Equifax Extends Discounted VantageScore 4.0 Pricing Through 2028
Nearly 2,000 mortgage lenders are adopting VantageScore 4.0 as Equifax locks in $1 pricing through 2028 to boost homeownership access.
Nearly 2,000 mortgage lenders and resellers are moving to implement VantageScore 4.0, an alternative data-driven credit scoring model, as Equifax announced it will extend its $1 pricing for the product through the end of 2028, the company said.
The pricing commitment is designed to accelerate industry-wide adoption of the modern scoring model, which relies on alternative data to evaluate borrower creditworthiness. Equifax positioned the extended discount as a direct effort to lower costs for lenders and, ultimately, to improve homeownership affordability for consumers who may not score well under traditional credit models.
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VantageScore 4.0 has gained traction in the mortgage sector as regulators and lenders seek tools that can expand credit access to underserved borrowers. The model incorporates trended credit data and alternative data points, offering lenders a broader view of a borrower's financial behavior compared to older scoring methodologies.
The near-2,000 figure for lenders and resellers currently implementing the score signals meaningful momentum in what has historically been a slow-moving segment of the credit industry. Mortgage lending has long been dominated by legacy scoring models, making the scale of adoption notable for an alternative product.
By locking in below-market pricing for three additional years, Equifax is signaling a long-term strategic bet that VantageScore 4.0 will become a standard tool across the mortgage origination pipeline. Continue reading at All Financial Services & Investing.
