Fair Isaac Corporation Aktie News

Fair Isaac (NYSE:FICO) stock surged by almost 18% during Thursday's trading session after the company launched its new Mortgage Direct License Program, allowing mortgage lenders and brokers to purchase credit scores directly instead of through credit bureaus. This change eliminates the hidden fees traditionally collected by TransUnion, Equifax, and Experian, paving the way for price transparenc...

In a move that will cut out the middleman, FICO (FICO 3.70%) gains a competitive advantage.

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Fair Isaac, the producer of the FICO Score, changed its pricing model, giving it a greater share of the overall credit-scoring revenue.

Key Takeaways

Shares of a data analytics firm took off after the company said it would provide its consumer credit scores directly to firms that give credit reports to mortgage lenders. The move pressured the credit bureaus that also evaluate potential borrowers.

Shares of Fair Isaac Corporation (FICO 17.80%) were soaring on Thursday, rising 20.5% as of 2:05 p.m. ET.

Major U.S. equities indexes were little changed Thursday afternoon on the second day of the U.S. government shutdown, as the tech sector rose while most others declined.