Leading U.S. mortgage lender to leverage the industry's most predictive score to expand risk management and give customers responsible access to credit

BOZEMAN, Mont.--(BUSINESS WIRE)--Jun. 9, 2026-- Global analytics software leader FICO (NYSE: FICO), today announced that Rate, one of the largest mortgage lenders and leading fintech companies in the United States, has adopted FICO^® Score 10T, the industry’s most predictive credit scoring model, as part of its credit evaluation process.

As one of the top U.S. mortgage lenders by origination volume, Rate originates across a wide range of products — conventional, FHA, VA, jumbo, non-QM, and HELOCs — making the company uniquely positioned to put FICO^® Score 10T to work at scale. Its addition to the FICO Score 10T Free Access Program brings total participating lender volume to $538.72 billion in originations and a $1.668 trillion servicing portfolio.

“The mortgage industry needs better ways to understand a customer’s full credit picture,” said Victor Ciardelli, CEO of Rate. “FICO Score 10T gives lenders more insight, which helps us make smarter decisions and create more opportunities for qualified borrowers. At Rate, we’re always going to look at technology that helps more people move forward with confidence.”

FICO^® Score 10T uses trended credit bureau and rental history data to give lenders a more predictive view of borrower risk. It could enable up to 5% more loan approvals without added risk or up to 17% reduction in delinquencies.

“Rate’s adoption of FICO Score 10T reflects how lenders are setting a higher bar for mortgage credit decisioning,” said Julie May, vice president and general manager of B2B Scores at FICO. “FICO Score 10T delivers a more predictive view of borrower risk by harnessing trended data to analyze credit behavior over time. As the mortgage industry continues to focus on modernization, we applaud lenders such as Rate for leading the way by leaning on FICO’s most predictive credit score while also equipping their customers.”

To ensure lenders can evaluate the findings for themselves, FICO® Score 10T is currently available at no cost alongside Classic FICO through the FICO Score 10T Free Access Program, enabling side-by-side testing without requiring lenders to pay for an additional score. More than 60 lenders have signed up so far.

For more information on how to sign up for the FICO Score 10T Free Access Program, visit the FICO Score 10T Migration Resource Center.

About FICO

FICO (NYSE: FICO) powers decisions that help people and businesses around the world prosper. Founded in 1956, the company is a pioneer in the use of predictive analytics and data science to improve operational decisions. FICO holds more than 200 U.S. and foreign patents on technologies that increase profitability, customer satisfaction and growth for businesses in financial services, insurance, telecommunications, health care, retail and many other industries. Using FICO solutions, businesses in more than 80 countries do everything from protecting 4 billion payment cards from fraud, to improving financial inclusion, to increasing supply chain resiliency. The FICO® Score, used by 90% of top U.S. lenders, is the standard measure of consumer credit risk in the U.S. and has been made available in over 40 other countries, improving risk management, credit access and transparency.

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About Rate

Rate Companies is a leader in mortgage lending and digital financial services. Headquartered in Chicago, Rate has over 850 branches across all 50 states and Washington D.C. Since its launch in 2000, Rate has helped more than 2 million homeowners with home purchase loans and refinances. The company has cemented itself as an industry leader by introducing innovative technology, offering low rates, and delivering unparalleled customer service. Honors and awards include: Top 5 Mortgage Lender by Inside Mortgage Finance for 2024; Best Mortgage Lender for First-Time Homebuyers by NerdWallet for 2023; HousingWire's Tech100 award for the company's industry-leading FlashClose℠ digital mortgage platform in 2020, MyAccount in 2022, and Language Access Program in 2023; the most Scotsman Guide Top Originators for 11 consecutive years; Chicago Agent Magazine's Lender of the Year for seven consecutive years; and Chicago Tribune's Top Workplaces list for seven straight years. Visit rate.com for more information.

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Media Contact
press@fico.com
press@rate.com

Source: FICO