Bob Broeksmit says tri-merge ‘won’t be around for long’

The Mortgage Bankers Association (MBA) is shifting its push from score providers to the credit bureaus, signaling a potential end to required tri-merge reports. “Credit scores matter, but as we all know, credit reports matter even more,” MBA president and CEO Bob Broeksmit said Monday at the group’s 2026 Annual Convention and Expo in Chicago. Broeksmit has been one of the most visible advocates for a single-pull credit report, at least for lower-risk loans, as lenders face tighter margins and higher compliance costs. Today, most agency loans require a tri-merge report that pulls data and scores from all three major bureaus. Federal Housing Finance Agency (FHFA) Director Bill Pulte recently said on social media that a bi-merge option — requiring reports from two bureaus instead of three — is under consideration, echoing a move that was announced during the Biden administration. He also said the FHFA is studying a single-pull option. Pulte canceled his in-person appearance Monday morning at MBA Annual, where many in the industry expected him to announce the bi-merge option. He is now scheduled to speak virtually on Tuesday.The FHFA recently announced that all lenders can submit loans...