TransUnion Launches First Look Functionality for Mortgage Lenders

GlobeNewswire··US·Read original
2▲1 ▼1Impact / 5
Summary · why it matters

TransUnion has launched TransUnion First Look Functionality for Mortgage, a data-first workflow that lets mortgage lenders review credit insights before purchasing scores. The launch follows TransUnion's recent extension of 99-cent VantageScore 4.0 mortgage pricing through 2028, with no charge when lenders pull it alongside a FICO Score. Under the new functionality, lenders can buy either a credit report alone or a credit report with the score of their choice, then request additional scores only when needed, and they do not incur the cost of a second credit report when adding scores if all eligibility and matching conditions are met. The offering is compatible with government-sponsored enterprises and Federal Housing Administration automated underwriting workflows, so lenders can implement it without changing existing selling guidelines or policies, and it is available for both soft- and hard-pull workflows and through mortgage resellers. Satyan Merchant, senior vice president and mortgage business leader at TransUnion, said the functionality lets lenders start with credit report insights and add score-based decisioning only when needed, providing insight earlier in the lending journey.

Impact on assets 2

Cybersecurity & Digital Trust▲
TransUnion
TRU
▲ PositiveTechnologyrelevance

TransUnion launched First Look Functionality for Mortgage, a new data-first workflow letting lenders review credit insights before purchasing scores.

Artificial Intelligence▼
Fair Isaac Corporation
FICO
▼ NegativeCompetitionrelevance

TransUnion's new workflow lets lenders buy a credit report alone or add scores only when needed, and its 99-cent VantageScore 4.0 pricing pressures FICO's score-purchase model.

Off-coverage companies 1

VantageScore Solutions, LLCi
Private▲ PositiveDemandrelevance

TransUnion extended 99-cent VantageScore 4.0 mortgage pricing through 2028 with no charge alongside a FICO Score, boosting adoption of VantageScore in mortgage lending.