Experian has updated its Power Profile Plus for Mortgage solution, enabling lenders to conduct unlimited soft credit inquiries without additional charges during the mortgage application process. This allows for earlier borrower assessment using full credit profiles and VantageScore 4.0, with an option to transition to a hard inquiry later.
The enhancements to Experian's Power Profile Plus for Mortgage aim to reduce early-stage costs for lenders and provide them with more decision-ready information, potentially accelerating the mortgage application process and encouraging the adoption of newer credit scoring models.
Experian announced on Monday that it has enhanced its Power Profile Plus for Mortgage solution, allowing lenders to request additional soft credit inquiries without incurring additional credit-profile charges during the mortgage application and qualification process. The updated solution provides lenders with a full Experian credit profile and VantageScore 4.0 through a soft inquiry, allowing them to assess borrowers without initially requiring a hard credit inquiry. Lenders can now request unlimited eligible follow-up soft inquiries during the application and qualification period and add scores at their discretion without paying another Experian credit-profile charge.
“As the mortgage industry expands its use of modern credit scores, our focus is on making that transition cost-effective and easy to implement,” Michele Bodda, group president of Experian Housing, Verification Solutions and Employer Services, said in a statement. The enhancements are intended to give lenders decision-ready information while lowering early-stage costs, Bodda said.
Under the updated workflow, lenders can request additional FICO scores as needed, although applicable score charges still apply. When borrowers are ready to proceed, lenders can transition from a soft inquiry to a hard inquiry, with standard hard-pull credit-report and score pricing in effect.
The announcement follows the Federal Housing Finance Agency’s expansion of VantageScore 4.0 availability to all approved Fannie Mae and Freddie Mac lenders. Experian said the enhancements are designed to help lenders evaluate borrowers earlier in the mortgage process while managing costs as the industry adopts newer scoring models.
Consumer interest in alternative credit data also could influence adoption. Experian research found that one-third of consumers would actively seek a new lender if they learned their current lender relied on legacy credit-scoring models that do not incorporate rent and utility payments. Additionally, 52% said they would be more interested in pursuing homeownership if lenders considered additional positive payment history when evaluating mortgage applications. Power Profile Plus allows lenders to assess borrowers using their full Experian credit profile through a soft inquiry, potentially helping consumers explore mortgage eligibility and available options before moving to a hard inquiry.
The enhancements are part of Experian’s broader strategy to give lenders more flexibility in mortgage credit scoring. VantageScore 4.0 is available as a standalone mortgage origination score for 99 cents. Through Experian’s Score Choice Bundle, lenders can also access VantageScore 4.0 and FICO Score 2 in a single transaction, with VantageScore 4.0 available at no cost when a FICO score is obtained in 2026.
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