--- title: "FICO称UWM是场胜利:UWM软件有四分之一的情况选中VantageScore" description: "费埃哲(Fair Isaac)把联合批发抵押贷款公司(United Wholesale Mortgage,下称UWM)承诺继续调取其评分一事,标榜为\"护城河稳固\"。而就在同一周,UWM的平台开始自动在FICO与VantageScore 4.0中选取较高分,共同持有这一对手评分的三大征信局,已把1美元档定价锁定至2028年。" publisher: "The Inference" section: "Money" published: 2026-10-11T21:13:50.805Z modified: 2026-10-11T21:13:50.805Z canonical: https://theinference.org/article/fico-calls-uwm-a-win-uwm-s-software-picks-vantagescore-a-quarter-of-the-time/zh-CN language: zh-CN keywords: "Fair Isaac, United Wholesale Mortgage, VantageScore, Credit Scores, Mortgages" --- # FICO称UWM是场胜利:UWM软件有四分之一的情况选中VantageScore > 费埃哲(Fair Isaac)把联合批发抵押贷款公司(United Wholesale Mortgage,下称UWM)承诺继续调取其评分一事,标榜为"护城河稳固"。而就在同一周,UWM的平台开始自动在FICO与VantageScore 4.0中选取较高分,共同持有这一对手评分的三大征信局,已把1美元档定价锁定至2028年。 ## FICO宣布收获"忠诚";UWM把选择权交给了软件 10月6日,费埃哲(Fair Isaac)全天都在庆祝联合批发抵押贷款公司(United Wholesale Mortgage),宣布UWM"[重申承诺](https://www.marketscreener.com/news/fair-isaac-corporation-announces-united-wholesale-mortgage-s-reaffirmation-commitment-to-fico-scores-ce785dded98bf623)",将在经纪渠道贷款业务的每一次征信查询中调取FICO评分[1]。而另一步棋,UWM早已落子:[其平台如今自动选取较高的合格分](https://theinference.org/article/america-s-no-1-mortgage-lender-now-pulls-a-rival-score-on-every-loan-and-fico-calls-it-loyalty),在每款产品上都于经典FICO(Classic FICO)与VantageScore 4.0之间二选一;这个选择过去由经纪人做出[2]。"谁都不该操心哪种信用模型会赢,"UWM首席执行官马特·伊什比亚说,"这件事我们自动处理。"[2] 在同一轮调整中,UWM[取消了对机构贷款自设的最低信用分"叠加要求"(overlay)](https://nationalmortgageprofessional.com/news/uwm-removes-credit-score-overlays-automates-score-selection),借款资质如今由机构核保系统认定,不再受UWM自己的信用分下限约束[2]。按放款金额计,UWM是美国最大的房贷发放机构,2025年放款约1643亿美元[3]。 ## 每一次查询都收费,每一笔贷款却未必选用 FICO在每一次征信查询上仍照收费用;让出去的,是选择权。UWM自己的数据显示,约25%的借款人按VantageScore 4.0计算能拿到更有利的结果,该公司称这一比例到9月底可能升至40%[4]。这一比例是否兑现,尚无报道。 这张台子是监管机构搭起来的:9月29日,联邦住房金融局(FHFA)局长比尔·普尔特[推动房利美、房地美对两种评分实行统一的定价表](https://www.housingwire.com/articles/fhfa-gses-one-grid/),并取消了此前对VantageScore评分结果下调20分的调整[4]。 ## 对手评分的东家,正是分销商 VantageScore由Equifax、益博睿(Experian)和环联(TransUnion)共同持有,这三家征信机构同时也是FICO评分的分销商;VantageScore的售价仅为FICO的零头[5]。Equifax称,4月至9月,近2000家贷款机构在付费使用既有评分的同时,免费启用了VantageScore 4.0;4月至8月,该评分的房贷查询量增长230%[6]。目前已有超过165家贷款机构在部分贷款上以1美元的价格独家使用该评分,Equifax已将这一价格锁定至2028年底[6]。 环联已[将0.99美元的价格维持到2028年底](https://markets.businessinsider.com/news/stocks/transunion-extends-99-cent-mortgage-pricing-for-vantagescore-4-0-through-the-end-of-2028-to-support-competition-and-price-stability-in-mortgage-credit-scoring-1036580872),且凡购买FICO评分,一律免费附赠VantageScore[7]。PennyMac已于10月5日在全部业务渠道完成该评分的部署[8]。Rocket在测试了140万份征信报告后,将其定为首选评分模型;受益借款人平均在交割时省下1600美元[4]。 *Chart: **FICO营收一路加速,直至评分规则调整** 折线图显示,费埃哲(Fair Isaac)季度营收从截至2024年9月的季度到截至2026年6月的季度,由约4.54亿美元升至6.74亿美元,进入2026年后明显跃升。* *按日历季度排列的费埃哲季度营收,单位为百万美元,数据来自其向美国证券交易委员会(SEC)提交的文件。截至2026年6月的季度,是联邦住房金融局(FHFA)9月评分规则调整前披露的最后一个季度。 [9]* ## 第四季度将为损失定价 FICO的引擎仍在运转:上季度[营收6.742亿美元,同比增长25.7%,营业利润率53.8%](https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0000814547)[9]。它的反制措施——随经典FICO(Classic FICO)免费搭送FICO 10T[1],以及[裁员15%](https://theinference.org/article/fico-cuts-about-570-jobs-the-week-fhfa-leveled-its-pricing-moat)、将约2700万美元费用计入财年第四季度[10]——守住的是业务量,而非价格。 *Chart: **营业利润率进入2026年继续攀升,稳守53%以上** 折线图:费埃哲(Fair Isaac)营业利润率按日历季度变化,从2024年三季度到2026年二季度,由43.4%升至2026年一季度58.2%的峰值,随后回落至53.8%。* *费埃哲(Fair Isaac)营业利润率(以占营收百分比计)按日历季度变化,数据来自其向美国证券交易委员会(SEC)提交的文件。2026年一季度创下峰值;2026年二季度是联邦住房金融局(FHFA)9月调整评分规则之前披露的最后一个季度。 [9]* FICO股价10月9日收报667.58美元,自1月以来累计下跌60.5%[1]。如今,FICO收着费出场,决策却已不由它掌控。 ## Takeaway FICO仍在每一次征信查询中收费,但UWM的软件如今自动选取较高分,四分之一的借款人落在VantageScore 4.0上,三大征信局也已把1美元档定价锁定至2028年。 ## Sources 1. [MarketScreener, Fair Isaac Corporation Announces United Wholesale Mortgage's Reaffirmation Commitment to FICO Scores, 6 October 2026](https://www.marketscreener.com/news/fair-isaac-corporation-announces-united-wholesale-mortgage-s-reaffirmation-commitment-to-fico-scores-ce785dded98bf623) 2. [National Mortgage Professional, UWM Removes Credit Score Overlays, Automates Score Selection, 7 October 2026](https://nationalmortgageprofessional.com/news/uwm-removes-credit-score-overlays-automates-score-selection) 3. [National Mortgage Professional, Rocket Tops UWM In 2025 HMDA Loan Count As UWM Keeps Volume Crown, 7 April 2026](https://nationalmortgageprofessional.com/news/rocket-tops-uwm-2025-hmda-loan-count-uwm-keeps-volume-crown) 4. [HousingWire, FHFA says Fannie, Freddie will use one LLPA grid for FICO, VantageScore, 29 September 2026](https://www.housingwire.com/articles/fhfa-gses-one-grid/) 5. [Tickeron, Fair Isaac (FICO) Stock Drops -25% as Mortgage Scoring Rules Evolve, 8 October 2026](https://tickeron.com/blogs/fair-isaac-fico-stock-drops-25-as-mortgage-scoring-rules-evolve-18029/) 6. [Yahoo Finance / PR Newswire, Equifax Reports Accelerated Adoption of VantageScore 4.0 Across the Mortgage Industry, 8 October 2026](https://finance.yahoo.com/real-estate/articles/equifax-reports-accelerated-adoption-vantagescore-204000792.html) 7. [Markets Insider / GlobeNewswire, TransUnion Extends 99-Cent Mortgage Pricing for VantageScore 4.0 Through the End of 2028, 29 September 2026](https://markets.businessinsider.com/news/stocks/transunion-extends-99-cent-mortgage-pricing-for-vantagescore-4-0-through-the-end-of-2028-to-support-competition-and-price-stability-in-mortgage-credit-scoring-1036580872) 8. [Yahoo Finance / MT Newswires, PennyMac Completes VantageScore 4.0 Deployment Across Production Channels, 5 October 2026](https://finance.yahoo.com/real-estate/articles/pennymac-completes-vantagescore-4-0-213027776.html) 9. [Fair Isaac (FICO), quarterly figures from its SEC filings, retrieved 11 October 2026](https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0000814547) 10. [Trend & Ticker, Fair Isaac layoffs cut 15% of FICO jobs, $27M charge (Form 8-K, Item 2.05), 8 October 2026](https://trendandticker.com/markets/services/fair-isaac-fico-cuts-15-percent-of-jobs-27-million-charge) --- FICO称UWM是场胜利:UWM软件有四分之一的情况选中VantageScore — The Inference. Canonical: https://theinference.org/article/fico-calls-uwm-a-win-uwm-s-software-picks-vantagescore-a-quarter-of-the-time/zh-CN