FICO Score 10T Adoption Tops 70 Lenders, Covering $586B in Originations
FICO sits 48% above its 52-week low of $870.01.
Summary
FICO's next-gen credit score, 10T, has crossed a key adoption threshold with over 70 mortgage lenders now signed on, including seven newly named firms. The program's strongest enrollment months were May and June, signaling accelerating industry uptake. Participating lenders collectively represent $586 billion in annual originations and $1.865 trillion in servicing portfolios, underscoring the score's growing footprint in mortgage underwriting. The free access program removes cost barriers, and FICO touts 10T's predictive edge—up to 5% more approvals at the same risk level. This follows a $2B buyback authorization in June and a short-seller attack in May, making the product traction a timely positive for the Scores segment, which drove Q2's 39% revenue surge.
At the time of this announcement, FICO was trading at $1,285.70 on NYSE in the Finance sector, with a market capitalization of approximately $29.7B. The 52-week trading range was $870.01 to $1,998.01. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: BusinessWire.