FICO Fees Up 1900%?!?
Credit report fees have skyrocketed—from around $0.50 to a proposed $10 per bureau in recent years! Why is this happening, and what does it mean for lenders and borrowers? In this episode of Today in Mortgages, we break down:
- How FICO royalties went from pennies to dollars
- Why credit report costs have surged nearly 500% in five years
- The role of trigger leads and lost revenue for bureaus
- VantageScore vs. FICO: Will competition help?
- What lenders are doing to manage these rising costs
Plus, we’ve got a special invite for loan officers: take our industry survey at https://todayinmortgages.com and get a free benchmark report to see how you stack up in comp, tech, and support.
Today in mortgages is produced by Network Funding, LP, which is an equal housing lender, NMLS# 2297.
The content of this program is meant to be a commentary on mortgage and real estate news and any discussion of rates and or products should not be taken as individual mortgage or home buying advice or pricing estimates, and any commentary on this show is should not be considered a promise to make a loan. All applicants for a loan must qualify and you should consult a professional regarding your individual loan scenarios for your financial situation. Visit our website at nflp.com/licenses for all state licensing and other legal information.
You must be logged in to post a comment.