VantageScore CEO Tavares steps down, replaced by Hutchinson

• Quote: “I am humbled by all that VantageScore has achieved during my tenure.” – Silvio Tavares
• Supporting Data: VantageScore more than tripled its market presence during Tavares’ tenure.

Overview bullets generated by AI with editorial review.   

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Amid an escalating mortgage credit score war, VantageScore President and CEO Silvio Tavares is stepping down, the company announced Friday. 

VantageScore’s board of directors appointed Anthony Hutchinson, who has led the company’s public affairs and government relations efforts, to replace Tavares on an interim basis. The company denied requests for comment on the reasoning behind Tavares’ resignation.

“I am humbled by all that VantageScore has achieved during my tenure,” Tavares said in a press release. “Together, we consistently delivered industry leading innovation and growth at a very high scale. Along the way VantageScore responsibly expanded access to credit so that millions more creditworthy Americans can achieve their American dream.”

During his five-year tenure, the company more than tripled its market presence and saw widespread adoption of its crediting-scoring model throughout the mortgage industry. VantageScore is positioned for continued growth and innovation, driving the use of more predictive, inclusive tri-bureau credit scoring models, the company said.

Prior to his time at VantageScore, Tavares served as president and CEO of Digital Commerce Alliance, where he maintains a role as chairman of the board of directors, according to his LinkedIn.

Hutchinson has more than 30 years of housing finance, public policy and industry leadership experience. He joined VantageScore four years ago after holding senior positions at Freddie Mac, Fannie Mae and the National Association of Realtors. As interim president and CEO, he will work closely with VantageScore’s board and management team, helping to further advance its strategic priorities, according to the release.

“VantageScore is helping lenders make more predictive, inclusive and informed decisions across the credit lifecycle,” Hutchinson said in the release. “I look forward to working with the VantageScore management team and board of directors to build on our success and to drive continued innovation that opens up more financial opportunities for more consumers.”

VantageScore vs FICO

VantageScore has been active this fall in its efforts to gain a larger share of the mortgage credit scoring market. TransUnion, one of the three credit bureaus that jointly owns VantageScore, announced in September the extension of its discounted 99-cent pricing for Vantage 4.0 through the end of 2028. 

Federal Housing Finance Agency Director Bill Pulte also ordered Fannie Mae and Freddie Mac to accept VS4, and major lenders, like Rocket Mortgage and Pennymac, adopted the model.

Fair Issac Corp. responded two weeks ago with the launch of a flat fee initiative. The company will maintain its mortgage price for credit scores through its tri-merge resellers at $10 for “Preferred Program” members. The bundled deal includes both the classic FICO score and the newer 10T metric the government-sponsored enterprises plan to add alongside VS4.

Fairway Home Mortgage, Movement Mortgage and Rate all reported Friday they committed to the package. Meanwhile, CrossCountry released the results of a 60-day test of VS4, which found the model generated an average of $2,500 in savings on some loans.