Equifax Reiterates Support for U.S. Federal Housing Finance Agency's Commitment to Mortgage Affordability

Equifax (NYSE: EFX) announced it will offer VantageScore 4.0 mortgage credit scores for $1, aiming to reduce loan acquisition costs and accelerate industry adoption.

Rhea-AI Summary

Equifax (NYSE: EFX) announced it will offer VantageScore 4.0 mortgage credit scores for $1, aiming to reduce loan acquisition costs and accelerate industry adoption. Equifax says this pricing could generate a potential $1 billion in mortgage-industry savings and represents a 90% cost reduction versus current lender score costs.

The company will continue to provide free VantageScore 4.0 to customers who purchase FICO scores and add alternative data and employment indicators to mortgage credit reports at no additional cost.

Positive

• VantageScore 4.0 priced at $1 for mortgage use
• Potential $1 billion in industry cost savings
• 90% savings versus lenders' current mortgage score costs
• 20% lift in originations cited using VantageScore 4.0

Negative

• None.

Argus Mar 10 session

-4.24% close to close Open Argus

Details

News Market Reaction – EFX

On Mar 10, the first trading day after this news, EFX closed 4.24% below the previous close.

Data tracked by StockTitan Argus for the Mar 10 session.

Key Figures

VantageScore 4.0 price: $1 Industry cost savings: $1 billion Cost savings percentage: 90% +5 more

VantageScore 4.0 price

$1

Price per VantageScore 4.0 mortgage credit score for lenders

Industry cost savings

$1 billion

Potential mortgage industry and consumer savings from pricing change

Cost savings percentage

90%

Savings versus current lender mortgage credit score costs

Mortgage lenders using offer

over 250

Lenders using free VantageScore with paid FICO scores

Non-GSE lenders

more than 40

Non-GSE lenders using only VantageScore for some portfolios

Lift in originations

20%

Increase in originations from VantageScore 4.0 without extra risk

Minimum history

1 month

Minimum credit history needed for VantageScore 4.0 to generate a score

Trended data window

2 years

Maximum trended data period used to maintain a score

Historical Context

5 past events · Latest: Mar 03

5 events

1. Mar 03

   Investor conferences

   24h Move

   +0.1%

   Participation in three March 2026 investor conferences to engage with shareholders.

2. Feb 26

   Management change

   24h Move

   +0.5%

   Appointment of David Smith as President of U.S. Information Solutions.

3. Feb 25

   Dividend increase

   24h Move

   +4.9%

   Board authorized a 12% quarterly dividend increase to $0.56 per share.

4. Feb 24

   Credit trends data

   24h Move

   +2.0%

   Market Pulse data showed U.S. consumer debt reached $18.20 trillion, up 3.7% YoY.

5. Feb 17

   Product launch

   24h Move

   -0.1%

   Launch of Optimal Path credit score action plans in the myEquifax app.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

fhfa, government-sponsored enterprises (gses), trended credit data, alternative data

4 terms

fhfa regulatory

"reiterating its support of the U.S. Federal Housing Finance Agency (FHFA) Director Bill Pulte's decision"

Federal Housing Finance Agency (FHFA) is the U.S. government regulator that oversees key parts of the housing finance system, including the agencies and banks that back and buy mortgages. Think of it as a referee and rule-maker: it sets limits, enforces safety rules, and can take corrective action to stabilize the market. Investors watch FHFA because its decisions influence mortgage availability, loan limits, risk rules and the value of mortgage-related assets.

government-sponsored enterprises (gses) regulatory

"collaboration between the FHFA, Government-Sponsored Enterprises (GSEs), and the industry in testing"

Government-sponsored enterprises (GSEs) are financial firms created by law to promote public goals—such as making home and student loans more available—by buying, backing or guaranteeing loans while operating as privately owned entities. They matter to investors because their close connection to the government can make their bonds and securities feel safer than fully private issuers, but that perceived safety depends on government policy and can change, so investors must weigh lower risk against possible political or market shifts.

trended credit data technical

"Trended credit data reflects changes in credit data over time for a fuller financial picture."

Trended credit data is a record of a borrower’s credit behavior over time—showing how balances, payments and utilization rise or fall month to month—rather than a single snapshot. Like watching a short video instead of a photo, it helps investors see whether credit risk is improving or deteriorating, which improves forecasting, loan pricing and the assessment of a company’s or loan pool’s long‑term financial health.

alternative data technical

"uses trended data and alternative data (including rental, utilities and telecommunications payment histories)"

Alternative data is information from non‑traditional sources—like satellite photos, online shopping and search trends, credit‑card or foot‑traffic counts, and sensor or app activity—used to gauge a company’s sales, supply chain, or market demand. It matters to investors because it can reveal rising or falling trends sooner than official reports, acting like a private weather radar that helps anticipate outcomes, though it requires careful interpretation to avoid noise or bias.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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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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SOURCE Equifax Inc.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What is Equifax announcing about VantageScore 4.0 pricing for mortgages (EFX)?

Equifax will offer VantageScore 4.0 mortgage scores for $1, lowering score costs for lenders. According to the company, this pricing aims to reduce loan acquisition costs and accelerate adoption of modern scoring in mortgage underwriting across the industry.

How much industry savings does Equifax say the $1 VantageScore 4.0 price could generate (EFX)?

Equifax estimates a potential $1 billion in savings across the mortgage industry. According to the company, the figure reflects cost differences among score providers and projected adoption-driven reductions in loan acquisition expenses.

Will Equifax still provide VantageScore 4.0 free to certain customers (EFX)?

Yes. Equifax will continue offering free VantageScore 4.0 to mortgage, automotive, card, and consumer finance customers who purchase FICO scores. According to the company, this is intended to encourage lenders to evaluate competing scoring models.

What additional data will Equifax include with mortgage credit reports (EFX)?

Equifax will include alternative data and an employment indicator alongside mortgage credit reports at no extra cost. According to the company, telecom, pay TV, utilities attributes and The Work Number® indicator are part of this package.

What evidence does Equifax cite for VantageScore 4.0 performance in mortgage lending (EFX)?

Equifax cites up to a 20% lift in originations without added risk when using VantageScore 4.0. According to the company, trended and alternative data provide fuller borrower profiles and support greater access to credit.