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FICO
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- 1FICO stock falls as US moves to end mortgage scoring monopoly▼FICO stock tumbles as US moves to break mortgage scoring monopoly
Shares of FICO, the company behind the widely used FICO credit score, dropped sharply after the US government announced steps to break up its dominance in mortgage credit scoring. Regulators are moving to allow alternative credit scoring models in the mortgage market, threatening FICO's long-standing near-monopoly and raising questions about future revenues from its core business.
- 2Rocket Mortgage Adopts VantageScore on All Eligible Loans▼Rocket Mortgage Becomes First Home Lender to Use VantageScore as its Preferred Scoring Model on All Eligible Loans
Rocket Mortgage has become the first home lender to use VantageScore as its preferred credit scoring model across all eligible loans. The move marks a notable shift in how mortgage creditworthiness may be assessed, as VantageScore competes with the long-dominant FICO in the US lending market. The announcement could push other major lenders to reconsider their scoring choices.