Do banks have an obligation to send me a copy of my credit report after they pulled it (for obtaining a pre-approval purpose)?

Asked by Jbarnesashley, 94105 Tue Mar 20, 2012

I talked to a loan officer at Chase bank to obtain a pre-approval letter. They pulled my credit report, but when i asked them to forward me a copy of it, they said it's Chase's policy to not send it out. Is this true? I thought banks are obligated to send customers copy of their credit check.

Thank you!

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My NC Homes Team’s answer
My NC Homes…, Agent, Chapel Hill, NC
Thu Mar 22, 2012
It's your right to review your credit and the fact that Chase is givingyou a hard time rather than simply sending you the copy you asked is reason to take your business elsewhere. I would tell the laon officer very simply , if you don't give me a copy now, our business is over and I will make a point of bad mouthing you and Chase whenever the opportunity presents itself.

Do not waste your time and support lenders who apparently haven't the most basic understanding of customer service.
1 vote
John McClell…, Mortgage Broker Or Lender, Austin, TX
Sun Jan 5, 2014
We all have to use credit providers to access credit reports for use in determining credit worthiness. Providers such as Credit technologies, Sarma, Factual Data, etc....These providers classify us as "users" and prohibit us from sending the consumer anything but the Scores. The penalty could be as extreme as all three of the major bureaus cutting us off...and that would be a "death" nail for a company.

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..
2 votes
I am currently taking a course for my continued education and I just learned this. I was very surprised that we could not give credit reports because I know a lot of people who send the credit report immediately after pulling credit. According to the CE course I am taking this is against FACTA and illegal. John said everything I just learned in this course. Thank you for confirming, John. Look it up, everyone else who is arguing with him.
Flag Sun Oct 30, 2016
This is crazy and I would confront the ftc on these rules from the subscription agencies because as I mentioned above I didn't see the ftc say the client couldn't have it nor did they say they could, it did say what info to give the client, so I feel what's not mentioned can be interpreted as it's your discretion to give it or not they definitely don't say it's the credit report subscriptions sole ruling on who you can give it to. That's insane.
Flag Thu Jun 2, 2016
john you are a made up person who has no idea what they are talking about by law anyone running a consumers credit must provide them with a copy upon request
Flag Wed Oct 22, 2014
Any time I utter the name '_ _ _S E' I'm left with a BAD taste in my mouth!

Securities fraud, liquidated damages, and contracts for payment processing, etc, etc.
I'm shocked by the fact people still do business with them, let alone give them their SSN!
Flag Wed Aug 13, 2014
John, great answer from the lenders perspective. As an investor I have run into this from several lender over the years and you answer clarifies what they have told me however; brace yourself...why, as a vendor providing a service, don't the lender stand up to the providers and change this? Why sign an agreement with the provider that forces lender to anger their customers? An entity like Chase surely has enough clout to negotiate with credit report providers to alter the status quo. Or could it be that lenders do not want to be responsible for giving out credit reports? Giving out report would be a good service but one that would A. cost them a lot over the course of a year in labor and printing, and B. allow consumers to shop around for a better loan without giving their personal information and having multiple report/ inquiries. So they push the responsibility off to the providers and call them provider a higher authority. Thoughts?
Flag Tue Jul 22, 2014
George Raymo…, Mortgage Broker Or Lender, Fort Worth, TX
Tue Mar 20, 2012
That's because you went to Chase. I do not struggle with this. If a borrower wants to see their credit it's their right. Other Loan Officers argue that once you give a client a copy of their credit report they will shop around. I say...who cares. If I cannot connect with the borrower within 10 minutes in the phone, I didn't do my job and they should go out and find that one LO who they feel will best represent them. Please remember if you would like to know what's on your credit, you can go to the link below and get your (1) time FREE Credit Report from all the major credit bureaus once a year and have FREE Disputing for the next 30 days.

