TransUnion Launches First Look Functionality for Mortgage to Help Lenders Cut Origination Costs

TransUnion (NYSE: TRU) today launched TransUnion First Look Functionality for Mortgage, enabling mortgage lenders to 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. Combined, these offerings help lenders improve origination efficiency, reduce costs and align credit spending more closely with loan progression.

Traditional mortgage workflows often require lenders to purchase credit scores early, even when the underlying credit data often provides the necessary information to determine whether a loan should advance, follow a streamlined path, or be removed from consideration. Whether using a soft-pull solution such as TruVision® Early Access Soft Check or a traditional hard-pull workflow, lenders frequently need multiple scores throughout the origination process. Purchasing those scores before they are needed can lead to unnecessary fallout costs for lenders.

"Mortgage lenders face sustained pressure to control costs and operate more efficiently without compromising underwriting decisions. TransUnion First Look Functionality for Mortgage allows lenders to start with credit report insights and add additional score-based decisioning only when needed," said Satyan Merchant, senior vice president and mortgage business leader at TransUnion. "First Look Functionality provides insight earlier in the lending journey, directs resources toward the most promising opportunities and creates a more efficient path from application to closing."

With TransUnion First Look Functionality for Mortgage, lenders can evaluate early-stage risk by purchasing either a credit report alone or a credit report with the score of their choice, then request additional score(s) only when needed. Lenders do not incur the cost of a second credit report when adding additional score(s) when all eligibility and matching conditions are met. Additionally, TransUnion First Look Functionality for Mortgage is compatible with government-sponsored enterprises (GSEs) and the Federal Housing Administration (FHA) automated underwriting workflows, enabling seamless implementation without requiring changes to existing selling guidelines or policies.

Available for both soft- and hard-pull workflows and through mortgage resellers, lenders can capture efficiencies without redesigning existing processes. For instance, through Early Access Soft Check, lenders can assess borrower eligibility earlier by using the TransUnion credit report along with VantageScore 4.0, in addition to indicators on the credit report such as bankruptcy risk, streamlined-program eligibility and other underwriting considerations, before another score is needed.

Trended credit data and optional solutions like TruVision Alternative Credit Attributes and TruVision Income and Employment Verification can also provide additional insight in both soft and hard-pull workflows while helping reduce unnecessary credit expenses and maintain decision quality.

Learn more about TransUnion First Look Functionality for Mortgage.