FICO keeps preferred mortgage scoring bundle at $10

FICO ($FICO) will maintain its $10 wholesale mortgage score price for lenders and brokers enrolled in its Preferred Program through participating tri-merge resellers. The package includes both the established Classic FICO Score and FICO Score 10T. Eligibility depends on lenders committing to FICO through those distribution partners, so the announcement applies to a defined customer program.

Keeping the price unchanged from the previous year gives participating mortgage lenders greater certainty over this component of credit assessment costs while making the newer scoring model available alongside the existing product. FICO Score 10T incorporates trends in credit bureau data and rental payment information. The company did not quantify the policy’s revenue impact or enrollment levels, and the $10 wholesale bundle does not represent a ceiling on every charge included in a mortgage credit report.

Sources:

• investors.fico.com