Fair Isaac Corporation (FICO) will maintain its wholesale mortgage price at $10. This price applies to lenders and brokers in its Preferred Program. The $10 pricing bundles the Classic FICO Score and the FICO Score 10T.
This decision follows significant industry changes. FICO faces new competition. Regulators permitted Fannie Mae and Freddie Mac to use the VantageScore model.
Last year, FICO more than doubled its fee to the current $10. FICO aims to retain market share against this new competition.
FICO's stock declined in after-hours trading following the announcement.