By Katherine Hamilton
Fair Isaac shares retreated following Freddie Mac and Fannie Mae's decision to accept another measure when assessing mortgage borrowers, adding competition to the company's FICO credit score model.
The stock declined 16% to $1,566.40 in Tuesday afternoon trading. Shares are down 21% this year.
William Pulte, director of the Federal Housing Finance Agency William, said in a social media post on X that government-sponsored mortgage providers will now allow lenders to use the VantageScore 4.0 credit score.
FICO has been the sole score provider for lenders during the mortgage origination process.
The move is "to increase competition to the Credit Score Ecosystem and consistent with President Trump's landslide mandate to lower costs," Pulte said in the post.
Write to Katherine Hamilton at katherine.hamilton@wsj.com
(END) Dow Jones Newswires
July 08, 2025 14:26 ET (18:26 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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