Fair Isaac shares fell nearly 27% on Tuesday, their steepest one-day decline since May 1989, after Federal Housing Finance Agency Director Bill Pulte said Fannie Mae and Freddie Mac would adopt one mortgage-pricing grid for FICO Classic and VantageScore. The policy removes separate pricing treatment that had favored FICO in a market it dominated for decades and broadens lenders' ability to use VantageScore 4.0 in conforming mortgage lending. The stock, previously reported down 24.57% at $634.27, is now about 59% below its level a year ago and trading at its lowest levels since early 2023. TransUnion extended 99-cent pricing for standalone VantageScore 4.0 mortgage-origination scores through December 2028, while TransUnion fell 4.6% and Equifax also traded lower. TD Cowen's Jaret Seiberg said the policy is designed to steer lenders toward VantageScore rather than determine which score better predicts defaults, while RBC's Ashish Sabadra cited increased score-shopping risk.