TransUnion (NYSE: TRU) announced it will charge 99 cents per mortgage origination score for VantageScore 4.0, a reduction from its previous pricing structure. The Chicago-based credit reporting company said the new pricing could generate more than $900 million in potential savings for lenders and consumers, based on findings from a recent study.

The pricing change supports the Federal Housing Finance Agency's efforts to increase score competition in the mortgage market. TransUnion will continue offering VantageScore 4.0 at no cost to mortgage customers who purchase a FICO score from the company.

"TransUnion is committed to lowering the cost of mortgage origination for every American looking to buy or refinance a home," said Satyan Merchant, senior vice president and mortgage business leader at TransUnion.

VantageScore 4.0 incorporates trended credit data insights along with rental and utility payment information. TransUnion provides 30 months of trended credit data, which the company says gives lenders additional information about consumer credit behavior patterns.

The company will provide historical data and analytical support at no charge to help lenders evaluate and implement VantageScore 4.0 through its TruIQ Data Enrichment platforms. TransUnion said it continues working with the FHFA and Government Sponsored Enterprises as they complete implementation milestones for VantageScore 4.0 in mortgage lending.

The announcement comes as the mortgage industry prepares for the peak homebuying season. Information in this article is based on a company press release.