Fico Tri-merge Price Jumped 1,500% In Four Years, Chla Finds

The cost of credit reports used in mortgage lending has climbed sharply in recent years, with lenders now paying an average of more than $500 per loan, according to a new analysis from the Community Home Lenders of America (CHLA).

The report, released Tuesday as an update to the group’s 2024 white paper on mortgage credit score pricing, attributes the increase to repeated price hikes by Fair Isaac Corp., the company behind FICO credit scores.

Based on a survey of the association’s independent mortgage bank members, the group said total credit report costs associated with closing a conventional loan have risen from about $50 in 2022 to roughly $540 in 2026. Costs had already climbed to between $150 and $250 by early 2024.

At the same time, the base price charged by FICO for a tri-merge credit report has increased from $1.80 in late 2022 to $30 in 2026 — a more than 1,500% increase over four years, according to the report.

“CHLA is releasing this analysis of the latest FICO credit score price increases, with a call for action to fix a monopoly that, if unchecked, will continue to extract more and more resources from homebuyers,” Rob Zimmer, CHLA’s director of external affairs, said in a statement.

The group said these foundational price increases have outpaced the additional markups applied by credit bureaus and resellers, although these firms have also raised prices.

In comments sent to HousingWire, a FICO spokesperson said that any amounts charged beyond either FICO’s $4.95 per-score royalty and a funded loan fee, or beyond the $10 per-score wholesale model, is collected by the credit bureaus or other parties but not by FICO.

The spokesperson went on to say that the FICO Score “is just one component of a broader tri-merge credit report bundled product,” and that questions about overall report costs or tri-merge costs should be directed to Experian, Equifax or TransUnion. They clarified that under the $10 per-score model, FICO would contribute a maximum of $30 to a tri-merge bundle.

“If total tri-merge costs have increased to $540, greater transparency is needed across the industry regarding where the remaining charges — meaning $510 in this example — are being allocated among the three nationwide credit bureaus, and not FICO,” the spokesperson wrote.

In CHLA’s analysis, the trade group said the scale of the increases reflects limited competition in the mortgage credit score market, where lenders are required to use approved scoring models and have few alternatives.

The report also said credit score costs can multiply during the mortgage process because lenders often must pull reports multiple times. Rising credit score fees disproportionately affect younger and first-time homebuyers, who may take longer to qualify and complete a purchase.

CHLA said it expects additional price increases later in 2026, citing the company’s financial profile and prior pricing trends. It also pointed to comments from FICO’s CEO suggesting mortgage credit scores may still be undervalued.

“I’d like to be wrong here on the 2026 price hikes to come, but the die is pretty well cast. If they don’t raise mortgage credit score prices again this fall, the stock drops like a stone. And no CEO wants that,” Zimmer told HousingWire.

CHLA’s report argues that the current system lacks true price competition since lenders must use approved credit scores and cannot easily substitute alternatives. It also said widely used “classic” FICO models are older than newer scoring systems that have not yet been fully adopted in the mortgage market.

Alternative models, including those developed by VantageScore and newer FICO versions, are undergoing or awaiting further testing and approval for broader use in conventional lending.

CHLA urged regulators to accelerate the adoption of competing credit scoring models to increase competition and potentially reduce borrowers’ costs.

The group also urged Fannie Mae and Freddie Mac to “be directed to use their massive data and analytics to each establish their own business subsidiaries to evaluate the creditworthiness of borrowers.”