TransUnion shares fell 7.02% to $78.96 Friday after Federal Housing Finance Agency Director Bill Pulte threatened regulatory changes to mortgage credit reporting. Pulte accused TransUnion, Equifax and Experian of overcharging consumers and said the FHFA was seriously considering a bi-merge model, which would let lenders use two rather than three bureau reports for loans delivered to Fannie Mae and Freddie Mac. That change could reduce industry report volume by one-third, outweighing the potential benefit to TransUnion from a directive allowing all lenders to use VantageScore 4.0, a credit-scoring model co-owned by TransUnion, Equifax and Experian. Pulte also said FICO had raised the price of an individual credit score by 1,800% since 2020 and that initial VantageScore adoption had involved 50 lenders delivering loans.