Fair Isaac stock falls 20% after Fannie, Freddie adopt VantageScore

September 29, 2026 at 07:28 PM1 min

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Fair Isaac Corp. shares fell more than 20% on Tuesday after FHFA Director Bill Pulte announced Fannie Mae and Freddie Mac will adopt a single mortgage pricing grid that includes VantageScore. The move ends FICO's decades-long monopoly as the only credit score accepted by the two mortgage giants, which support about 70% of the U.S. mortgage market. Rocket Mortgage said it will begin accepting VantageScore as its preferred model.

Key Facts

Fair Isaac stock fell more than 20% shortly after the open on Tuesday.
FHFA Director Bill Pulte announced late Monday that Fannie Mae and Freddie Mac will move to a single pricing grid that includes VantageScore.
Fannie Mae and Freddie Mac support about 70% of the U.S. mortgage market.
Rocket Mortgage CEO Jay Bray said the lender will begin accepting VantageScore as its preferred model.
VantageScore is a joint venture of Equifax, TransUnion, and Experian.

Mortgage Pricing Change

Late Monday, FHFA Director Bill Pulte posted on X that Fannie Mae and Freddie Mac would move to a single pricing grid that includes VantageScore, a FICO competitor. Pulte wrote that the move follows feedback from lenders and consumers, replacing two separate pricing grids with one grid that adds VantageScore to the existing FICO Classic pricing grid. Fannie Mae and Freddie Mac support about 70% of the mortgage market, and for decades FICO was the only credit score they accepted for borrowers seeking financing.

Market Reaction

Fair Isaac stock was down more than 20% shortly after the open on Tuesday. Shares of Equifax, TransUnion, and Experian, the three credit bureaus that jointly own VantageScore, were also down in early trading. Rocket Mortgage CEO Jay Bray said the lender will begin accepting VantageScore as its preferred model, stating that competition can lower costs and expand responsible access to homeownership.