Why Fair Isaac Corporation (FICO) Shares Are Getting Obliterated Today

Shares of credit scoring and analytics company FICO (NYSE:FICO) fell 15.2% in the afternoon session after the Federal Housing Finance Agency approved VantageScore 4.0 for all lenders originating Fannie Mae and Freddie Mac mortgage loans, according to the company’s press release. FHFA Director Bill Pulte directed government-sponsored enterprises Fannie Mae and Freddie Mac to immediately approve all mortgage lenders to use the VantageScore 4.0 credit scoring system. This directive expands a succes