[e63f67dd-065b]

The article mentions that one in ten pulls actually convert into a mortgage, so actually each borrower is paying $1500.

[sidewndr46]

My experience was that rental companies do the same thing for a lease. I paid for one more than once when leasing a house

[jjtheblunt]

Do you mean 1 in 10 paying $150 use the payment and 9 in 10 throw it away?

[e63f67dd-065b]

> Only one out of every ten prospective customers ends up taking out a mortgage, so higher prices fronted by mortgage bankers add up

I read this as for every ten customers who get to a point where they get their credit pulled, only one of them end up closing on the mortgage (ie buying a house). Could be due to shopping around, negotiations falling through, or the other millions of reasons you could end up wanting to buy a house but not close the transaction.