Fair Isaac stock tanks after FHFA allows Fannie, Freddie to use VantageScore

4 hours ago 1
Business people evaluate customer finance statistical data with credit score icons. Credit behavior and reports. Online credit ranking check for a personal loan, mortgage, auto loan, or payment card.

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Fair Isaac (NYSE:FICO) stock tumbled 8.9% in Tuesday trading after Federal Housing Finance Agency Director Bill Pulte said mortgage finance giants Fannie Mae (OTCQB:FNMA) and Freddie Mac (OTCQB:FMCC) will immediately allow lenders to use VantageScore 4.0 for assessing borrowers' creditworthiness.

VantageScore, a

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