Open Banking Fees and What They Mean for Mortgage Verification

In a HousingWire article published August 21, 2025, Brian Francis of Informative Research explains how new, fee based data access models from large banks, including JPMorgan Chase, could reshape open banking for mortgage verification.  It looks at what these models could mean for consumer permissioned data, lender workflows, and borrower costs. Read the full article (paywall).

• JPMorgan Chase announced planned fees for aggregator access to consumer bank data, prompting a broader conversation about cost sharing and data stewardship.
• Mortgage verification tools that support Day 1 Certainty, and AIM, rely on fast, reliable, consumer permissioned bank connections.
• Using a single fee model for all fintech use cases could raise costs for verification providers, lenders, and borrowers.
• The outlook for Section 1033 is unsettled, with possible changes at the CFPB, and the chance of a patchwork of state rules.

Our Take: At Informative Research, we support clear, consistent access rules that protect consumers, and keep verification efficient. We encourage lenders to watch partner contracts, and model different cost scenarios so pricing changes do not surprise borrowers. IR will keep working with partners across the ecosystem, and keep clients informed as the policy picture develops.