RE-ISSUE FEES FOR CREDIT REPORTS
December 27, 2006
Kirkland, Washington

Equifax, Experian and TransUnion have announced their intention to charge a substantial fee for every re-issued credit file. This means that every time an existing credit file is forwarded (electronically or manually) to a third party (lender, investor, FannieMae, FreddieMac etc.) re-issue charges will be incurred.

WHAT DOES THIS MEAN TO OUR CUSTOMERS? Well, right now, we are waiting to see. There is no concrete information regarding what those charges from the bureaus would be, however, the top end of the re-issue charge could be synonymous to ordering a new credit report.

At ARC we will continue to monitor this issue and will communicate to you as soon as we know what impact their will be to you – if any – resulting from Equifax, Experian and TransUnion decision on Re-Issue and Secondary Use.

Additional Resources:

• NAMB (National Association of Mortgage Brokers) Response.
• NCRA (National Credit Reporting Association).
• Article from Kenneth R. Harney at the Washington Post.
• Remarks made to the U.S. Congress regarding this topic.

ABOUT ARC American Reporting Company is a privately held company based in Kirkland, Washington that offers the lending community intelligent solutions, reliable products and exceptional service. Visit www.arcreports.com or call 1-800-992-1058 for more information about ARC products and services.