On October 2, Fair Isaac fell 5.71% overnight, trading at $623.99/share, with turnover of $174,900. The decline erased gains from the prior session's 7.22% rebound, as sustained concerns over the disruption of its credit scoring monopoly continued to pressure the stock.

On the news front, FHFA Director Bill Pulte recently announced that VantageScore will be incorporated into the existing FICO classic mortgage pricing grid, consolidating two separate pricing grids into one. Fannie Mae and Freddie Mac have simultaneously adopted VantageScore alongside FICO across all securitized products. Pulte also publicly criticized FICO for raising the cost of obtaining a single credit score by 1,800% since 2020, demanding competitive pricing. The stock has suffered a cumulative decline of over 40% from its early September levels.

Despite the structural competitive shift, multiple investment banks including Goldman Sachs, BMO Capital, Wells Fargo, and Barclays have lowered price targets but maintained positive ratings. Raymond James analysts noted that FICO has not experienced volume declines, as most lenders are calling both scores simultaneously rather than substituting one for the other, suggesting competitive pressure may be overly reflected in the stock price.

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