Analysts suggest that the proprietary credit scores of the GSEs, if released prior to pooling loans into MBS, could serve as the basis for a new category of specified pool.

Economists note that the pricing of mortgage credit risk depends not only on the quality of the underlying mortgages but also on who ultimately bears that risk.

MBS investors are likely to charge a pay-up for securities backed by mortgages underwritten with VantageScore — at least until they’re confident prepayment speeds won’t accelerate.