FICO shares surge on plan that could cut Experian, Equifax out of credit reporting for mortgages
PositiveU.S News

FICO shares have surged following a new plan that could potentially exclude major credit reporting agencies like Experian and Equifax from the mortgage credit evaluation process. This is significant because FICO scores, developed by Fair Isaac, are utilized by nearly 90% of lenders in the U.S. to assess borrowers' creditworthiness. If successful, this shift could streamline the mortgage approval process and enhance competition in the credit scoring market.
— Curated by the World Pulse Now AI Editorial System