For millions of “invisible” Americans who have paid rent on time for years but lacked a traditional credit score, the door to the American Dream just swung wide open — but one expert warns not to trip on the threshold.

Following a landmark announcement from HUD and the FHFA to accept VantageScore 4.0 and FICO Score 10T, the mortgage industry is bracing for a surge of new applicants. Micah Smith, a leading credit repair influencer, says that while the inclusion of rent and utilities is a landmark shift, borrowers must be wary of the “American drain.”

“People who were invisible in the system — no cards, no loans, no score — can now potentially show up with a real number,” Smith told Fox News Digital, while also cautioning that the new models are more rigorous than many realize. “People say getting a home is the American Dream. I call it the American drain when you don’t do it properly.”

The acceptance of VantageScore 4.0 represents the first major change to mortgage credit requirements in over three decades, and stems from the 2018 Credit Score Competition Act signed by President Donald Trump during his first administration.

HERE’S WHAT HAPPENS WHEN YOU DISPUTE A CREDIT CARD CHARGE

Following last week’s announcement, Smith said many of her clients are “freaking out in a good way and a bad way.”

Changes are coming to America’s mortgage credit requirements for the first time in 30 years. (Getty Images)

“The narrative the media has been spinning has people all over the place. That is simply people not understanding what is coming down the pipeline and why,” she said. “Everything being put into place right now is to help more people get into homes and to update a system that has not been updated in over 30 years. FICO has been in place since 1989.”

“The Credit Score Competition Act… set something significant in motion. Look at how long it’s taken. It’s now 2026 and it’s finally being implemented,” Smith added. “This was never about destroying FICO. This is about making sure FICO does not monopolize the credit scoring market. This is about updating an antiquated system.”

A key benefit highlighted by FHFA Director Bill Pulte is the ability to account for rent payments, aiming to help creditworthy Americans who may not have traditional credit card debt but who have a perfect history of paying their bills.

“Rent and utilities now count — when reported,” Smith said. “If your clients’ landlord reports to the bureaus, those years of on-time payments now feed the score… But here’s the flip side nobody’s talking about: If your rent is being reported, a late payment potentially can hurt you, too. Reporting cuts both ways. Don’t let clients assume this is all upside.”

Smith also warned that large student loan repayments, auto loans or personal loans can still drag down your credit score and mortgage eligibility, despite the new scoring models. 

“That balance piece is real… High balance equals high score pressure under this model. That’s the nuance people need to hear,” she said.

While a borrower cannot choose which scoring models a lender uses, Smith predicts banks will “probably” lean toward pulling VantageScore 4.0 because FICO traditionally charges $9.99 per credit report pull and VantageScore costs 99 cents.

“To me, this is starting to look like a race to the bottom,” Smith said, “where VantageScore potentially ends up monopolizing the very market it claimed to open up. Lending as a whole is a multitrillion-dollar industry, and people are in more debt than they have ever been. My concern is this: giving more people access to mortgages who didn’t previously understand credit means they’re probably still coming in at a pretty subpar credit score.”

However, this does not raise any recession-level concerns for Smith. 

“I do not see a repeat of 2008, 2009. Banks now have skin in the game. Back then, there was no real repercussion for lenders selling bad loans off to the secondary market. That guardrail now exists. We are not going to see a crash in that sense,” Smith said.

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“But here’s what I do worry about: more people going into debt unnecessarily because they still don’t understand the credit system,” she continued. “Remember, those who understand interest earn it; those that don’t pay it.”

“Credit is not your identity — but it is your financial reputation. And right now, more eyes are on it than ever before. Use this moment to get it right.”

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Operator

Greetings. Welcome to the L3Harris Technologies First Quarter 2026 Earnings Conference Call. [Operator Instructions] As a reminder, this call is being recorded.

It is now my pleasure to introduce your host, Tony Calderon, Vice President, Investor Relations and Corporate Development. Thank you. Tony, you may now begin.

Tony Calderon
Vice President of Investor Relations & Corporate Development

Thank you, Tiffany, and good morning, everyone. Joining me today are Chairman and CEO, Chris Kubasik; and CFO, Ken Sharp.

Earlier this morning, we published our first quarter earnings release detailing our financial results and updated 2026 guidance. We also filed our 10-Q and provided a supplemental earnings presentation on our website.

Before we begin, please note that today’s discussion will include forward-looking statements subject to risks, assumptions and uncertainties that could cause actual results to differ materially. For more information, please refer to our earnings release and SEC filings.

We will also discuss non-GAAP financial measures, which are reconciled to GAAP measures in the earnings release.

With that, let me turn it over to Chris.

Choosing the right LED power supply supplier is one of the most important decisions in any lighting project.

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Choosing the right LED power supply supplier is essential for building reliable, efficient, and long-lasting lighting systems. From product quality and waterproof protection to energy efficiency and technical support, every factor plays a role in overall performance.

