FICO Shares Plunge 20% as Fannie and Freddie End Credit Scoring Monopoly

Key Facts

1Fair Isaac (FICO) shares dropped over 20% following the FHFA announcement that Fannie Mae and Freddie Mac will adopt a new pricing grid.

2Fannie Mae and Freddie Mac will incorporate VantageScore alongside FICO, introducing competition to the mortgage lending market.

3Rocket Mortgage announced it will begin accepting VantageScore credit ratings.

Fair Isaac (FICO) shares dropped over 20% following an announcement from the Federal Housing Finance Agency (FHFA) regarding a new pricing grid for Fannie Mae and Freddie Mac. Yahoo Finance reported that the mortgage giants will now incorporate VantageScore ratings alongside FICO, effectively introducing competition to a market previously dominated by a single provider.

FICO closed at $840.89 on September 28, 2026, prior to the significant decline triggered by the regulatory shift. Meanwhile, Rocket Mortgage announced it will begin accepting VantageScore credit ratings; its stock, RKT, closed at $11.64 on September 28, 2026. Other industry participants also saw activity, with Equifax (EFX) closing at $145.78 and TransUnion (TRU) at $66.19 on the same date.