FICO Launches Mortgage Direct License Program, Stock Rebounds 9.5%
FICO is trading near its 52-week low of $586.05 (11% above the low) on elevated volume (2.5× avg).
Summary
FICO stock surged 9.5% to $648.12 on Thursday, rebounding from Wednesday's close of $592.47, its lowest since January 2023. The rally follows the launch of the FICO Mortgage Direct License Program, which allows credit reporting companies to distribute FICO scores directly to customers, bypassing the three nationwide credit bureaus. This move comes after FHFA Director Bill Pulte's recent overhaul of mortgage pricing to incorporate VantageScore, which had sent FICO shares down 26% on Tuesday. Pulte's late Wednesday social media post indicating he spoke with FICO CEO Will Lansing to ensure FICO Direct is approved suggests a potential softening of the administration's stance. The stock remains 73% below its November 2024 record high and 37% below its 50-day moving average, but the new program and regulatory tone shift provide a near-term catalyst. Watch for further adoption of FICO Direct and any additional FHFA statements on credit score competition.
At the time of this announcement, FICO was trading at $649.74 on NYSE in the Finance sector, with a market capitalization of approximately $14B. The 52-week trading range was $586.05 to $1,998.01. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.