Fair Isaac Corp.’s (FICO) decision to let resellers calculate and distribute its scores directly to lenders drew a mixed response from the mortgage industry — viewed by some as a step toward more competition, but by others as a potential driver of higher credit score costs in the short term. On Wednesday, FICO unveiled the […]
FICO’s new program draws mixed reviews from mortgage market Read More »
Fair Isaac Corp. (FICO) has launched a program allowing tri-merge resellers to calculate and distribute its scores directly to mortgage companies, effectively bypassing the three nationwide credit bureaus: Equifax, TransUnion and Experian. The move comes amid intensified competition with VantageScore, owned by the three bureaus, following the Federal Housing Finance Agency’s (FHFA) decision to let
FICO bypasses credit bureaus with new program for mortgage lenders Read More »
The number of consumers whose rent payments are reported to credit reporting agencies rose to 13% in 2025, according to TransUnion‘s latest Rent Payment Reporting analysis, released on Wednesday. That number is up from 11% in 2024. In a press release, the company suggested that this trend may gain momentum after the July 2025 directive
Consumers are increasingly self-reporting rent payments, TransUnion says Read More »
Nearly two dozen members of Congress recently sent a letter to Bill Pulte, director of the Federal Housing Finance Agency (FHFA), that supports his decision to accept VantageScore 4.0 credit scores for mortgages purchased by Fannie Mae and Freddie Mac. The lawmakers, led by Rep. Mike Flood (R-Neb.), said that the move will help President
Lawmakers voice support for FHFA’s adoption of VantageScore 4.0 Read More »
VantageScore and FICO have escalated their rivalry in the mortgage space following the Federal Housing Finance Agency’s (FHFA) decision to allow Fannie Mae and Freddie Mac to purchase loans underwritten with VantageScore 4.0 as an alternative to the Classic FICO score. Both companies published analyses this week from their data scientists. Naturally, each claims their score more
Which is better for mortgage — FICO or VantageScore? Read More »
A recent report from the Urban Institute analyzed potential reasons behind the increasing number of delinquencies on Federal Housing Administration (FHA) loans. While the increase is sizable, it’s not a cause for concern, the authors of the report suggest. Laurie Goodman, Jun Zhu, Ted Tozer and Jung Hyun Choi — the authors of the July
Urban Institute says rise in FHA mortgage delinquencies isn’t a cause for concern Read More »
Fair Isaac Corp. (FICO) will incorporate Buy Now, Pay Later (BNPL) data into two of its credit scores set to launch in Fall 2025. The company, which owns the rights to the market’s most widely adopted consumer credit risk assessment methodology, announced the move on Monday. The change will provide mortgage brokers, loan officers and
FICO to add Buy Now, Pay Later data to credit scores Read More »
After a statement made last week in condemning the credit-score pricing practices of Fair Isaac Corp. (FICO), Federal Housing Finance Agency (FHFA) Director Bill Pulte is now being complimented for his position by the Community Home Lenders of America (CHLA). CHLA on Tuesday sent a letter to Pulte, saying that FICO “has a clear monopoly
CHLA offers support for Pulte’s position on FICO pricing Read More »