The cost of verifying the identity of credit and mortgage applicants is going up, way up.

Starting Oct. 1, the Social Security Administration plans to raise the fee it charges to check the identity of a mortgage or credit applicant from 56 cents to $5 for each verification.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.