credit Scoring Workshop is not open to the press.
FHFA Announcement on Credit Score Models
Logistics:
Date: Friday, January 13th, 2023
Time: 9am – 3pm ET
Location: The Workshop will be located at Opal Grand Oceanfront Resort & Spa at 10 N. Ocean Blvd. Delray Beach, FL 33483 concurrent with the MISMO Winter Summit. We regret to note that the hotel room block is full. Attendees may call the Reservations Office at 1.866.240.6316 to discuss their options.
Attendees: All potentially impacted industry stakeholders are welcome to participate including Lenders, Vendors, Credit Resellers, Credit Bureaus, MIs, FICO, Vantage Score, GSEs, FHFA, Housing Agencies, MBA, etc.
Registration:
- All attendees are requested to register, you can register for the workshop HERE.
- Registration is complementary for anyone already registered to attend the 2023 MISMO Winter Summit in-person. Please contact [email protected] to obtain the promo code.
- Registration for the workshop is $199 per person and includes breakfast and lunch.
- The event will be in-person only.
Special Note: While the Credit Scoring Workshop will be in-person only, MISMO will schedule a virtual briefing following the event to review workshop outcomes and findings. This site will be updated with the date/time of the briefing once it is scheduled.
Note: Sponsorship opportunities are available for this event. Want to know more? Contact Kelly Bradshaw at [email protected]