Buzz-US credit reporting agencies slip after Pulte's VantageScore directive
EFX•Credit reporting agencies and FICO fall premarket
U.S. credit reporting agencies slipped premarket on Thursday after Bill Pulte, U.S. Director of Federal Housing, said he directed Fannie Mae and Freddie Mac to use the credit scoring system VantageScore.
Freddie Mac and Fannie Mae were created by the U.S. Congress to support the housing market.
Shares of Fair Isaac FICO.N, better known as FICO, fell 3.9%; FICO provides credit score modeling services and is a rival to VantageScore.
Credit reporting agency TransUnion TRU.N was down 5.8%, while Equifax EFX.N fell 4.3%.
Founded in 2006, VantageScore is a credit score modeling and analytics company jointly owned by Equifax, Experian and TransUnion.
In a separate post, Pulte said credit reporting agencies have been overcharging Americans for "far too long".
