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Mortgage group asks regulators to stop FICO’s price hikes of up to 400%

Credit reports are getting a lot pricier, and some mortgage lenders are none too pleased about it.

In a letter dated Nov. 22, the National Consumer Reporting Agency told its members that the “vast majority” of mortgage lenders would see price increases between 10% and 400% from Fair Isaac Corp. (FICO).

The letter, signed by NCRA Executive Director Terry Clemans, said there would be “a wholesale price increase of less than 10% for the top tier of approximately 46 lenders, about 200% for approximately 6 lenders in the middle tier, and more than 400% for all other details ⇒

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