BUZZ - FICO shares plunge as Fannie Mae and Freddie Mac shift to single pricing framework

September 29 - ** Credit reporting company Fair Isaac Corporation (stock ticker: FICO.K) fell 22.2% in pre-market trading, quoted at $653

** The stock is expected to reach its lowest point since February 2023 after the market opens

** FHFA Director Bill Pulte stated (link) that Fannie Mae and Freddie Mac will transition to a single pricing system, and VantageScore will be integrated into the current FICO pricing framework

** Fannie Mae and Freddie Mac are two mortgage financial institutions providing funding support for the US housing market

** VantageScore is a competitive credit scoring model jointly developed by Equifax EFX.N, Experian EXPN.L, and TransUnion TRU.N

** Earlier this month, Pulte reiterated his previous (link) view that FICO unreasonably raises consumer costs

** As of the close of the previous trading day, the stock had accumulated a 50.3% drop year-to-date

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