Amy Moses, vice president for strategic growth at the Mortgage Industry Standards Maintenance Organization, said a widespread shift to eNotes will occur when industry participants recognize the economic benefits and when not participating in the eNote space would make them less competitive.
The consumer groups raised various legal arguments about the final rule, including that it was issued in violation of various laws that set requirements for the rulemaking process.
“There’s a tremendous economic incentive to adopt VantageScore, it’s just gonna take some time to work it through,” said Chris Cartwright, CEO of TransUnion.