Why Credit Report Costs Are Rising and What That Means for Your Mortgage
When you apply for a mortgage, one of the first steps a lender takes is pulling your credit report.
Your credit history helps determine your eligibility, your interest rate, and the loan options available to you. But what many borrowers do not realize is that lenders do not create these reports themselves. They must purchase them from third-party providers.
In recent years, the cost of obtaining credit reports has steadily increased, and credit report prices for mortgage lenders are expected to rise by as much as 50 percent in 2026. This marks the fourth consecutive year of higher costs, despite ongoing regulatory efforts aimed at increasing competition and affordability in the credit reporting space.
What Is Driving These Increases?
Rumors of major price hikes began circulating toward the end of 2025. Now that 2026 is underway, many mortgage brokers and lenders are seeing those increases firsthand.
Several factors are contributing to rising credit report costs:
- The rollout of new credit scoring models, including changes from FICO
- The trigger leads ban taking effect in March
- Expectations around the broader acceptance of VantageScore 4.0
- Pricing changes from the three major credit bureaus: Experian, Equifax, and TransUnion
Most mortgage credit reports rely on FICO-based data that comes from the three major bureaus. When these organizations adjust their pricing, those increases are passed down the line. Lenders must absorb or reflect those costs, even though they do not control them.
In short, when credit report fees go up, it is because the source of the data has become more expensive, not because lenders are adding new charges of their own.
The goal is never to add unnecessary expenses. The goal is to remain compliant, accurate, and transparent while continuing to offer responsible lending solutions.
Industry Leaders Are Pushing for Change
Many organizations are advocating for a more affordable and competitive credit reporting system.
The Mortgage Bankers Association (MBA) has called on the Federal Housing Finance Agency (FHFA) to reduce the number of required credit scores to just one for borrowers with scores of 700 or higher, which could lower costs for well-qualified applicants.
Kimber White, president of the National Association of Mortgage Brokers (NAMB), has suggested that all credit activity be reported to all three bureaus, which may help improve consistency and fairness.
Brendan McKay, chief advocacy officer and co-founder of the Broker Action Coalition (BAC), has proposed a portable credit report system. This would allow consumers to use the same report when shopping with multiple lenders, instead of paying for a new one each time.
Each of these ideas aim to reduce duplication, improve transparency, and put more control back into the hands of consumers, but change has yet to be implemented.
What This Means for Your Mortgage
If you notice higher credit-related fees during the mortgage process, it is not because your lender decided to raise prices arbitrarily. These changes reflect broader shifts in how credit data is priced and distributed nationwide.
Your lender’s role is to guide you through these changes, explain what each cost represents, and make sure you have the information you need to make confident decisions. Transparency matters, especially while the industry is evolving.
If you ever have questions about a fee or charge, do not hesitate to ask. A good lender will always be happy to explain what you are paying for and why.
