Helping Lenders Protect Market Share with Mortgage Attrition Predictor™ from Equifax Canada

Product Release (May 28 2025) – Equifax Canada provides mortgage lenders with the solutions they need to proactively protect their business. In an environment of economic uncertainty, shifting regulations, fluctuating interest rates, mortgage customers are increasingly shopping for better rates and terms, leading to heightened competition among lenders. Mortgage Attrition Predictor™ helps empower lenders to proactively anticipate customer switching behaviour so they can implement more effective retention strategies.

Powered by a proprietary machine learning model and comprehensive Equifax data, Mortgage Attrition Predictor™ generates a score that predicts the probability of customers switching mortgage lenders within the next 12 months. Mortgage Attrition Predictor enables lenders to identify customers within their existing portfolio who may be thinking about switching lenders. “This is critical information at a critical time in ‘the great mortgage renewal’, with over a million Canadians needing to renew their mortgages in 2025. Homeowners today have fewer barriers to switching mortgage providers which can mean that traditional renewal strategies are no longer enough to protect your business,” explains Bill Johnston, SVP and Chief Product Officer at Equifax Canada. “Getting insight into which customers are likely to switch, and accessing robust analytics and actionable Equifax solutions means you can spend more time developing targeted engagement strategies to retain these valuable customers. We make it easier to drive better outcomes,“ said Johnston. 

Key benefits of Mortgage Attrition Predictor include:

• Identifying customers who may be looking to switch lenders: Receiving a score indicating the likelihood of each customer switching, well in advance of renewal.

• Strengthening customer engagement: Implementing strategies to connect with customers quickly and offer additional mortgage-related solutions.

• Maximizing efforts: Targeting budget and campaign resources to maximize retention and engagement efforts.

• Tracking portfolio health: Actively monitoring and benchmarking mortgage portfolios and customer segments against the industry.

With monthly data refreshes, lenders can capture changes in consumer credit and payment activities, ensuring the most up-to-date insights. “Mortgage Attrition Predictor is a critical tool for mortgage retention, enabling lenders to gain early insight into customers, enable active portfolio management, and deepen customer engagement to retain business,“ said Johnston.

Learn more about how Mortgage Attrition Predictor™ can help protect your mortgage business and boost customer retention.