Weekly Real Estate News
Summary
Equifax reported nearly 2,000 lenders and resellers used its VantageScore 4.0 promotional offer April–September 2026, and more than 165 lenders used the $1 score exclusively for certain loans. Equifax extended its $1 price through 2028. Figures are company-reported and do not measure closed agency loans using the score.
Nearly 2,000 mortgage lenders and resellers used Equifax’s promotional VantageScore 4.0 offering between April and September, the credit bureau said Thursday, providing one of the clearest company-reported measures yet of how quickly mortgage firms are testing alternatives to traditional FICO scoring.
Equifax also extended its $1 price for VantageScore 4.0 mortgage scores through the end of 2028. More than 165 lenders have been using the model exclusively at that price for certain types of loans, the company said. Mortgage-related VantageScore 4.0 pulls increased 230% between April and August.
Those figures require careful interpretation. Equifax counted mortgage lenders and resellers that took advantage of an offer providing free VantageScore 4.0 scores alongside purchased legacy scores. Participation in that promotion does not mean all 2,000 firms have stopped using FICO, switched their underwriting to VantageScore or closed loans sold to Fannie Mae and Freddie Mac using the newer model. Equifax did not disclose the number of completed loans or the share of mortgage originations represented by the reported pulls.
Its figures also include resellers, which supply credit information to lenders. A reseller’s participation is not necessarily a separate lending institution adopting a new underwriting model. The company has not released an independently audited list of participating firms.
A longer price window as lenders test score choice
Equifax’s decision to hold the $1 price through 2028 gives lenders more time to compare score performance and technology costs. It follows the Federal Housing Finance Agency’s decision to permit VantageScore 4.0 for eligible loans acquired by the government-sponsored enterprises, a change that ended the longstanding position of classic FICO scores as the sole approved option.
The price extension adds another competitive pressure point. TransUnion announced a 99-cent VantageScore mortgage offer through 2028 in September. Equifax’s price is for its score product; lenders still must consider credit-file, reseller, technology and other origination charges when comparing overall costs.
Equifax chief executive Mark Begor said the company believes broader score choice can improve lending decisions and reduce acquisition costs. Its estimate of up to $1 billion in potential industry and consumer savings is a projection based on score-price differences, not a verified amount already saved or a guaranteed reduction passed to borrowers.
VantageScore 4.0 uses trended credit data and can incorporate rental, telecommunications and utility payment histories. Equifax says those inputs may help assess borrowers whose conventional credit files do not fully capture their payment behavior. Whether the model changes an individual applicant’s qualification or loan terms depends on investor requirements, lender implementation and the applicant’s underlying credit record.
From availability to actual underwriting
Several major lenders have recently moved beyond preliminary testing. Rocket Mortgage said it would make VantageScore 4.0 the default for eligible loans, while Pennymac expanded its use across consumer, broker and correspondent channels. UWM announced a process to pull both FICO and VantageScore and select the qualifying score. These company decisions are stronger evidence of operational use than a count of promotional score pulls, although they still do not establish the marketwide share of originations underwritten with either model.
In a separate announcement Thursday, Equifax introduced Mortgage Score Select, allowing lenders and brokers to obtain an Equifax mortgage credit file with a chosen score or no score and to repull within 24 hours for $1. WRE covered that product launch earlier today. The newly reported adoption figures and 2028 pricing commitment are distinct developments.
The next meaningful industry benchmark will be actual production: how many loans are evaluated, approved and delivered using VantageScore 4.0, how costs compare after all vendor charges, and whether borrowers see measurable benefits. Equifax’s October report shows substantial interest in testing and obtaining the score. It does not yet answer those larger questions.
