Business Strategy & Market Dynamics - FICO will license its credit scores directly to mortgage resellers, bypassing credit bureaus [1] - The move aims to increase competition and lower costs for the mortgage industry [3] - FHFA director views increased competition as making the market safer, sounder, and more cost-effective [1] - Score prices are expected to be flat to down for next year [3] Financial Implications - Cost containment in the system ultimately benefits consumers [5] - FICO scores will cost less or remain flat, benefiting consumers [6] - The direct licensing move is considered beneficial for FICO [6] Credit Conditions & Economic Outlook - Consumers are currently extended, and pressure is building in the credit market [7][8] - The timing of a potential economic reckoning is uncertain [8] - FICO scores are a lagging indicator of economic conditions [10]

Credit Scores & Consumer Affairs - Experian's senior consumer affairs manager John Webb provides expertise on credit scores [1] - The discussion involves personal finance topics [1] Media & Communication - Merryn Somerset Webb and John Stepek host the "Merryn Talks Money" podcast [1]

Industry Trend - FICO is incorporating buy now, pay later (BNPL) activity into its credit scores [1]