Skip to content

CHLA Responds to Bill Pulte Being Nominated for FHFA Director CHLA Supports Director Pulte’s Push to Modernize Credit Scoring; Warns More FICO Price Hikes Coming this Fall

Washington, D.C. – July 16, 2025 – The Community Home Lenders of America (CHLA) sent a letter to FHFA Director Pulte commending him for his recent decision to speed the adoption of VantageScore into the mortgage market, and stating that lenders fully expect Fair Isaac to raise prices on mortgage credit scores again this year. The letter offers additional ideas on how FHFA can continue to reform this market and save Americans more of their hard-earned dollars. “CHLA commends FHFA Director Pulte for taking decisive action to reform this monopoly market, ” said Scott Olson, Executive Director of CHLA. “At the same time, our lenders believe that come the Fall, the price for mortgage credit scores will spike again, adding insult to injury for young American families. CHLA continues to weigh in on the need to curb excessive credit score price hikes, offering constructive suggestions to accomplish the Director’s reform goals.” The CHLA letter to Director Pulte suggests that FHFA should :
  1. Call for no more mortgage credit score price hikes, as Fair Isaac has increased the cost of a credit pull by 700% in the last 30 months without losing any market share, a clear sign of its unmitigated monopoly pricing power;
  2. Mandate that the historical data be released and be allowed to compare with the other scores (FICO/10T/Vantage, and any other models approved in the future). This necessary action will help speed the adoption of VantageScore into the marketplace.
  3. Direct Fannie Mae and Freddie to make & execute plans for new subsidiaries to measure credit-worthiness of borrowers–subsidiaries that, once viable, would be sold to the market to increase competition here.
The letter goes on to note that, “You have taken an excellent first step in reining in a monopoly marketplace, whereby the Fair Isaac management team—and no one else—sets the credit-pull price based on whatever number appeals to them. No one else had a say until you made this change.” CHLA has been the industry leader in calling out FICO the last few years for their excessive credit score price hikes – including a CHLA White Paper on the subject last year https://www.communitylender.org/wp-content/uploads/2025/07/FHFADirectorJuly16.pdf.