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  1. FICO shared survey results with USA TODAY, noting that lenders utilize credit scores from agencies like Equifax.

Equifax launches score selection tool for mortgage lenders

1 report, 1 independent Updated Thu 00:00
AI-generated briefing. Brind wrote this from the reports listed below. It can be wrong. Each section says how much you can rely on it, and the sources are linked so you can check.

What happened

Some supportReported by 1 outlet

Equifax released Equifax Mortgage Score Select™, a solution that allows mortgage lenders and brokers to pull an Equifax mortgage credit file with a selected score or without a score during loan origination. This offering helps prepare the industry for the January 1, 2027, FHA acceptance of VantageScore® 4.0.

From prnewswire.com

Why it matters

Some supportBrind's analysis of the reports

The new solution provides mortgage lenders and brokers with greater flexibility and cost efficiency during loan origination. It enables the industry to utilize various scores, including Classic FICO® and FICO® Score 10T, ahead of mandated regulatory changes.

Lenders utilize credit scores from agencies like Equifax, based on survey results shared by FICO.

From prnewswire.com

Who's involved

  • EquifaxProvides the Mortgage Score Select™ solution to lenders and brokers.
  • FICOClassic FICO® and FICO® Score 10T are scores available through the new solution.
  • Freddie MacEquifax supplies credit scores essential for Freddie Mac's loan purchasing and risk modeling operations.

Who could feel it

Possible knock-on effects

These are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.

  • Primary Residential Mortgage, Inc.Speculative

    Primary Residential Mortgage, Inc. could gain operational cost savings and flexibility in mortgage origination.

  • SoFiSpeculative

    SoFi may benefit from operational cost savings and flexibility in mortgage origination.

  • Keefe, Bruyette & WoodsSpeculative

    Keefe, Bruyette & Woods could see increased demand for specialized data analysis due to new score acceptance and flexibility.

Keep exploring

Part of

FICO shared survey results with USA TODAY, noting that lenders utilize credit scores from agencies like Equifax. All 1 developments

The entities involved

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Coverage

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