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TUCSON, Ariz. — Nearly three months after 84-year-old Nancy Guthrie vanished from her Catalina Foothills home in an apparent abduction, the FBI is advancing advanced DNA analysis on hair and other evidence recovered from the scene while a separate trial date has been set for a man accused of sending a fake ransom text to her daughter, “Today” co-anchor Savannah Guthrie.

Pima County Sheriff Chris Nanos and federal investigators continue to treat the Feb. 1 disappearance as a targeted kidnapping, citing blood spatter at the residence and doorbell camera footage of a masked, armed intruder. No arrests have been made, no suspects publicly identified, and Guthrie’s whereabouts and condition remain unknown as the case approaches its 90th day.

A Pima County judge recently set a trial date for Derrick Callella, charged with sending a fraudulent ransom demand to Savannah Guthrie shortly after the abduction. Callella faces no connection to the actual kidnapping but his case highlights the wave of opportunistic exploitation that followed the high-profile disappearance.

Forensic efforts have intensified. The FBI received a hair sample collected from Guthrie’s home in February and is applying next-generation sequencing technology for deeper analysis, sources familiar with the probe told multiple outlets. FBI officials clarified that the evidence is not new — the bureau requested testing two months ago — but a delay occurred when the Pima County Sheriff’s Office initially sent materials to a private lab.

Retired FBI profiler Jim Clemente analyzed publicly available details of the blood evidence, suggesting Guthrie may have made a “last stand” at her front entrance, coughing up blood while resisting her abductor. Forensic nurse and “Mindhunter” inspiration Ann Burgess has speculated the kidnapping could involve retribution or a botched ransom plot that turned fatal given Guthrie’s age, pacemaker and need for daily medication.

The masked suspect captured on Google Nest footage — described as average build, 5-foot-9 to 5-foot-10, wearing a black backpack — was seen on an earlier reconnaissance visit. A glove recovered miles away yielded additional unknown male DNA now under review. Mixed samples at the home have complicated the forensic puzzle.

Ransom communications have added torment. The family received notes, including messages sent to TMZ claiming Guthrie was seen alive in Sonora, Mexico. Anonymous senders demanded Bitcoin while alternating between claims she is alive and hints she may be dead. Savannah Guthrie addressed the notes publicly in March, expressing cautious belief they could contain genuine information while pleading for her mother’s safe return.

The family offered a $1 million reward in late February for information leading to Nancy’s recovery. Savannah returned to the “Today” anchor desk in early April, delivering an emotional update and resuming duties while the search continues. Family members, including daughter Annie, reportedly passed polygraphs and were cleared.

Investigators explored possible pre-abduction activity around Jan. 11 based on digital evidence. Tens of thousands of tips have poured in, prompting extensive ground, air and drone searches across southern Arizona. Cadaver dog efforts were paused earlier but could resume. No second crime scene has been confirmed.

Neighbors in the upscale Catalina Foothills community expressed growing anxiety that the case may go cold. Some reported FBI follow-ups on local interactions, while others noted increased trespassing by amateur sleuths and true-crime content creators. Sheriff’s officials have urged the public to respect the neighborhood and submit verified tips.

Former FBI agents and profilers describe the motive as potentially straightforward — a ransom kidnapping that went wrong due to Guthrie’s fragile health. Others suggest possible personal connections or retribution. The intruder’s apparent familiarity with the property raises questions about prior surveillance.

Guthrie’s medical vulnerabilities heighten urgency. At 84 with mobility issues, prolonged captivity or exposure without medication would be life-threatening. Her pacemaker adds another layer of concern for investigators.

The case has captivated national attention, drawing parallels to other high-profile abductions of vulnerable adults. Savannah Guthrie has balanced public appeals with privacy, wearing yellow — her mother’s favorite color — on air as a symbol of hope. The family’s cooperation with authorities has been praised.

Challenges include the desert terrain, mixed DNA profiles and the passage of time. Yet officials insist the investigation remains active rather than cold. Advanced genetic genealogy techniques, as used successfully in other cold cases, could prove decisive if rootless hair or other samples yield usable profiles.

The FBI continues offering a $50,000 reward alongside the family’s $1 million. Tips can be submitted anonymously to 1-800-CALL-FBI or local law enforcement. As public updates slow, behind-the-scenes forensic work and tip analysis drive progress.

Community vigils and support for the Guthrie family persist in Tucson. The case has spotlighted risks to elderly residents and the importance of home security even in affluent areas. It also underscores the emotional toll on public figures navigating private crises under intense media scrutiny.

As the calendar turns toward May, the search for Nancy Guthrie enters a new phase. DNA results, digital forensics and persistent public tips offer the best hope for resolution. For Savannah Guthrie and her siblings, every day without answers brings renewed determination alongside grief.

Authorities vow not to rest until Guthrie is found and those responsible are held accountable. The combination of traditional detective work and cutting-edge science keeps the investigation moving forward even as headlines quiet. For a family and a nation watching, the hope remains that science and persistence will bring Nancy home.