"The scale of the increases reflects limited competition in the mortgage credit score market, where lenders are required to use approved scoring models and have few alternatives."
"Rising credit score fees disproportionately affect younger and first-time homebuyers, who may take longer to qualify and complete a purchase."
"CHLA expects additional price increases later in 2026, citing the company's financial profile and prior pricing trends."
"If they don't raise mortgage credit score prices again this fall, the stock drops like a stone. And no CEO wants that."
Total credit report costs for closing a conventional loan are expected to increase from about $50 in 2022 to approximately $540 by 2026. By early 2024, costs had already risen to between $150 and $250. FICO's base price for a tri-merge credit report has surged from $1.80 in late 2022 to $30 in 2026, reflecting a more than 1,500% increase. These price hikes are attributed to limited competition in the mortgage credit score market, disproportionately affecting younger and first-time homebuyers.
Read at www.housingwire.com
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