Anthony Hutchinson, VantageScore’s interim president and chief executive. Photo: VantageScore.
VantageScore said Friday that Silvio Tavares is stepping down as president and chief executive after five years, with Anthony Hutchinson named interim president and CEO while the board searches for a permanent successor.
Hutchinson previously led the credit-scoring company’s public affairs and government relations work. He joined VantageScore four years ago after holding senior positions at Freddie Mac, Fannie Mae and the National Association of Realtors, according to the company’s announcement.
The announcement did not give a reason for Tavares’ departure or a timetable for naming a permanent CEO. The board credited him with expanding the company’s presence in the mortgage credit-scoring market.
VantageScore is an independent joint venture owned by Equifax, Experian and TransUnion. Its scores are used by lenders to assess consumer credit. The company says its VantageScore 4.0 model can be used for mortgages guaranteed by Fannie Mae and Freddie Mac following Federal Housing Finance Agency approval.
Hutchinson said he would work with the board and management team to continue the company’s growth. Friday’s announcement described a leadership transition, not a change to mortgage eligibility rules, credit-scoring standards or loan prices.
JBizNews Desk | San Francisco
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