Hi, I’m Adam DeSanctis with the Mortgage Minute, the latest news from the Mortgage Bankers Association. Last week, FHA released a mortgagee letter adding Vantage Score 4.0 and FICO Score 10T as acceptable credit scoring models alongside classic FICO. The changes apply to FHA case numbers assigned on or after January 1st, 2027, with new requirements for determining the minimum decision credit score when multiple models are submitted. Both alternative models can score more borrowers, potentially expanding access to mortgage credit for consumers who may not receive a score under traditional models. FHA has also released implementation resources and will host virtual office hours in November and January. MBA will continue engaging with FHA and other housing agencies to address implementation challenges, support lender readiness, and align these changes with broader GSE credit scoring reforms. We encourage members to review FHA’s guidance and participate in the upcoming office hours ahead of the January deadline. That’s it for this week. I hope to see many of you in Chicago this week for MBA Annual. If you see me, stop me and say hi. It should be a great time.
Adam DeSanctis, VP, Communications at Mortgage Bankers Association
As a strategic public affairs and communications executive with nearly two decades of experience, Adam has deep expertise in strategy, management, and media relations. He is widely regarded as an expert in a variety of communications, including advocacy, brand, executive, crisis, grassroots, and social media. In his career, he has been the MBA spokesperson on a wide variety of real estate research and advocacy-related issues, promoted MBA research and advocacy efforts to financial, political, and trade industry media and on MBA’s social media channels, and secured media opportunities for MBA leadership on key real estate trends and issues, generated media coverage for MBA’s research and data on mortgage applications, credit availability, homebuilder applications, mortgage forbearance/delinquencies, commercial real estate originations, and forecasts, and other industry analysis, developed key strategic initiatives for MBA’s organizational public affairs plan, media relations and member communications support for mPower, MBA’s Opens Doors Foundation and MBA’s Diversity, Equity, and Inclusion programs.