Definitions for "Credit Report Fee"
This is charged to pay a credit service bureau to provide the lender with a report detailing a borrower's credit history. Instead of being charged for separately, this fee may also be part of a mortgage application fee.
A fee paid for a report of an individual's credit history, including open and fully repaid debt. The credit report is prepared by a credit bureau and used by a lender in determining a loan applicant's creditworthiness.
A charge assessed by the lender to obtain and review the borrower's credit report generated by one of the major credit agencies. This allows the lender to ascertain the amount of consumer debt, how frequently the debt in paid off, and whether there are any judgments or liens against the borrower.
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