MBA says tri-merge credit checks cost lenders up to $100 per loan, doubling since pre-COVID, as industry pushes for a cheaper, single-report model
Company marks record credit scoring usage spike, with 55% overall increase in 2024
FICO is ‘the only real competitor’ in credit scoring, U.S. Sen. Hawley argues, and antitrust scrutiny ‘is warranted’
The CFPB filed a lawsuit against fellow credit-giant Experian two weeks ago alleging the same
The alleged conduct results in errors remaining on consumer reports, and errors being reinserted even after resolution
The CFPB says the rule will produce 22,000 more mortgages each year, but some disagree with its premise
Despite industry-wide hesitancy, the leading loan trading platform plans to complete integration by mid-2025
VantageScore provides the final snapshot of consumer credit health before the U.S. elections
Panelists at MBA's annual event agree GSEs have neglected to facilitate mandatory adoption of new credit scoring models, set to take effect in the fourth quarter of 2025.
ICE Credit Bureau Management automates credit disputes, helping servicers meet 30-day reporting deadlines.