FICO will hold the wholesale price of credit scores purchased by lenders and brokers through participating resellers in its Preferred Program, the company announced.
The decision comes as Fair Isaac Corp. (FICO) faces concerted pressure from federal housing regulators and industry stakeholders to reduce credit scoring costs following a series of price hikes in recent years. The company has yet to announce pricing for its so-called “direct” licensing scores.
“By holding our price at $10 for lenders in our Preferred Program and including both Classic FICO Score and FICO Score 10T, we’re ensuring lenders have access to the trusted and predictive tools they need to assess risk with confidence,” said Will Lansing, CEO of FICO, in a press release...