Best of Luck!
2 votes
The ftc website in addressing giving the client information of a decline due to credit says they have the right to be told their score what declined them and what reporting agency the negative info was from, then directs you to give the annual credit report website, it says nothing about a client has a right to receive nor does not have a right to receive the credit report the financial institution provided, that I can see. Some say if you did not pay for the credit report, then it belongs to their company. Credit reports from brokers/lenders provide more information and codes that are not on the consumer reports you are entitled to so they may be a bit more difficult to decipher the information. I think I would give the option that if they would like a copy they need to pay for it, the service the lender pays to pull credit is not free and it gets to a point with shoppers that time, paper, ink and credit subscriptions cost money.
Flag Thu Jun 2, 2016
Love your response! You hit the nail on the head and I am betting you are very successful.
Flag Thu Jul 9, 2015
Have you asked the your credit provider if it is ok for you to give out a credit report? I bet they say you cannot....
Flag Sun Jan 5, 2014
Raymond Whit…, Agent, Mesa, AZ
Sun Jan 5, 2014
That's bad business and I wouldn't tolerate it for a second. Get your credit report and tell that dog to go bark at another car! I can't stand poor business ethics.... I get red ears just hearing that as I've heard that before and didn't tolerate it then either. Who do those people think they are anyway? You give them permission and authorization to work for you and whether or not you've paid for it, (doesn't or shouldn't matter) It is your personal information and should be immediately released to you. Walking papers need to be issued right away for that group of braniacs...
1 vote
Kawain Payne, Agent, Seal Beach, CA
Sat May 18, 2013
Chase may not send you a copy directly, but they can give you the info on the company they used to run the report and you can request a copy from them..

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
1 vote
Chase did the right thing. The credit agency that Chase bought the report from can send you a copy free of charge. READ FACTA ., There is some much misinformation on this page it is mindboggling. Just because other lenders did it doesn't mean they aren't breaking the law. I don't work for Chase but have been in the mortgage industry for 33 years. Chase is right this time
Flag Wed Mar 29, 2017
Rob Regan, Agent, San Francisco, CA
Tue Mar 20, 2012
You have a right to get it from the credit reporting agency(s) they used. They should know that and have informed you of how to go about it.

Anyone can also get their 3 reports for free (but not free scores) from (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.
Web Reference:
1 vote
Flag Tue Mar 20, 2012
Azmkps, Home Buyer, New York, NY
Mon Oct 31, 2016
As a Mortgage Loan Originator can you give the borrower the credit report ? why?

what if the company paid for it?
0 votes
KM, Home Buyer, Oakley, CA
Thu Dec 3, 2015
By law, lenders must disclose the credit scores and credit scoring factors when they obtain a credit report.

Lenders are not credit reporting providers. They are not allowed to provide credit information other than their own. Providing the credit report to the borrower would make them acting in a capacity of a credit reporting provider because other creditors information are in the credit report.

The lender can provide information regarding how the borrower can obtain a copy of the same credit report they pulled from the credit agency.
0 votes
Flag Wed Mar 29, 2017
Monique Scott, Home Buyer, Winthrop Harbor, IL
Thu Jul 9, 2015
Everyone needs to stand up and turn against the Big Banks for their mortgage needs.

DID YOU KNOW: Chase charges $430 for a conventional appraisal and $530 for an FHA appraisal and pays anywhere between $275 to $400 tops for them! They own the "3rd party ordering service" that orders the appraisal and pockets the rest of the money! There used to be protection for buyers in that you could NOT charge more than the invoice for the appraisal - but hey, let's call it a 3rd party service and make a few hundred off each one.

This is ONE of the scams the big banks are getting away with! The mortgage company's are not the people that were ripping you off (ok... well maybe in some cases some were)... but for the most part, we are all hard working people who really got a bad rap.
When an LO works for the bank, they are covered under their umbrella.
When you work for a mortgage company, you have to get fingerprinted, take continuing education classes every year, and pass the state mandated tests for each state you do business in. We are also much more likely to do prison time for scams than the big boys who get away with it right under the governments noses. I would say prison time is a pretty big deterrent.

Support a good, reputable mortgage company and make sure to keep them in business because if they all go OUT of business and the banks are all that are left - well, you know there is nothing forcing them to be competitive at that point. No - the rates are not higher. No - the programs are not any different and in many cases; they have more programs available!

Think outside of the box for a change.
0 votes
Why all the Chase bashing? No one can mark up an FHA appraisal.. Cahse just like the rest of the lenders in the US undergoes a periodic FHA audit. If they find a few instances on=f this the borrower is refunded within 30 days. If its a wholesale practice the CFPB will step in and the punishment never fits the crime. CFPB is notorious for fining lenders a lot more than actual damages . They love setting examples. Chase is not that ignorant.
Flag Wed Mar 29, 2017
Hank Wilson, Agent, Bowling Green, KY
Wed Feb 26, 2014
If a lender offers less than satisfactory customer service at this point, imagine how dealing with issues with your future mortgage may be. Consider looking for a lender that has the service to go along with the ability to lend.
0 votes
Stephen Scol…, Renter, 94105
Wed Feb 26, 2014
They are obligated to send a notification a that they pulled your credit and instructions on how to pull it for yourself. Ex. Mortgage Loan Officer.
0 votes
Bradley Neum…, Mortgage Broker Or Lender, Franklin, TN
Sat Oct 26, 2013
They don't have an obligation but we always send it to our clients. Call or email for a free pre-approval and free credit report.

