Company Reports

On Oct. 1, Bloomberg reported, citing an unnamed source, that the Federal Housing Finance Agency is moving toward a bi-merge requirement, under which government-conforming mortgages would need only two credit files, from the current three. TransUnion, Equifax, and Fair Isaac shares fell after hours.

Founded in 1956, Fair Isaac established itself as the industry leader in credit scores, which turned out to be a very lucrative business. Credit scores are used for more than just individual lending decisions; they are benchmarks used by investors, lenders, and the industry overall.

On the evening of Sept. 28, 2026, Bill Pulte posted on X that VantageScore will move to the existing Classic FICO grid, effectively removing the 20-point haircut on loan-level price adjustment (LLPA) grids. Shares of Fair Isaac tumbled 20%.

With Fair Isaac's Direct License Program delayed and a wider range of outcomes for mortgage bureau and score usage, we lower our fair value estimate on Fair Isaac.

Founded in 1956, Fair Isaac established itself as the industry leader in credit scores, which turned out to be a very lucrative business. Credit scores are used for more than just individual lending decisions; they are benchmarks used by investors, lenders, and the industry overall.

On Sept. 3, 2026, Federal Housing Finance Agency Director William Pulte sent a series of x.com posts criticizing the pricing of Fair Isaac and the credit bureaus. He also suggested eliminating the tri-merge requirement for conforming mortgages and encouraged more lenders to adopt VantageScore.

Founded in 1956, Fair Isaac Corporation, or FICO, established itself as the industry leader in credit scores, which turned out to be a very lucrative business. Credit scores are used for more than just individual lending decisions; they are benchmarks used by investors, lenders, and the industry overall.

Fair Isaac reported fiscal third-quarter revenue of $674 million. This was up 26% from $536 million last year, driven by 97% growth in mortgage revenue. Revenue was 1% below the FactSet consensus, however. Fair Isaac raised its fiscal 2026 outlook. Shares were down 12% in early July 30 trading.

We’ve recalibrated our cost of capital assumptions across our coverage universe.

Founded in 1956, Fair Isaac Corporation, or FICO, established itself as the industry leader in credit scores, which turned out to be a very lucrative business. Credit scores are used for more than just individual lending decisions; they are benchmarks used by investors, lenders, and the industry overall.

Fair Isaac reported fiscal second-quarter revenue of $692 million, up from $499 million last year amid 127% growth in mortgage revenue. Strong results, an upgraded outlook, and management's strong defense of its market share sent shares up as much as 13% in after-hours trading.

At midday April 22, the government-sponsored enterprises of Fannie Mae and Freddie Mac announced that they would begin accepting VantageScore 4.0. Shares of Fair Isaac, Equifax, and TransUnion closed 6%, 7%, and 4% lower respectively, with Fair Isaac shares down as much as 15% during the session.

As of midday April 10, Fair Isaac shares were down as much as 14% in intraday trading. Shares of credit bureaus TransUnion and Equifax were down as much as 5% and 4%, respectively.

Fair Isaac shares fell 21% between March 9 and March 11, underperforming peers TransUnion (down 7%) and Equifax (down 8%) as well as the Morningstar US Market Index (up 1%) over the same period.

Amid the possibility of generative AI disrupting many industries, we reviewed the moat ratings for an array of capital markets information services stocks, including Broadridge, Clearwater Analytics, FactSet, Fair Isaac, Moody’s, MSCI, S&P Global, SS&C Technologies, and Verisk.

Founded in 1956, Fair Isaac Corporation, or FICO, established itself as the industry leader in credit scores, which turned out to be a very lucrative business. Credit scores are used for more than just individual lending decisions; they are benchmarks used by investors, lenders, and the industry overall.

In intraday trading on Feb. 3, a broad group of information-services companies, such as rating agencies, data providers, index providers, credit bureaus, and others, are seeing share price declines of 5% or more.

Fair Isaac reported a strong quarter, with 16% revenue growth and 27% adjusted EPS growth beating consensus expectations. However, the firm maintained its often-conservative guidance, which may have disappointed some investors. Shares traded mixed in the after-hours session.

On the evening of Jan. 5, 2026, Bill Pulte, who serves as the director of the Federal Housing Finance Agency, or FHFA, wrote on x.com that “I do not understand what the credit bureaus are doing with their pricing—they are inviting a lot of scrutiny that is only intensifying by the day.”

Founded in 1956, Fair Isaac Corporation, or FICO, established itself as the industry leader in credit scores, which turned out to be a very lucrative business. Credit scores are used for more than just individual lending decisions; they are benchmarks used by investors, lenders, and the industry overall.