Fhfa, Fico Reach Agreement To Release Historical Fico Score 10t Data

The Federal Housing Finance Agency (FHFA) and Fair Isaac Corp. (FICO) have reached an agreement on the terms and conditions for the release of historical FICO Score 10T data, a step aimed at advancing the adoption of the new credit score by the government-sponsored enterprises (GSEs).

“The process of making this data available to the market has begun. In the coming weeks, the three credit bureaus will deliver FICO Score 10T data to the GSEs,” Julie May, vice president and general manager for scores at FICO, said Monday in a blog post. “We expect that the GSEs will conduct their own validation of the data and make FICO Score 10T historical datasets, which will be updated to also include more recent data through 2025, accessible to market participants.”

The FHFA did not immediately respond to HousingWire’s request for comment.

The release of VantageScore 4.0 historical credit data was announced in July 2024, covering individual mortgage scores from 2013 to 2023. By contrast, negotiations with FICO took longer. 

The FHFA told HousingWire in July, when FICO had raised concerns after not hearing from the agency for nine months, that FICO’s proposed terms were criticized by a wide range of industry stakeholders. The FHFA said at the time that it was negotiating updated terms. 

Competition has increased in the credit score business, with VantageScore and FICO each publishing analysis claiming their scores more accurately reflects borrowers’ financial profiles and better predicts defaults. 

Historical credit data is critical for the mortgage industry, allowing lenders, investors, risk modelers and other stakeholders to validate credit score performance, support risk modeling and comply with regulatory requirements.

FICO also offers an early adopter program for Score 10T, launched in 2023, which allows lenders to integrate the score into underwriting and risk management. More than three dozen lenders participate, including seven of the top 10 mortgage lenders.

FICO says Score 10T incorporates advanced modeling techniques and uses comprehensive consumer data, including trended credit information and rental payment history.

“The forthcoming release of historical data for FICO Score 10T will enable market participants to conduct their own analyses and develop data-driven strategies for adoption and integration,” May said.