PennyMac Financial Services, Inc. (NYSE: PFSI) announced it has completed deployment of VantageScore 4.0 across its entire production platform, covering consumer direct, broker direct, and correspondent lending channels.

The rollout follows April 2026 announcements from the Federal Housing Finance Agency (FHFA) and the Department of Housing and Urban Development (HUD) that opened conventional and FHA mortgage markets to credit score competition for the first time in decades. VantageScore 4.0 incorporates trended data, evaluating how a borrower has managed credit over up to 24 months, compared with older models that assess a borrower using a single point-in-time snapshot.

David Spector, Chairman and CEO of PennyMac, said the company intends "to be at the vanguard of credit score modernization because we firmly believe it will lower costs and support homeownership across America."

PennyMac describes itself as the largest correspondent aggregator in the market. The company said its correspondent channel deployment extends the new scoring model to community lenders, credit unions, and regional banks that sell loans to PennyMac, and that it expects adoption in that channel to accelerate industry-wide uptake among hundreds of smaller lenders.

Spector added that credit scoring "has never had a competitive market, and borrowers have paid for that through their closing costs," and that lenders now have a basis for comparison they have not had before.

PennyMac is headquartered in Westlake Village, California, and was founded in 2008.