EFX
#Thank you.
Let me see if I can deconstruct what your view is, which is a good view, and say that it is in the teens.
You also have, don't forget, two months of Veda benefit in 2017 you didn't have in 2016.
So that's part of the contributor.
Then the core of what you're saying is true.
You have very high, once again, very high organic non-mortgage, non-ACA growth, and there's no magic there.
<UNK>, that is the same thing we've been doing since [PGI] and EGI.
It's really is broad-based.
If I went through, and I think I did, I can't remember, as an example I think I gave EWS, the number of verticals that are growing double digit.
I can do the same thing in International.
I can pick different countries, and different verticals in different countries.
I can take different verticals in the USIS and show you how they're growing.
It's so broad-based.
It's not one vertical, it's not two verticals.
It's not one product or two product.
It's a combination of all those things coming together.
As <UNK> mentioned in his script, right, you're seeing continued very strong double-digit growth out of EWS, and then out of International, and GCS growing above their long-term model.
So the areas of growth are really concentrated there.
USIS, still performing well relative to mortgage, but the growth is concentrated in those businesses that <UNK> talked about.
Yes, traditionally that's been the case that they've pre-screen, the precursor to underwriting, which that puts you online stuff.
So we're not explicitly baked that into any guidance, <UNK>.
We expect, though, if that is in our pre-screen that will eventually lead to more lending, which is good for us.
Yes, good point.
So the answer to your first question is ACA was not directly counted in that 3%.
The 3% is the mortgage headwind alone.
Again, we're saying (inaudible) what you do, you can do the math, was the growth driver in the past goes from being a growth driver to flat.
That is a headwind for us.
The rest has got offset, and we got offset.
Think about the guidance we gave you as being offset by things we're already doing.
So it's a combination of NPI and EGI.
Thank you.
One of the things, maybe before ---+ hopefully you guys are still on the phone, is that, <UNK>, if I could.
Two points have came up in a few (inaudible) we would address.
One was around the OIS revenue when compared it to others up 4% versus some of you expected that to be larger.
Point of clarification, where it estimated that some of your (inaudible), that is burdened by 2 points, was it 2 points.
3 points of headwind from what we call our direct-to-consumer business.
Remember, when we created GCS, we took most of our consumer and gave it to GCS.
We left behind some reports marked to TU and to Experian.
That has been declining.
That declined even faster in the fourth quarter.
You've heard Experian announced they had a big breach last year in the fourth quarter; that didn't repeat.
So that's 3 points of headwind this year versus [less headwind] in the first three quarters of the year.
The other question that was raised is the sequential margin change in EWS.
I think I'll just quickly talk about that.
That's driven by really two things.
You've got some seasonality in a couple products in the mix.
We're still (inaudible) in the high margin offerings in the [USIS] that you may have seen in the third quarter.
Secondly, as I mentioned and <UNK> mentioned, we're investing nicely in standing up the International work number.
Those are two small points that are sequentially working the margin (inaudible) to explain that.
That business is a still well on its way to get that 50% to or mid-50%s margin.
I just wanted to clarify that point.
<UNK>, you want sing a song or something like that (laughter) farewell.
