Credit report fees are climbing fast—and borrowers may be paying more without realizing it. With costs projected to jump 40–50% in 2026, lenders are pushing Congress to rethink long-standing credit report requirements. Tim Lucas and Craig Berry break down what’s driving the surge, what changes are being proposed, and who stands to benefit—or lose.

In this episode you’ll learn:

• How much credit report costs are rising: Mortgage credit report fees are projected to increase 40–50% in 2026 after years of steady hikes.
• Why lenders must pull three reports: Mortgage rules require credit checks from Equifax, Experian, and TransUnion, even though each bureau often shows similar data.
• What the mortgage industry wants to change: Lenders are lobbying Congress to allow one or two credit reports instead of three to reduce application costs.
• Why risk increases for some borrowers: Consumers with lower scores or thin credit files may face higher error risk if fewer reports are used.
• The hidden cost of rejected applications: Lenders pay for credit reports even when loans don’t close, with rejection rates sometimes exceeding 20%.
• Why savings may not reach borrowers: Even if costs fall, lenders may not be required to pass those savings along to applicants.
• How credit scoring rules are already changing: The Federal Housing Finance Agency now allows lenders to choose between Classic FICO and VantageScore 4.0 for loans sold to Fannie Mae and Freddie Mac.
• The big question: Can costs be lowered without undermining fairness, accuracy, and borrower protections?

Read the full article: https://www.mortgageresearch.com/articles/are-credit-report-fees-too-high-mortgage-lenders-want-lawmakers-to-act/