Pennymac TPO waives $99 credit report fee for December POWER+ loans

"The move comes as credit report costs are expected to rise by about 50% in 2026, marking the fourth consecutive year of increases, according to resellers who spoke with HousingWire. The rising costs are tied to reports that originate with FICO data and flow through the three major credit bureaus Experian, Equifax and TransUnion. Pennymac said the fee waiver applies only to credit reports issued by the lender on new loans with application dates between Dec. 1 and Dec. 31."

"To qualify, loans must be submitted to Pennymac by Jan. 15. Rapid rescore credit report requests are excluded. The loans will still be disclosed with reasonable and customary credit report fees, the company added. Pennymac ranked as the second-largest U.S. mortgage lender from January through March, with $101 billion in production, up nearly 28% year over year, according to Inside Mortgage Finance."

Credit report costs are expected to rise about 50% in 2026, marking a fourth consecutive year of increases tied to reports that use FICO data and flow through Experian, Equifax and TransUnion. Pennymac will waive credit report fees only for credit reports issued by the lender on new loans with application dates between Dec. 1 and Dec. 31, provided loans are submitted by Jan. 15; rapid rescore credit report requests are excluded. Loans will still be disclosed with reasonable and customary credit report fees. Pennymac ranked as the second-largest U.S. mortgage lender early in the year and seeks to grow broker-direct market share, while lenders adopt fee strategies to manage rising costs.

Read at www.housingwire.com