Equifax Reports Q3 Results, Excluding FICO Mortgage Revenue
What happened
Equifax reported third-quarter 2026 results, noting that a decline in the U.S. mortgage market reduced Q3 revenue by about $20 million relative to expectations. The company stated that when excluding FICO-related mortgage revenue, its revenue grew 7%, which was in line with prior guidance.
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Why it matters
Rising 30-year fixed mortgage rates, which reached roughly 7.5% in September, weakened mortgage transaction volumes during the second half of the quarter. This decline in the mortgage market affects the revenue expectations of credit reporting agencies and lenders.
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Who's involved
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- ExperianSpeculative
Experian might see reduced credit demand due to the sharp weakening in the U.S. mortgage market.
- TransUnionSpeculative
TransUnion could face reduced credit demand due to the sharp weakening in the U.S. mortgage market.
- MastercardSpeculative
Mastercard might experience reduced payment processing revenue as the weakening mortgage market reduces transaction volumes.
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The entities involved
Related events
- FHFA accepted alternative credit scoring models, including FICO Score 10T, while the Trump administration directed CFPB to cut mortgage cost drivers.
- FICO shared survey results with USA TODAY, noting that lenders utilize credit scores from agencies like Equifax.
- Equifax is assisting lenders in preparing for upcoming changes mandated by the Federal Housing Administration.