Cracker Jacks, Quaker Oats, Ferris Wheels, and 1893 Chicago have something in common. World’s Fairs, and World’s Expos, have pretty much gone away due to financial issues. A lot has happened since then, financially, and otherwise. Equifax was founded in 1899. The modern credit card, able to be used at various merchants, was developed in the 1950s, when many of today’s loan officers were entering the business. (Ok, just kidding.) FICO (legal name: Fair Isaac Corporation) began in 1956. FICO’s latest news came out yesterday with Encompass Lending Group and Equity Resources, Inc. being the latest to adopt FICO® Score 10 T. Meanwhile, the Mortgage Bankers Association and others have stated that credit-related price hikes have cost lenders & consumers hundreds of millions of dollars. FICO’s executives are well paid. FICO’s stock, at around $1,500 per share, has a price earnings ratio at around 77 (versus the S&P 500 average of around 25) although the only product with any great revenue growth is mortgage credit scores. (Other lines are flat or mediocre.) Observers suggest that Fair Isaac may only have two choices going forward: keep raising mortgage credit score prices even higher or watch its stock price plunge. Some give it near-monopoly status; American Economic Liberties Project’s Matt Stoller uses the word “cartel” when it comes to Experian, TransUnion, Equifax, and FICO. (Today’s podcast is found here and this week’s is sponsored by Bundle, the attorney-prepared legal documents company that is dedicated to the real estate, mortgage, and title industries. Fuel your operations and execution of documents from deeds to subordinations to assignments, and everything you need for any order, in one bundled price; receive 20 percent off using the code “Chrisman” at checkout. Hear an Interview with FirstClose’s Tedd Smith on a new national consumer survey that explored homeowners’ level of awareness of home equity and how it could be used to pay down higher interest credit card debt.)