Unlocking Data Insights to Achieve the Dream of Home Ownership
Home ownership is a key factor in establishing wealth for an individual and their family - and it can last for generations. For the 20% of the 191 million U.S. consumers without a traditional credit file, achieving that dream can be a significant challenge.
Leveraging non-traditional consumer insights - like telecommunications (telco), pay TV and utility payments - can help create greater opportunity for home ownership.
These alternative data insights provide anonymized information to streamline the mortgage application process as consumers seek approval for a home loan. This expanded data cannot be used by lenders to deny applications for credit or other services. These attributes, which are based on consumer’s aggregated history with telco, pay TV and utilities, help Equifax provide new insights that assist with saving time, resources and overall automation for both consumers and lenders.
Equifax is innovating to uncover important new ways to connect consumers to financial opportunity. It’s part of our commitment to driving a more inclusive financial ecosystem and help people live their financial best.
To learn more about innovative mortgage solutions from Equifax, visit https://www.equifax.com/business/mortgage/.
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