FICO launches cost-cutting direct license program for mortgage lending

* FICO (NYSE:FICO [https://seekingalpha.com/symbol/FICO]) on Wednesday announced a new licensing model that allows mortgage tri-merge resellers to calculate and distribute FICO Scores directly, eliminating reliance on the three nationwide credit bureaus.
* The FICO Mortgage Direct License Program is expected to reduce average per-score fees by up to 50%, with a new $4.95 score fee and a $33 funded loan fee per borrower.
* Lenders may alternatively choose to keep the existing $10 per-score pricing.
* Source: Press Release [https://seekingalpha.com/pr/20252144-fico-launches-cost-cutting-direct-license-program-for-mortgage-lending]

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