Report: New Credit Score Rule Could Cause Concern For Fair Isaac Investors.
Byline: Brent Slava
Shares of Fair Isaac Corporation (NYSE:FICO) fell in mid-day trading Tuesday following a Dow Jones report a U.S. House-financing regulator is seeking to shake up the nation's credit score system.
The stock fell about 1.6% and touched below the $350 level.
The report suggested two incremental parts in the U.S. mortgage market, Federal National Mortgage Association (OTC: FNMA) and Freddie Mac (OTC: FMCC), will be required to consider alternatives to the FICO scoring system, the software which aids in calculating a person's credit score. This change, as the report highlighted, could "threaten Fair Isaac's grip on the U.S. mortgage market."
Fair Isaac is the largest provider of FICO-related software.
Shares of Fannie and Freddie did not respond following the Dow Jones report.
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|Date:||Aug 13, 2019|
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