Fair Isaac stock plunges 20% as Fannie and Freddie open mortgage pricing to VantageScore

Yahoo Finance··US·Read original
4▲0 ▼1Impact / 5
Summary · why it matters

Fair Isaac Corp. stock fell more than 20% on Tuesday after Federal Housing Finance Agency Director Bill Pulte announced that Fannie Mae and Freddie Mac will move to a single mortgage pricing grid that includes VantageScore, ending FICO's decades-long hold as the only credit score the mortgage giants accepted. Late Monday, Pulte posted on X that instead of two separate pricing grids, Fannie and Freddie are moving to one pricing grid with VantageScore joining the existing FICO Classic pricing grid. Fannie and Freddie support about 70% of the mortgage market. Rocket Mortgage CEO Jay Bray said the lender will begin accepting VantageScore as its preferred model, adding that the industry has relied on one credit scoring model for decades and that competition is healthy. VantageScore is a joint venture of the three credit bureaus Equifax, TransUnion, and Experian, whose shares were also down in early trading.

Impact on assets 7

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

Equifax is a co-owner of VantageScore, which gains acceptance at Fannie/Freddie, but its shares fell in early trading.

TransUnion
TRU
± MixedCompetitionrelevance

TransUnion is a co-owner of VantageScore, which gains mortgage acceptance, but its shares were down in early trading.

Financials▲ · 2 stocks
Artificial Intelligence▼ · 1 stocks
Fair Isaac Corporation
FICO
▼ NegativeCompetitionrelevance

Fannie and Freddie ending FICO's exclusive hold by adding VantageScore to a single pricing grid threatens Fair Isaac's core mortgage scoring business.

Cloud & Digital Infrastructure▲ · 1 stocks
Experian PLC
EXPN
± MixedCompetitionrelevance

Experian is a co-owner of VantageScore, which gains mortgage acceptance, but its shares were down in early trading.

Digital Finance & Tokenization▲ · 1 stocks
Rocket Companies Inc
RKT
± MixedCompetitionrelevance

Rocket Mortgage will accept VantageScore as its preferred model, a passing operational mention with no clear financial impact stated.

Off-coverage companies 1

VantageScore Solutions, LLCPrivate± Mixed
relevance

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