Equifax introduced Income Qualify, a new service that delivers verified income and employment data from its Work Number database to mortgage lenders during the pre‑qualification and pre‑approval stages.
Income Qualify provides name/SSN, employer name, tenure, and prior‑year total income, and is priced at a discount to standard Work Number offerings. In addition, Equifax is offering a free VantageScore 4.0 mortgage credit score with each FICO score purchase for two years; the VantageScore is priced at $4.50, more than 50% below FICO’s projected 2026 price.
The launch deepens Equifax’s mortgage‑verification portfolio and responds to growing demand for real‑time employment data. The free VantageScore promotion aligns with the industry shift toward VantageScore 4.0, which the Federal Housing Finance Agency has begun accepting for loans sold to Fannie Mae and Freddie Mac.
Income Qualify competes with other verification providers such as Experian’s Work Number and TransUnion’s Employment Verification. By bundling data with its credit report and offering a discounted price, Equifax aims to capture a larger share of the mortgage verification market.
Joel Rickman, General Manager of U.S. Mortgage and Verification Services, said the service will help lenders act faster, support affordability, and move borrowers forward with more confidence.
The earlier claim that the product launch was tied to the OB3 legislation was incorrect; OB3 is a tax reform act and does not directly influence Equifax’s government contracts for this service.
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