Putting out this daily commentary is like being in the army: I usually do more by 6AM than many people do during much of the day. The commentary is a little early this morning since I received an email on Thanksgiving from IsabelleDuvall@opale-voyages.fr that my U.S. Government social security account password had expired and for me to send her my social security number and a new password. I wanted to take care of sending Isabelle the information first thing this morning, and am sure that everything will be just fine. It’s not fine in the credit world any more than the tale above is. The industry was given an early Christmas “present” by Fair Isaac and the three credit bureaus, although this is not “official”: the vast majority of the mortgage lending industry will most likely incur a massive mortgage credit report price increase for 2023. With per-loan costs over $11,000 already, this sure won’t help. For better news, today’s podcast is available here and this week’s is sponsored by Richey May, a recognized leader in providing specialized advisory, audit, tax, technology, and other services in the mortgage industry and in banking. Warning: Credit Costs Will Escalate The cost of credit is going up. Lenders nationwide are trying for cost savings wins or success in negotiating vendor contracts, including those related to credit. In the credit world, can lenders save money by analyzing the number of pulls per file, or reminding staff about hard versus soft pulls, or dealing with duplicate logins? But the big news is out there: