A study by Andrew Davidson & Co. found meaningful credit score discrepancies among the three major bureaus — a key data point for those arguing in favor of maintaining the tri-merge standard rather than shifting to a bi-merge or single-report model. According to the paper, released Friday, 35% of the 245 million scored consumers in […]
Study reveals bureau score gaps, fueling tri-merge credit debate Read More »
Mortgage Bankers Association (MBA) President and CEO Bob Broeksmit took the stage at the trade group’s IMB26 Conference in Florida to say that its members and he himself have “just been gaslit by the trade association that represents the credit bureaus.” The MBA has proposed that lenders submit a single-bureau credit pull for loans sold
MBA’s Broeksmit says credit bureau trade group “gaslit” mortgage industry Read More »
In the mortgage industry, the initial reaction to President Donald Trump’s proposal to cap credit card interest rates at 10% has been concern that the policy could ultimately backfire on would-be homebuyers. The cap might seem beneficial on paper, but the long-term consequences, including reduced credit availability, could outweigh the benefits, mortgage professionals told HousingWire.
Mortgage pros warn credit card rate cap could backfire on homebuyers Read More »
At a time when lack of affordability is a major issue for prospective homebuyers, eliminating minimum credit score requirements in GSE automated underwriting may sound like a great idea to expand credit access. However, there’s a reason the GSEs had such requirements in place for decades. They acted as an important override against errors in the analytical
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Kevin Bell, a mortgage broker at Oakmont Lending, had to adjust to a different approach to handling credit report costs when he joined the company from a retail lender earlier this year. Oakmont charges borrowers upfront, while Stockton Mortgage Corp., where Bell worked for about three years as a branch manager, follows the industry standard
Rising credit report costs may push mortgage industry toward upfront fees Read More »
Credit report prices for mortgage lenders will increase by up to 50% in 2026, despite regulatory efforts to boost competition and recent pricing shifts by some players, resellers told HousingWire. It will mark the fourth consecutive year of higher costs. The increase is tied to credit reports that originate with FICO information and flow through
Mortgage credit report costs could jump 50% in 2026 Read More »
Credit bureau TransUnion has followed its peers in slashing prices for mortgage lenders that purchase VantageScore 4.0, responding to Fair Isaac Corp. (FICO)’s newly implemented pricing model. Starting in 2026, TransUnion will offer VantageScore 4.0 for $4 per score and provide it at no cost to lenders that purchase a FICO score through the end
TransUnion cuts VantageScore 4.0 pricing for mortgage lenders Read More »
Equifax announced changes to its pricing strategy following Fair Isaac Corp. (FICO)’s rollout of a new program that allows tri-merge resellers to calculate and distribute its scores directly to mortgage lenders. The credit bureau said it will offer VantageScore 4.0 – a direct competitor to FICO — at $4.50 per score through the end of
Equifax slashes VantageScore 4.0 pricing as FICO launches new reseller model Read More »
Fair Isaac Corp.’s (FICO) decision to let resellers calculate and distribute its scores directly to lenders drew a mixed response from the mortgage industry — viewed by some as a step toward more competition, but by others as a potential driver of higher credit score costs in the short term. On Wednesday, FICO unveiled the
FICO’s new program draws mixed reviews from mortgage market Read More »
Fair Isaac Corp. (FICO) has launched a program allowing tri-merge resellers to calculate and distribute its scores directly to mortgage companies, effectively bypassing the three nationwide credit bureaus: Equifax, TransUnion and Experian. The move comes amid intensified competition with VantageScore, owned by the three bureaus, following the Federal Housing Finance Agency’s (FHFA) decision to let
FICO bypasses credit bureaus with new program for mortgage lenders Read More »