FICO to Directly License Credit Scores to Mortgage Resellers

Fair Isaac Corp. will now sell credit scores directly to mortgage resellers, a move that sent shares of third-party credit bureaus plunging.

Through a new program, mortgage resellers will be able to calculate and distribute credit scores directly to customers, reducing their reliance on credit bureaus. This will bring more price transparency and savings for mortgage lenders, mortgage brokers and other industry participants, FICO said in a statement.