In short: Cited as evidence, not a stance — the bureau least hurt by Pulte's campaign: down 15% YTD vs Equifax's 25%, because it gets a smaller share of profits from mortgage scoring. No position stated.
5:39He also criticized the credit bureaus for price gouging as well. His criticisms have been very effective from a stock perspective. Year-to date, FICO is down 43% and Equifax and TransUnion are down 25% and 15% respectively. The reason why Equifax is down more than TransUnion is that Equifax has a bigger percentage of its profits from mortgage scoring than does TransUnion.
In short: The Earnings-Growth-Model spotlight — ninth on that list at a 19.33% expected return (13.9% EPS growth, 14.7× forward vs a 21.8 exit multiple). Risks named: a weaker economy cutting borrowing and mortgage activity, and FHFA chairman Bill Pulte studying "a single credit report and bi-merge credit reporting." Answer: "TransUnion is still active in an oligopoly together with Equifax and Experian. This is very attractive," and guidance was just raised. Not on the 56-row Buy sheet image.
TransUnion is one of the three credit bureaus that keep the records lenders use to decide who gets a loan and at what rate. When you apply for a mortgage or a credit card, one or more of the three is almost always paid for a report.
Two worries have pushed the shares down: a weaker economy means fewer loans and mortgages, and the head of the US housing-finance regulator has said he is studying requiring only one or two credit reports for mortgages instead of three — which would directly cut how many reports get sold. The letter's view is that the structure still wins: an industry with only three players, all essential, is hard to disrupt, and the company has just raised its guidance. Its model expects roughly a 19% yearly return from here.
In short: The second of the three bureaus named as FICO's licensees. No view.
In short: Named as the third credit bureau licensing the FICO score. No stance.
In short: Named as the third credit bureau licensing the FICO score. No stance.
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