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 The Mortgage Bankers Association (MBA) is renewing ...

NCRA President discusses potentially harmful impact on younger borrowers and consumers of color. Better Qualified CEO Paul Oster encourages the need for more competition, claiming the credit bureaus ...

Housing loans account for as much as a third of many Americans’ budgets, making them the single largest expense for almost every borrower. Banks and other lenders want to make certain that a borrower ...

The financial world rarely changes overnight. Yet there are moments when a single regulatory shift forces bankers, investors, and accountants to rethink the foundations of their work. When IFRS 9 came ...

Credit has long been the passport to economic opportunity. Yet over 26 million Americans have no credit history, limiting their access to mainstream financial products and forcing reliance on costly ...

Affirm and FICO took the first steps to incorporating short-term buy now/pay later loans into borrowers' credit scores earlier this year, but it will take time before lenders start incorporating them ...

Credit reporting issues have consistently ranked among the top consumer complaints tracked by the Federal Trade Commission’s Consumer Sentinel Network. According to the FTC’s 2024 data book, reports ...

Credit scoring models are evolving to account for the growing use of buy now, pay later (BNPL) services. Affirm began reporting customer repayment data to credit bureaus earlier this year, but it is a ...

No two credit scores are the same, even if they belong to the same person. That's because the financial industry uses different scoring models for different purposes. FICO and VantageScore are most ...