Possible mortgage-credit reporting change could reshape Fannie and Freddie loans

Event date: October 2, 2026. Bloomberg Law reported that the Federal Housing Finance Agency may direct Fannie Mae and Freddie Mac to require lenders to use credit data from two major bureaus rather than three. The report said an announcement could come within weeks, possibly when FHFA Director Bill Pulte speaks at a mortgage-industry conference on October 12. Reuters reported that shares of Fair Isaac, TransUnion and Equifax fell after the report.

What is confirmed is narrower. FHFA's official credit-score policy page says the agency is modernizing mortgage scoring and that Fannie Mae and Freddie Mac expanded access to VantageScore 4.0 for approved lenders on September 9. The official page does not confirm a new two-bureau requirement.

The possible change could reduce lenders' data costs and alter the competitive position of credit-score providers, but it does not automatically mean lower mortgage rates or easier approval. Borrowers would still face underwriting rules covering income, debt, loan-to-value ratios and payment history.

Reader question: Will this immediately make mortgages cheaper? No. The reported plan is not final, and any savings would depend on implementation and lender pricing.