FICO freezes $10 mortgage score bundle price

Fair Isaac Corp. (FICO) will hold its wholesale mortgage price at $10 for a bundle of its credit scores for lenders and brokers enrolled in its Preferred Program, the company announced Friday. The flat year-over-year pricing is available through participating tri-merge credit report reseller partners to lenders that commit to FICO under the program. The $10 price covers both the Classic FICO Score, which has served as the mortgage industry standard for nearly three decades and FICO Score 10T, the company’s trended-data credit score. Its main competitor, VantageScore 4.0, has been offered at $0.99 per score, or at no additional charge when purchased alongside a FICO score through the three nationwide credit bureaus — Equifax, Experian, and TransUnion — which jointly own VantageScore. “For nearly three decades, FICO has helped lenders make sound risk decisions that support the strength and stability of the U.S. mortgage system,” Will Lansing, CEO of FICO, said in a statement. Lansing added that maintaining the $10 price point will ensure lenders “have access to the trusted and predictive tools they need to assess risk with confidence.” The move comes as the industry prepares for a mu...