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Why Competition?

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Why competition? What’s in it for me? Competition makes markets more efficient, encourages innovation, and guards against unfair pricing practices.

Last year, FICO imposed a historic price increase on mortgage borrowers for a scoring model approaching 20 years old. That is the essence of monopolistic behavior and control, and for the betterment of the entire mortgage echo system, this should not be allowed.1

Moreover, competition will encourage model developers to continue building better models. Since 2006, competition has led to multiple new versions of VantageScore as well as competitive models. These new versions continue to improve in terms of consistency, predictive power, and consumer-friendliness.

1 VantageScore Solutions is not involved in the sale or pricing of its models or that of the credit scores calculated using its models.

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