Silvio Tavares stepped down as CEO and president of VantageScore after five years, with Anthony Hutchinson named interim leader on Friday. VantageScore's board has begun a formal search for a permanent successor.
Tavares did not specify his reason for departing. The board said he tripled the company's market presence and achieved widespread adoption in the U.S. mortgage credit-scoring market during his tenure.
Hutchinson previously led VantageScore's public affairs and government relations efforts over four years with the company. He spent more than 30 years in housing finance and held senior roles at Freddie Mac, Fannie Mae, and the National Association of Realtors.
As interim CEO, Hutchinson said he plans to build on momentum and expand adoption of VantageScore's credit scoring models. VantageScore 4.0 has gained traction since the Federal Housing Finance Agency approved its use by lenders originating loans through Fannie Mae and Freddie Mac.
"VantageScore is helping lenders make more predictive, inclusive and informed decisions across the credit lifecycle," Hutchinson said.