FICO Surges on New Mortgage Lender Program

24 days ago

Scarlett Fu / Bloomberg's Christina Kino

"And the stock is surging. Absolutely, Scarlett. So FICO. Well, it's the full name is Fair Isaac Corp... they announced a new program that will give mortgage lenders the option to calculate and distribute scores directly to customers. And FHFA director Bill Palti weighing in on that result, they are saying that he has had productive conversations with the FICO CEO, Will Lansing, and that he welcomes the changes that they're implementing."

Fair Isaac Corp (FICO) sees a strong price surge of over 24% amid the announcement of a new program that allows mortgage lenders to calculate and distribute credit scores directly to customers. This news comes with supportive commentary from regulatory figures and could negatively impact competitors like Equifax and TransUnion.

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