FICO Benefits from New Mortgage Lenders Score Program

24 days ago

Nora Melinda

"Of course, we know FICO, though, getting a boost here up as much as 32 percent. That's its biggest gain on record in terms of one daily gains here. And this is after FICO announced a new program that will give mortgage lenders the option to calculate and distribute FICO scores directly to customers."

FICO shares surged 32% on a record daily gain after announcing a new program that allows mortgage lenders to directly compute and distribute FICO scores to customers. Although FICO has been down year-to-date due to emerging competition from a potential rival with Vantage Score, the new initiative is acting as a catalyst for its short-term rally.

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