FICO Fees Up 1900%?!?

Credit report fees have skyrocketed—from around $0.50 to a proposed $10 per bureau in recent years! Why is this happening, and what does it mean for lenders and borrowers? In this episode of Today in Mortgages, we break down:How FICO royalties went from pennies to dollarsWhy credit report costs have surged nearly 500% in five yearsThe role of trigger leads and lost revenue for bureausVantageScore vs. FICO: Will competition help?What lenders are doing to manage these rising costsLOAN OFFICERS – Looking to GROW your business?Find out how we are making our best producers even better and how you can DO MORE YOU inside the best Network in mortgages by visiting https://you.nflp.comFREE INDUSTRY INSIGHTS REPORT:Take our Loan Officer Survey to get your FREE industry report! Benchmark yourself against peers, understand trends, and make better career decisions at SurveyLegal Disclosure:Today in Mortgages is produced by Network Funding, LP, an equal housing lender, NMLS #2297. The content of this program is commentary on mortgage and real estate news and should not be taken as individual mortgage advice. All applicants must qualify. Visit Licenses - Network Funding  for licensing info.Hashtags:#MortgageNews #CreditReportFees #LoanOfficerLife #HomeBuyingTips #TodayInMortgages_Today in Mortgages is produced by Network Funding, LP, which is an equal housing lender, NMLS# 2297.*The content of this program is meant to be a commentary on mortgage and real estate news and any discussion of rates and/or products should not be taken as individual mortgage or home buying advice or pricing estimates. Any commentary on this show should not be considered a promise to make a loan. All applicants for a loan must qualify, and you should consult a professional regarding your individual loan scenarios for your financial situation.Visit our website at https://nflp.com/licenses for all state licensing and other legal information.See more at TodayInMortgages.comWant to get expert coaching everyday and have the power of the best Network in Mortgages behind your production business? Learn more here. Learn more about Network Funding on our parent site. Today in mortgages is produced by Network Funding, LP, which is an equal housing lender, NMLS# 2297. Corporate office located at 10370 Richmond Ave. Suite 900, Houston, TX 77042. The content of this program is meant to be a commentary on mortgage and real estate news and any discussion of rates and or products should not be taken as individual mortgage or home buying advice or pricing estimates, and any commentary on this show is should not be considered a promise to make a loan. All applicants for a loan must qualify and you should consult a professional regarding your individual loan scenarios for your financial situation. Visit our website at nflp.com/licenses for all state licensing and other legal information.