Mortgage banker group renews calls for tri-merge alternative

The Mortgage Bankers Association announced Wednesday that its Residential Board of Governors has passed a resolution calling for two influential government-sponsored enterprises to end their requirements for tri-merged credit reports.

The move follows FHFA’s decision to allow score competition without changing tri-merge rules, and MBA’s earlier plan to explore the viability of using a single credit report.

The latest MBA announcement in an online video by President and CEO Bob Broeksmit reaffirms that the group, which has been working to address industry concerns about the rising costs of credit borrower credit checks, won’t be content with score reform alone.

“As we are doing with credit scores, MBA is collecting the data and meeting with all the important stakeholders to find a way…