There’s One Mortgage Monopoly the U.S. Government Wants to Keep
- Rivals press hard to break FICO’s lock on scoring credit risk
- Fannie Mae and Freddie Mac are skeptical of benefits of change
Houses stand in this aerial photograph taken above Alameda, California, U.S., on Monday, Oct. 5, 2015. With tech workers flooding San Francisco, one-bedroom apartment rents have climbed to $3,500 a month, more than in any other U.S. city.
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
The FICO credit score is as ubiquitous as it is crucial in getting a mortgage.
Now, an odd-bedfellows alliance is out to break FICO’s lock and allow scores from rival companies.