Do not waste your time and support lenders who apparently haven't the most basic understanding of customer service.
All providers will give you a copy of your report upon request....ask your loan officer for the contact information and they should be able to provide it.
so just to be clear...Mortgage company = User ......Company that provides the report to the MTG company = Provider ....ONLY providers can give out the report to the consumer..
I actually had this happen to a buyer who was being pre qualified from Chase. The rep at Chase would not even give me a copy of the report when I asked for it to submit an offer. My client had had to get it from the company Chase used to run the report.
I have not had this experience with other lenders.
Kawain Payne, Realtor
Best of Luck!
Anyone can also get their 3 reports for free (but not free scores) from http://www.annualcreditreport.com (this is a Gov site, not one advertised on TV) once per year. You should ALWAYS order and review your 3 reports before applying for any major credit.
We can do: FHA, Conventional, USDA, VA, HARP, Interest Only, Home Equity, Fixed, and Variable. Find out which product is right for you by calling Brad at (855) 415-5626.
Sr. Loan Officer
Crosscountry Mortgage Inc.
Toll Free: (855) 415-5626 ext. 5734
FACT (or FACTA) the Fair Credit Transactions reporting Act was misquoted by Will Dan.
I included a link where you can go to a .gov website and get the real text, I included excerpts that refute Mr. Dan below.
You can also ask :
Office of the Comptroller of
Mail Stop 6-6
Washington, DC 20219
Here is the section Will Dan misquoted:
â€˜â€˜(1) IN GENERAL.â€”Any person who makes or arranges loans
and who uses a consumer credit score, as defined in subsection
(f), in connection with an application initiated or sought by
a consumer for a closed end loan or the establishment of an
open end loan for a consumer purpose that is secured by 1
to 4 units of residential real property (hereafter in this subsection
referred to as the â€˜lenderâ€™) shall provide the following
to the consumer as soon as reasonably practicable:...
and another important section:
(D) NOTICE TO HOME LOAN APPLICANTS.â€”A copy of
the following notice, which shall include the name, address,
and telephone number of each consumer reporting agency
providing a credit score that was used:
â€˜NOTICE TO THE HOME LOAN APPLICANT
â€˜In connection with your application for a home loan, the lender
must disclose to you the score that a consumer reporting agency
distributed to users and the lender used in connection with your
home loan, and the key factors affecting your credit scores.
â€˜The credit score is a computer generated summary calculated
at the time of the request and based on information that a consumer
reporting agency or lender has on file. The scores are based on
data about your credit history and payment patterns. Credit scores
are important because they are used to assist the lender in determining
whether you will obtain a loan. They may also be used
to determine what interest rate you may be offered on the mortgage.
Credit scores can change over time, depending on your conduct,
how your credit history and payment patterns change, and how
credit scoring technologies change.
â€˜Because the score is based on information in your credit history,
it is very important that you review the credit-related information
that is being furnished to make sure it is accurate. Credit
records may vary from one company to another.
â€˜If you have questions about your credit score or the credit
information that is furnished to you, contact the consumer reporting
agency at the address and telephone number provided with this
notice, or contact the lender, if the lender developed or generated
the credit score. The consumer reporting agency plays no part
in the decision to take any action on the loan application and
is unable to provide you with specific reasons for the decision
on a loan application....
Before I became a realtor I worked for Bank of America as a loan officer. My boss told us we were not allowed by law to give the credit reports to the borrowers although we were equipped to print them out. He explained about being a Consumer Reporting Agency vs. being a bank. I have seen loan officers give out the credit reports - but I always imagined they were unaware of the fact.
"....... Any person who makes or arranges loans and who uses consumer credit scores in connection with a closed end loan (or the establishment of an open ended loan for a consumer purpose) that is secured by a one to 4 unit residential property shall provide a copy of the information (including credit scores) obtained from a consumer reporting agency used in the underwriting decision......."
Oggi Kashi - 415.690.3792 direct
Broker Associate, Paragon Real Estate Group CA DRE 01844627
All data from sources deemed reliable but subject to errors and omissions, and not warranted.
I hope this is helpful and good luck on your pre-approval letter!
report or ordered it on your own -- you would have had a copy.
To get a free credit report and more information on the credit subject - go to my blog:
Helen Yuen's blog - How to Maximize Your Credit Score Before Applying for a Loan.
Helen Yuen, Realtor Associate, Land & Property Investments, Inc. Sunset SF with parking
Buy * Sell * Pre-qualify for Home Loans * Market Analysis of Homes for Sales or Property Tax
firstname.lastname@example.org (415) 469-0577
When you fill out the application, the Bank Officer probably will tell you that you will have to pay for the Report and it will be $xx, (between $40 and $75); at that time, tell them that you want a copy, and see what they say.
Good luck and may God bless