Company Drives Potential $1 Billion in Industry Cost Savings and Reduces Loan Acquisition Costs with New VantageScore® 4.0 Mortgage Credit Score Pricing Changes
- Equifax is advancing housing affordability and driving adoption by the mortgage industry by offering VantageScore® 4.0 mortgage credit scores at $1 – reducing loan acquisition costs to make the path to homeownership more affordable for everyone.
- Free VantageScore 4.0 credit scores will continue to be offered to all Equifax mortgage, automotive, card, and consumer finance customers who purchase FICO scores to drive industry adoption.
- Equifax continues to enhance the value of mortgage solutions by delivering The Work Number® Report Indicator and additional alternative data including telecom, pay TV and utilities attributes alongside the Equifax mortgage credit report at no cost.
- Free income and employment indicators are also available alongside Equifax credit reports for automotive and card financing with consumer finance scheduled for introduction later in 2026.
- Actions benefit underserved consumers by providing ready access to a scoring model that includes alternative data not found in traditional scores, and has the potential to save the mortgage industry and consumers an estimated $1 billion.
ATLANTA, March 9, 2026 /PRNewswire/ — Equifax® (NYSE: EFX) is reiterating its support of the U.S. Federal Housing Finance Agency (FHFA) Director Bill Pulte’s decision in July 2025 to bring scoring competition to the mortgage industry and his commitment to mortgage affordability by offering VantageScore® 4.0 mortgage credit scores for $1. This move – which provides a 90% savings over lenders’ current mortgage credit score costs – builds on the February 2026 economic benefits study conducted by Deep Future Analytics. Lowering the cost of VantageScore 4.0 mortgage credit scores to $1 will enable a potential $1 billion in savings for the mortgage industry derived from the cost difference among score providers, drive adoption by the mortgage industry, and reduce loan acquisition costs for consumers. Equifax will also continue to offer free VantageScore 4.0 credit scores to all Equifax customers in mortgage, automotive, card and consumer finance who purchase FICO scores. This action benefits underserved consumers by providing ready access to a scoring model that includes alternative data not found in traditional scores.
“Equifax is deeply committed to supporting the mortgage industry and the consumers it serves, especially as we navigate the most difficult mortgage market in decades. We view our role in expanding homeownership as a vital responsibility and with today’s announcement we are rising to FHFA Director Pulte’s challenge to also make mortgage costs more affordable,” said Mark W. Begor, Equifax Chief Executive Officer. “There has been strong, ongoing collaboration between the FHFA, Government-Sponsored Enterprises (GSEs), and the industry in testing and exploring the benefits of VantageScore 4.0 implementation in mortgage lending. Significantly reducing the cost of VantageScore 4.0 to $1, and offering it free to customers who also purchase a FICO score, makes it easier for even more lenders to evaluate the higher-performing score. We expect this important initiative to further accelerate Director Pulte’s vision for score competition, enable lenders to invest in the operations to support modern scores, and generate a significant $1 billion in potential savings across the industry and for consumers.”
“Currently, over 250 mortgage lenders are taking advantage of the Equifax offer of free VantageScore credit scores with paid FICO scores, and more than 40 non-GSE lenders are in production with only VantageScore credit scores for some of their portfolios. More data drives better decisions and VantageScore 4.0 provides a fuller view of consumers’ financial profiles. Once VantageScore is fully adopted by FHFA, the increased competition in the scoring industry will result in direct cost savings to consumers,” Begor continued.
VantageScore 4.0 uses trended data and alternative data (including rental, utilities and telecommunications payment histories) to enhance the assessment of creditworthiness. Setting a model for the industry, it was the first credit score to incorporate these factors, with a goal of expanding access to credit for millions more Americans. Trended credit data reflects changes in credit data over time for a fuller financial picture. These deeper insights have proven to provide a 20% lift in originations without adding incremental risk – enabling greater mainstream financial opportunities for more people. Additionally, VantageScore 4.0 generates scores using as little as one month of history, while leveraging up to two years of trended data to maintain a score—even during periods of inactivity.
“The total cost of owning a home has increased significantly since 2020, with American homebuyers challenged by increasing home values, high interest rates, and increasing taxes and insurance,” said Joel Rickman, General Manager and Senior Vice President of U.S. Mortgage and Verification Services at Equifax. “As the spring homebuying season gets underway, we believe that more borrowers deserve the chance at a conforming mortgage. Equifax is driving the next generation of mortgage lending by offering unparalleled visibility into consumer financial health. Our proprietary data is the foundation of our highly differentiated products and analytical capabilities through which our customers generate unique solutions. We are also providing an employment and income verification indicator as well as additional alternative data including telecom, pay TV and utilities attributes alongside every Equifax Consumer Credit Report in the mortgage market. The greater visibility we provide allows for more efficient underwriting and can help open new homeownership opportunities for millions of Americans.”
Equifax is the only Nationwide Consumer Reporting Agency to provide alternative data including telecom, pay TV and utilities attributes alongside consumer credit reports for the mortgage market, at no additional cost to lenders. These insights provide a more complete financial picture of a borrower that can make mortgage underwriting faster and easier and are only used to help consumers obtain a mortgage loan.
Additionally, Equifax is the first to empower lenders by delivering an indicator of employment status earlier in the mortgage qualification process through The Work Number® Report Indicator, alongside the Equifax mortgage prequalification credit report. Delivering this unique solution with the Equifax credit report at no additional cost, enables our customers to instantly view whether an employment record for an applicant is available on The Work Number database, making the lending process easier for lenders and applicants alike. Indicator Reports for the automotive, bank card, and consumer finance industries will be available later in 2026.
FORWARD-LOOKING STATEMENTS
This release contains certain forward-looking information to help you understand Equifax and its business environment. All statements that address operating performance and events or developments that we expect or anticipate will occur in the future, including statements relating to the pricing strategies, potential benefits and value propositions of product offerings of Equifax and its competitors, are forward-looking statements. We believe these forward-looking statements are reasonable as and when made. However, forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from our historical experience and our present expectations or projections. These risks and uncertainties include, but are not limited to, those described in our 2025 Form 10-K and subsequent SEC filings. As a result of such risks and uncertainties, we urge you not to place undue reliance on any forward-looking statements. Forward-looking statements speak only as of the date when made. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
ABOUT EQUIFAX INC.
At Equifax (NYSE: EFX), we believe knowledge drives progress. As a global data, analytics, and technology company, we play an essential role in the global economy by helping financial institutions, companies, employers, and government agencies make critical decisions with greater confidence. Our unique blend of differentiated data, analytics, and cloud technology drives insights to power decisions to move people forward. Headquartered in Atlanta and supported by nearly 15,000 employees worldwide, Equifax operates or has investments in 24 countries in North America, Central and South America, Europe, and the Asia Pacific region. For more information, visit Equifax.com.
FOR MORE INFORMATION:
Stacy Kirk for Equifax
mediainquiries@equifax.com
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