The Case for Tri-Merge: How a Single Credit Report Raises Risk and Cost

In mortgage lending, more data means better decisions.

A robust credit picture helps lenders assess risk accurately, expand access to credit and protect long-term market stability. That’s why the tri-merge credit report — which draws from all three national credit bureaus — has been the gold standard for decades.

To evaluate the potential impact of reducing the number of credit reports used in underwriting, TransUnion^® ran a simulation to assess the impact of switching from a tri-merge credit report to a single bureau model.

The findings were stark:

• 4.4 million consumers could lose access to agency-backed mortgages
• Consumers could pay $6.5 billion more in interest due to credit tier downgrades
• 300,000 consumers could be approved for mortgages they shouldn’t qualify for
• Investors could see $9 billion in lost interest income from mispriced risk

These shifts aren’t just numbers — they represent real people, real homes and real financial consequences. They also reaffirm why tri-merge model remains the most complete, consistent and fair way to assess borrower creditworthiness — and protect the long-term health of the mortgage market.

View the analysis to explore the full findings and implications.