U.S. Sen. Josh Hawley (R-Mo.) has opened an investigation into Fair Isaac Corp. (FICO)’s pricing practices in the mortgage industry and is urging Federal Trade Commission (FTC) Chairman Andrew Ferguson to do the same.

FICO dominates the credit scoring market for mortgage lenders, largely due to decades of exclusive acceptance for loans sold to Fannie Mae and Freddie Mac. Although the Federal Housing Finance Agency (FHFA) announced last year that competitor VantageScore 4.0 would be accepted as an alternative to Classic FICO, industry sources say the option is not yet operational.

“Rather than competing on price, FICO has leveraged this details ⇒

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