Lender Letter (LL-2026-06)

To: All Fannie Mae Single-Family Sellers VantageScore® 4.0 Broad Lender Availability

This Lender Letter provides information about VantageScore 4.0 expansion to all lenders.

Effective: These changes are effective immediately. Lenders may begin originating and delivering eligible loans using VantageScore 4.0 as of the date of this Lender Letter.

Lenders who are not operationally ready to use VantageScore 4.0 may continue using the eligible Classic FICO® credit score models in accordance with existing Selling Guide requirements.

Fannie Mae will continue to provide additional guidance and implementation resources as the industry advances toward broader credit score modernization, including future implementation of FICO Score 10T.

Desktop Underwriter® (DU®) has been updated to permit credit reports using VantageScore 4.0 for all loan casefiles underwritten through DU Version 12.1. The Selling Guide will be updated at a later date to reflect VantageScore 4.0 requirements.

With the guidance of U.S. Federal Housing (FHFA), and in coordination with Freddie Mac, we are expanding the availability of VantageScore 4.0 to all Fannie Mae-approved lenders, without prior written approval. All lenders may use VantageScore 4.0 when originating and selling eligible loans to Fannie Mae. This expansion follows the initial implementation of VantageScore 4.0 through a limited lender rollout and reflects our continued, measured approach to supporting a modernized, competitive credit score framework while maintaining appropriate risk management and operational controls.

Note: FICO Score 10T is not currently eligible for delivery. We will provide additional guidance when FICO Score 10T is available.

VantageScore 4.0 availability

Effective immediately, lenders may use the following VantageScore 4.0 versions for loans underwritten through DU:

• Equifax VantageScore 4.0;
• Experian VantageScore 4.0; and
• TransUnion VantageScore 4.0.

When a lender elects to use VantageScore 4.0, they must request VantageScore 4.0 from each of the three credit repositories when ordering a new credit report. The existing requirements related to unavailable scores, insufficient credit information, and frozen credit continue to apply.

A lender may select either Classic FICO or VantageScore 4.0 for an eligible loan; however, the same credit score model must be used for all borrowers on a single loan. The credit report must be maintained in the loan file in accordance with our Selling Guide.

Loan eligibility and representative credit score

Unless otherwise specified in this Lender Letter, existing Selling Guide requirements for determining the representative credit score and loan-level credit score continue to apply.

For manually underwritten loans, lenders must continue to only use Classic FICO and must comply with the applicable minimum credit score requirements in our Selling Guide and Eligibility Matrix.

Loan-level price adjustments

Our LLPA Matrix has been updated to include guidance outlining applicable pricing for loans delivered using the VantageScore 4.0 credit score model.

Loan delivery

Lenders must deliver the representative credit score and all other required borrower-level and loan-level credit score data in accordance with existing Loan Delivery requirements.

Lenders must ensure the credit score model used for underwriting and pricing is accurately reflected in the loan data delivered to Fannie Mae and that all applicable credit score information is retained in the loan file.

For any loan originated using VantageScore 4.0, lenders must deliver Special Feature Code 067.

Lenders may contact their Fannie Mae Account Team if they have questions about this Lender Letter. Have guide questions? Get answers to all your policy questions, straight from the source. Ask Poli.