Fannie Mae Announces November 2025 Disclosure Enhancements to Support VantageScore 4.0

On July 8, 2025, U.S. Federal Housing (FHFA) announced that lenders will be able to use the VantageScore® 4.0 credit model or Classic FICO® via the tri-merge credit report requirement. To learn more, please refer to Fannie Mae’s Credit Score Models and Reports Initiative webpage.

In preparation for the delivery of Classic FICO or VantageScore 4.0 (VS4) credit scores, Fannie Mae will update its Single-Family mortgage-backed securities (MBS) disclosure files (in alignment with Freddie Mac) and its Excess Servicing Fee (ESF) files in November. In general, the credit score fields currently used for disclosure will be renamed to "Classic FICO," and existing filler fields will be repurposed or new fields added to disclose the VS4 scores.

Effective November 17, 2025, our PoolTalk® disclosure and corresponding files (issuance and monthly loan-level, security and security supplemental), as applicable, will be updated with the changes and additions to support this initiative. The Glossary updates, which include the file and header changes, can be found here, and the corresponding sample/test files which incorporate the changes are available here.

Upon implementation, for both Classic FICO and VS4, the credit scores will be disclosed as Not Available (9999) if not provided or outside the range of less than 300 to greater than 850. For loans in securities issued prior to December 2025, the VS4 credit score will be disclosed as Not Applicable (7777). Similar to Classic FICO, no values will be provided for the VS4 credit scores for securities issued prior to May 1996.

For questions, please contact the Fannie Mae Investor Help Line at 1-800-232-6643, Option 3 or by e-mail.