FICO's new royalty of $4.95 per score will keep its share of mortgage closing costs at around two-tenths of one percent, reflecting its modest contribution.
The recent increase follows three consecutive years of FICO score royalties rising, from $0.50 to $0.60 per score in 2018 to a fixed rate of $3.50 in 2024.
Republicans expected FICO to increase fees post-election, projecting them at $5; however, the actual adjustment fell short of those expectations.
FICO's royalties are modest compared to the overall mortgage cost, remaining about 15% of the tri-merge report bundle and two-tenths of one percent of closing costs.
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