The offering gives lenders and brokers the authority to pull credit files with a specific score—be it Classic FICO, FICO Score 10T, or VantageScore 4.0—or to omit a score entirely during the initial origination phase. Equifax has also introduced a secondary pull feature, permitting users to refresh a file within 24 hours for a flat fee of $1 plus the cost of the chosen score. This mechanism is designed to provide greater control over underwriting costs while ensuring files remain compliant with varying investor requirements.
In section Releases
Equifax Launches Mortgage Score Select to Ease Credit Scoring Transition
As the mortgage industry prepares for a multi-score future, Equifax is introducing a tool allowing lenders to dictate precisely which credit score accompanies a loan file. The solution, dubbed Mortgage Score Select, arrives as firms scramble to align their origination processes with upcoming federal mandates for diverse scoring models.
Joel Rickman, General Manager and SVP of U.S. Mortgage and Verification Services, noted that the platform aims to help lenders qualify a broader range of borrowers through expanded data sets. Beyond current operational needs, the tool serves as a bridge to January 1, 2027, when the Federal Housing Administration begins accepting VantageScore 4.0. By standardizing the file structure regardless of the chosen metric, Equifax intends to simplify the transition for institutions navigating the shift toward a more fragmented credit scoring landscape.
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