Posted on: 07th Oct, 2008 03:11 pm
I have heard/read conflicting details about getting a copy of my credit report from the person who pulled my report. I live in Texas, and no two people have given me the same answer. Some say that it is against the Mortgage Broker Licensing Laws, and others say that I can get a copy of it. I have not been turned down/denied for anything yet. I just wanted a copy of what they are looking at without having to go online and order my own personal copy from the credit bureaus.
Legally they can't.
Thanks Javan...
I just need to know the legal reason why they are not allowed to give me a copy of the report. Is there a law somewhere that states this? If so, where/what is that law?
Thanks so much.
I just need to know the legal reason why they are not allowed to give me a copy of the report. Is there a law somewhere that states this? If so, where/what is that law?
Thanks so much.
many years ago, the standard that applied to lenders was as follows:
providing a credit report to a borrower equated a lender to a credit reporting agency. what that meant overall was that the lender could then be held responsible for errors that appeared on the report, if any. since a lender is not a credit reporting agency and doesn't want to be considered as one, i was always told not to give out a credit report.
i do not know the laws of the state of texas, but i have since heard several different opinions on issuance of a credit report by a lender to a consumer. in my office here in connecticut, we regularly give out our reports to our borrowers; along with advice on how to boost scores, negotiate with creditors, etc.
one of our regular posters here - elnora - has stated that it is a requirement that we provide the reports. i have not been apprised of that requirement, but we do it as a service.
in order to get to the bottom of this, you may want to contact the consumer protection agency in your state government. they would likely have some control over that issue.
providing a credit report to a borrower equated a lender to a credit reporting agency. what that meant overall was that the lender could then be held responsible for errors that appeared on the report, if any. since a lender is not a credit reporting agency and doesn't want to be considered as one, i was always told not to give out a credit report.
i do not know the laws of the state of texas, but i have since heard several different opinions on issuance of a credit report by a lender to a consumer. in my office here in connecticut, we regularly give out our reports to our borrowers; along with advice on how to boost scores, negotiate with creditors, etc.
one of our regular posters here - elnora - has stated that it is a requirement that we provide the reports. i have not been apprised of that requirement, but we do it as a service.
in order to get to the bottom of this, you may want to contact the consumer protection agency in your state government. they would likely have some control over that issue.
Hi
New York here I have recently applied to two seprate mortgage companies and they both offered to give me my report and told me that they go by the middle number on it. So I said ok and now have two copies of my report. And this is my fico score those three numbers on it the middle one is the important one.
Cat
New York here I have recently applied to two seprate mortgage companies and they both offered to give me my report and told me that they go by the middle number on it. So I said ok and now have two copies of my report. And this is my fico score those three numbers on it the middle one is the important one.
Cat
Loan officers may or may not give you a copy , its their decision, except when the broker have a rule of not giving copies. But you can have every year a copy of your credit report for free, and if you want an exact copy of the one use in particular, just ask the loan officer what credit bureau he was using, and call that one in particular.
Hi,
If you are confused about the reports you got, you can call them up for the clarification. You can also get free copy of your credit report by logging on to www.annualcreditreport.com or else you can also ask for your current credit report from the mortgage company. I don't think that there is any rule of not providing the credit report to the borrowers.
If you are confused about the reports you got, you can call them up for the clarification. You can also get free copy of your credit report by logging on to www.annualcreditreport.com or else you can also ask for your current credit report from the mortgage company. I don't think that there is any rule of not providing the credit report to the borrowers.