FICO Stock Plunges 21.57% as FHFA Ends Its Mortgage Scoring Monopoly
Fair Isaac Corporation (FICO) stock plunged approximately 21.57% in a single session after the Federal Housing Finance Agency announced mortgage pricing changes that end FICO’s decades-long monopoly on credit scoring used in government-backed mortgage underwriting. FHFA Director Bill Pulte directed Fannie Mae and Freddie Mac to let all mortgage lenders choose between Classic FICO and…