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

Join Our FREE Start Repairing Credit Challenge: http://startrepairingcredit.com/   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told you that the biggest reason your clients aren’t getting approved for mortgages isn’t their debt or income, but an outdated credit scoring system?For decades, if your clients wanted a mortgage backed by Fannie Mae or Freddie Mac, they had to pass the classic FICO test.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.Tune in! Key Takeaways:00:00 Intro 00:57 The FICO Test vs. VantageScore 4.002:07 Business Opportunity for Credit Heroes03:13 Historical Context and Significance of FICO04:55 Challenges in Adopting VantageScore 4.006:10 My Final Thoughts 06:52 Outro  Additional Resources:Get a free trial to Credit Repair CloudGet my free credit repair training  5 Possible Reasons and How to Fix ThemMake sure to subscribe so you stay up to date with our latest episodes.

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