Analysts cast FICO’s $10 mortgage pricing as defensive volume play
Preferred Program locks in FICO pulls at $10 per score as industry shifts to multiscore framework
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FICO to cut 15% of staff, reduce management layers
The move comes as regulators and large lenders are embracing competing credit score models
Mortgage Banking Summit: FHFA’s unified LLPA grid for FICO, VantageScore raises investor concerns
Summit participants question how investors will treat VS4-driven MBS pools
FHFA says Fannie, Freddie will use one LLPA grid for FICO and VantageScore
Change follows lender feedback after VantageScore 4.0 was approved for eligible conventional loans earlier this month
MISMO board adds VantageScore, Guild and FICO leaders amid credit modernization push
Anthony Hutchinson of VantageScore, Gemma Currier of Guild Mortgage and Eric Lapin of FICO are the new board members
New credit score pricing grids point to higher borrower costs, report shows
Analyses indicate the newly released pricing grids could make loans more expensive with VS 4.0
FHA expected to keep Classic FICO as it adds new models in January
Lenders expect model consistency will be required at the loan level
Mortgage lenders weigh AI, alternative data and credit models
MISMO panelists cited rental and cash flow data, plus AI rules that may affect licensing and compliance
Mortgage insurers face larger safety net rule for VantageScore 4.0
Mortgage insurers will be required to keep a larger safety net for mortgages originated using VantageScore 4.0 than for comparable loans using Classic FICO, according to new guidance from the government-sponsored enterprises.
MISMO updates mortgage insurance data guide for VantageScore 4.0 and FICO 10T
MISMO updated its mortgage insurance data standards to support VantageScore 4.0 and FICO 10T, helping firms prepare for new credit models.