While the mortgage industry lobbies to reduce credit report costs, the idea of allowing borrowers to use the same file across multiple lenders has slowly emerged.

In this consumer-controlled portable credit report model, borrowers would authorize the use of a single credit report during their mortgage search across different lenders. The concept mirrors tenant screening reports — a reusable, renter-obtained background check shared with multiple landlords, often within a 30-day period.

Mortgage industry proponents say the change would reduce the need for lenders to pull credit reports that ultimately fail to result in closed loan originations while also details ⇒

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