Stock Market Update
04-Sep-26 11:05 ET
Credit-scoring stocks sharply lower
Dow -363.28
at 53322.83,
Nasdaq -111.49
at 26493.62,
S&P -36.60
at 7711.11
[BRIEFING.COM] The major averages continue to chart session lows.
Credit bureau and credit-scoring stocks are facing steep losses following comments from FHFA Director Bill Pulte regarding potential changes to the mortgage credit-scoring market. Fair Isaac (FICO 922.61, -196.32, -17.55%) is down sharply after Mr. Pulte said Fannie Mae and Freddie Mac will immediately allow all lenders to use VantageScore following what he described as a successful initial rollout, increasing competition for FICO's mortgage-scoring business. Equifax (EFX 173.45, -15.64, -8.27%) and TransUnion (TRU 77.66, -7.26, -8.56%) are also sharply lower despite jointly owning VantageScore, as Mr. Pulte criticized credit reporting agencies over pricing and said he is considering a "bi-merge" system that would require mortgage lenders to pull two credit reports instead of three. Such a change could reduce mortgage credit-report volumes for the major bureaus.
