FICO News & Events

FICO announced two new features for the FICO Score Mortgage Simulator - FICO Smart Plans and FICO Score Potential - designed to help mortgage professionals move beyond manual scenario simulations toward more automated, algorithmically driven data planning that can deliver better loan outcomes for consumers. The company said, "FICO Smart Plans: Transforms the simulation experience from "do-it-yourself" to "do-it-for-me." Rather than manually running multiple individual "build-your-own" scenarios, mortgage professionals can set a target score goal, define a budget, or allow the system to run optimized actions, and FICO Smart Plans automatically determines the recommended credit action plans for that borrower. The feature evaluates a range of potential credit actions such as adjusting balances, removing authorized user accounts, or resolving third-party medical collections, and delivers a system-generated set of recommended steps. FICO Smart Plans offers three plan types to fit different needs: default score plans, target score plans, and target paydown plans, giving mortgage professionals a faster, smarter way to identify a clear path forward for each borrower. FICO Score Potential: Provides loan officers with the ability to have a preview of their applicant's potential FICO Score increase. By calculating the approximate potential score impact of various scenarios, loan officers can quickly assess whether a client has the potential to reach a higher FICO Score threshold - before ordering the FICO Score Mortgage Simulator and FICO Smart Plan feature. This is a simple but powerful way for lenders to prioritize time and focus on the applicants most likely to see meaningful score movement."

FICO announced the general availability of the next-generation UltraFICO Score, a credit score that combines the proven reliability of the FICO Score, used by 90% of top U.S. lenders, with real-time, consumer-permissioned cash flow data. Developed by FICO and powered by Plaid's data network, the UltraFICO Score provides lenders with an enhanced measure of consumer credit risk, on the same industry standard score scale lenders trust, with minimal operational lift. The UltraFICO Score builds on traditional credit data by incorporating cash flow insights drawn from consumer-permissioned bank account data across Plaid's network of more than 12,000 financial institutions, including cash inflows and outflows, account balance stability, and spending behavior. The result is a single, enhanced score that delivers superior risk assessment without requiring lenders to overhaul their existing decisioning systems.

Notable gainers among liquid option names this morning include ServiceNow (NOW) $109.53 +6.11, Workday (WDAY) $135.75 +6.87, Fair Isaac (FICO) $1237.30 +55.48, Intuit (INTU) $421.60 +18.44, and Gartner (IT) $162.53 +7.10.