Equifax

“In 2025, FICO mortgage represented only about 3% of our total revenue. In 2026, that number will increase to about 6% or double.”

FICO's mortgage-score price increases (to $10/score) doubled its pass-through share of Equifax revenue; the industry's potential shift to cheaper VantageScore is a threat to FICO's mortgage royalties.

“FICO has taken pricing for mortgage credit scores at a CAGR of over 100% per year over the last 4 years, including a 2x increase to $10 per score in 2026 even after losing their 30-year monopoly position with the federally guaranteed mortgages in July.”

Equifax frames FICO's aggressive mortgage-score price hikes and lost 30-year monopoly as the catalyst driving customers toward its lower-priced VantageScore alternative.

“Recently, there's been some headlines and announcement that JPMorgan would be rolling out fees for API data pulls. Was curious if this would impact Equifax Inc. directly in the extent to which other banks were to follow suit?”

An analyst flags JPMorgan's move to charge fees for API data pulls as a potential cost headwind if other banks (a data source for Equifax) follow suit; Equifax said it doesn't expect a direct impact.

“You saw this morning, you know, General Motors announced Stellantis, the Jeep manufacturer having huge impacts you know, from tariffs on a financial standpoint.”

Equifax's CEO cites Stellantis (Jeep's parent) alongside GM as an example of automakers absorbing large tariff-driven financial hits, illustrating the corporate caution weighing on hiring and Equifax's talent business.

“You saw this morning, you know, General Motors announced Stellantis, the Jeep manufacturer having huge impacts you know, from tariffs on a financial standpoint.”

Equifax's CEO cites GM's tariff-related financial hit as evidence of the corporate uncertainty depressing hiring, which weighs on Equifax's talent/background-screening business.

“we're adding our new solutions, an interconnect that Ignite, identity products down there that we think will enhance our competitiveness versus Experian SIRASA.”

In Brazil, Equifax's Boa Vista business is layering on Ignite analytics, interconnect, and identity products to compete more aggressively against Experian's local Serasa credit-bureau business.

“I think, you know, with regards to FICO pricing, you should call FICO, you know, or join their earnings call, which I think is next week.”

Equifax passes through FICO's credit-score pricing in its mortgage credit files; FICO's own pricing decisions, which are opaque to Equifax, have been a meaningful driver of USIS mortgage revenue growth in 2024-2025.

“Was hoping you could talk about VantageScore and what you're expecting in terms of price competition in the mortgage market are you expecting VantageScore to be priced at a level that could lead to share gains versus FICO?”

An analyst asks whether Equifax's VantageScore (co-owned with the other credit bureaus) could gain mortgage-market share from FICO through pricing, given the FHFA's recent move to preserve tri-merge credit reporting.

“Checker is a customer and we interact with them and have a lot of respect for them.”

Equifax noted that Checkr, the acquirer of smaller competitor Truework, is also an Equifax customer with a respected working relationship.