FICO Stock Drops as FHFA Orders Fannie and Freddie to Accept VantageScore

Regulation
โดย Yahoo Finance·US·Read original
Summary · why it matters

Bill Pulte, Director of the Federal Housing Finance Agency, has instructed Fannie Mae and Freddie Mac to approve all lenders to use the VantageScore credit scoring system, ending Fair Isaac Corp.'s long-standing monopoly in mortgage credit scoring. Pulte announced the decision on X, citing the successful initial rollout of VantageScore, which enabled 50 lenders to deliver loans. He also accused FICO of raising the per-person cost of a credit score by 1,800% since 2020. In response, FICO stated it supports a competitive environment based on performance and analytics, highlighting its Score 10T as its most predictive credit score. FICO stock fell 2.14% in pre-market trading on Friday. Pulte separately criticized Equifax, Experian, and TransUnion, the credit reporting agencies that own VantageScore, for overcharging Americans and hinted at considering bi-merge and stronger solutions. The directive follows a Senate investigation into FICO's pricing, and comes amid a housing market with record-low buyer activity and high mortgage rates.

Impact on stocks 7

Financials▲ · 3 stocks
Freddie Mac
0IKZ
± MixedRegulationrelevance

Freddie Mac is ordered to accept VantageScore, but impact on its operations is unclear.

Fannie Mae
0IL0
± MixedRegulationrelevance

Fannie Mae is ordered to accept VantageScore, but impact on its operations is unclear.

Cybersecurity & Digital Trust▲ · 2 stocks
Equifax Inc
EFX
± MixedRegulationrelevance

Pulte criticized Equifax for overcharging Americans, but no direct action against them yet.

TransUnion
TRU
± MixedRegulationrelevance

Pulte criticized TransUnion for overcharging, but no direct action against them yet.

Artificial Intelligence▼ · 1 stocks
Fair Isaac Corporation
FICO
▼ NegativeRegulationrelevance

FHFA orders Fannie and Freddie to accept VantageScore, ending FICO's monopoly in mortgage credit scoring.

Cloud & Digital Infrastructure▼ · 1 stocks
Experian PLC
EXPN
▼ NegativeRegulationrelevance

FHFA director criticizes Equifax for overcharging and hints at bi-merge solutions, potentially affecting its credit reporting business.

Off-coverage companies 1

VantageScore Solutions, LLCPrivate± Mixed
relevance

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