Experian is a cornerstone of the U.S. housing finance system, empowering millions of consumers to achieve the dream of homeownership and enabling lenders to make safe, sound, and inclusive credit decisions. At the heart of every credit score is data – and there is no FICO score without credit bureau data. Our information powers the accuracy, reliability, and fairness of scores across the market.
FICO is now proposing an aggressive strategy to restructure distribution in order to push through an unprecedented price increase for its own benefit. The new direct licensing model introduces unnecessary technological, operational, and regulatory complexity for lenders and other market participants – complexity that ultimately increases costs and risks for the housing ecosystem. On pricing, the math speaks for itself. FICO has now more than doubled its fee from $4.95 to $10, and it’s an even worse increase under the proposal for a $33 closing fee. Make no mistake, this will place an even greater financial burden on the industry, that will inevitably be passed to consumers.
Experian has long supported the industry’s evolution toward more modern, inclusive, and efficient credit solutions. We have a track record of partnering with lenders, agencies, and regulators to ensure innovation strengthens – not hinders – the system. FICO’s actions only underscore the need for alternatives that deliver value, not additional burden. As a result, we are committed to accelerating the adoption of VantageScore – an innovative, proven, and cost-effective solution that better serves both lenders and consumers.
We remain confident in our position, our client partnerships, and our ability to deliver solutions that balance affordability, fairness, and accuracy. Experian will continue to work with the industry to drive innovation, empower consumers, and strengthen the housing finance system for the future.
