What are you looking for? 

Is a mortgage lender/broker required to get a signed consent form before pulling my credit

Author Message
Icon Mini Profile ckirk1



Joined: 01 Sep 2008

Posts: 2



1.89 Dollars($)

PostPosted: Mon Sep 01, 2008 6:38 pm    Post subject: Is a mortgage lender/broker required to get a signed consent

Is a mortgage lender/broker required to get a signed consent form before pulling my credit prior to an application being taken
 
image
CA Broker

Guest







0.10 Dollars($)

PostPosted: Mon Sep 01, 2008 9:05 pm    Post subject: No

They are not. They may take your application over the phone and pull your credit with your verbal approval. Giving them all your information is giving them authorization to pull your credit.
 
image
Icon Mini Profile jameshogg
jameshogg


Joined: 20 Dec 2005

Posts: 1392
Location: nevada


189.99 Dollars($)

PostPosted: Mon Sep 01, 2008 9:38 pm    Post subject: RE: credit report pull

Welcome ckirk,

I agree with the guest poster.

Pulling out a customer's credit report without authorization isn't illegal.

The only time you need to provide a written authorization is when your employer seeks to check your credit report.

Thanks
 
image
worried

Guest







0.10 Dollars($)

PostPosted: Mon Sep 08, 2008 9:42 am    Post subject: pulling credit without consent

I was working with a broker who the loan officer pulled my credit report & the loan officer no longer works for this broker & went to work for another broker is it legal for this loan officer to pull my credit report with the new broker without my consent?
 
image
Icon Mini Profile Jessica
Jessica
Community Mentor
Community Mentor

Joined: 08 Jun 2004

Posts: 715
Location: OHIO


130.36 Dollars($)

PostPosted: Tue Sep 09, 2008 4:51 am    Post subject:

Hi guest,

If the loan officer is working with the new broker in order to process your loan, I think it's legal for him to pull your credit report.

Regards,

Jessica.

_________________
Home buying made simple with Community booklet
 
image
Icon Mini Profile gmakerley
gmakerley
Community Mentor
Community Mentor

Joined: 09 Nov 2007

Posts: 1346
Location: bloomfield, ct


45.00 Dollars($)

PostPosted: Tue Sep 09, 2008 10:39 am    Post subject:

i'm in agreement with jessica. if your relationship is with the original lender and not the loan officer, you might want to contact that loan officer to advise him not to pull another report. otherwise, it makes sense for him to have done so.
_________________
George M. Akerley
Senior Loan Officer
Freedom Mortgage Corporation
37 Jerome Avenue
Bloomfield, CT 06002
860-286-0444
 
image
Icon Mini Profile vegas_storms



Joined: 12 Sep 2008

Posts: 50



1.24 Dollars($)

PostPosted: Fri Sep 12, 2008 8:38 pm    Post subject:

Pulling your credit without verbal or written permission is illegal.

The LO should have informed you he had moved to a different company and asked if you would like to have him complete your loan. If you said yes he would then need to pull another copy of your credit.

_________________
http://www.mortgagebreakdown.com
Information given is an opinion, for true legal advice please consult an attorney.
 
image
Icon Mini Profile lisascherzer



Joined: 04 Jan 2008

Posts: 755



1.03 Dollars($)

PostPosted: Tue Sep 16, 2008 12:00 am    Post subject:

Worried,

I agree with vegas_storms. THe new company is not allowed to pull your credit without your consent. When you gave consent originally it was to the old company. What the loan officer did is wrong and you could contact the state licensing agency and enter a complaint. Most states require loan officers to be licensed so that they can govern them. If you don't inform them of the wrong doing, they will never know and this could continue on with others.

_________________
Lisa Scherzer
Allpointe Mortgage
Expert Mortgage Broker
440-521-7060
Free Mortgage Quotes
Get Mortgage Information
Search Real Estate Agents Here
 
image
Quick Reply
Your Name
Subject
Message body

All times are GMT - 7 Hours
Page 1 of 1

 
Highlights
Helpful References
Mortgage Guide
Mortgage Terms
Mortgage News
Book Center
Shop and Compare lenders
30 Yr. Fixed Vs. 5/1 ARM


Calculators     [View all]
Are you eligible for loan?
How much you can afford?
Calculate monthly payment
Calculate APR


Financial Tools
Credit Repair Tool
Mortgage Planner
Simple Budgeting Tool


Community Rewards
Five simple ways to earn money with the Mortgage Community.

MortgageFit Live Help

Explore the lender near you

Google Map Image

MF Talk

 
About Us  | Contact Us  | Our Blog  | Privacy Policy  | Testimonials  | Website Tools  | RSS Feeds  | Site Map 
We have chosen to apply the Creative Commons Attribution License to all works we publish.
This work is licensed under cc by 2.0