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.

Brad Neumann
Sr. Loan Officer
Crosscountry Mortgage Inc.
Toll Free: (855) 415-5626 ext. 5734
NMLS# 948036
0 votes
its illegal and your bragging about it !
Flag Wed Mar 29, 2017
GISGUY37, Home Owner, Uniontown, OH
Fri Aug 30, 2013
There are actually two types of credit reports, the one you get when you go to the credit agencies, and the one the banks get...they are not the same. Frontline did a special exposing this...because a lady had a clean report but was denied credit, but when she looked at the bank's credit report on her, it had someone listed who wasn't her that racked up a bunch of debt for non-paid utilities in Utah and she always lived in Ohio and never been to Utah
0 votes
Uche, , San Francisco, CA
Fri May 17, 2013
I am a Realtor in 94105, and concerned there are some misrepresentations being made in the answers. Lenders should direct you to the Credit Reporting Agencies.

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
the Currency
Compliance Management
Mail Stop 6-6
Washington, DC 20219

Here is the section Will Dan misquoted:
‘‘(1) IN GENERAL.—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 ‘lender’) shall provide the following
to the consumer as soon as reasonably practicable:...

and another important section:
the following notice, which shall include the name, address,
and telephone number of each consumer reporting agency
providing a credit score that was used:
‘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.
‘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.
‘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.
‘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.
0 votes
Will Dan, , USA, Mobile, AL
Fri Apr 5, 2013
Fair & Accurate Credit Trasactions Act (FACTA) of 2003

"....... 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......."
0 votes
You are right but if your read carefully, its only a copy of the "information" obtained. Not necessarily a copy of the actual Credit Report. Many lenders provide a letter with a summary of report findings, including the credit score. And they are complying with the law.
Flag Mon Feb 3, 2014
Russ Ravary, Agent, Commerce Township, MI
Wed Mar 13, 2013
No they are not required to send you copy. Drop in and see them. They may give it to you
0 votes
, ,
Wed Mar 13, 2013
Unfortunately, the bank is not required to provide a copy of your credit report. Banks are strictly regulated and a lot of issues and unwanted questions may arise in providing the credit report. Most financial institutions do not want to be held liable for the information reported and submitted in a credit report and it would do you better to get answers directly from the Credit Bureaus. Banks have created their own policies that limit the information provided to the borrower to simply disclosing the credit score(s) and contact information for the reporting agencies.
0 votes
Oggi Kashi, Agent, San Francisco, CA
Thu Mar 22, 2012
I found that if there are issues with your credit, some lenders will forward you a limited copy in order to help you correct any possible mistakes on your credit report.

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.
0 votes
Jim Simms, Mortgage Broker Or Lender, Louisville, KY
Wed Mar 21, 2012
They are not supposed to give you a copy, they are classified as a user, not a provider. If they want to give you a copy they should deface it, such as marking it “COPY”. Why do you want a copy? You can get one online for free once a year from all three repositories.
0 votes
Steve Earnsh…, Agent, Florence, OR
Tue Mar 20, 2012
In my past experience as a commercial bank lender, banks are not prohibited from providing you a copy of your credit report. Most choose not to because it may make the bank liable for errors under the Fair Credit Reporting Act. Any time you are denied credit, all three credit reporting agencies will provide you with a copy of your credit report. They must also provide you with a copy of your credit report annually and at no cost if requested. There are many fee for service companies which will provide you with your credit report for an monthly or annual fee, and usually tied in to some kind of credit monitoring service to allert you to any identity theft issues.
0 votes
Gabriel Rojas, Agent, San Francisco, CA
Tue Mar 20, 2012
Unfortunately, the bank does not have an obligation to give one to you. I do like the idea that Ron gave which was to ask for it and see what they say. However, if you ask (and you should) which agency the bank is using you will have the right to contact one or all of them for a free copy. The most commonly used credit reporting agencies are TransUnion, Experian, and Equifax.

I hope this is helpful and good luck on your pre-approval letter!


0 votes
Helen Yuen, Agent, Oakland Ca 94605, CA
Tue Mar 20, 2012
Hi: this is true and they have that right because it was a free service for you -- if you had paid for that
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 (415) 469-0577
0 votes
thank you!
Flag Tue Mar 20, 2012
Ron Thomas, Agent, Fresno, CA
Tue Mar 20, 2012
It has been my experience that if/when the bank does a credit report on you, that they will not give you a copy.
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
0 votes
Flag Tue Mar 20, 2012
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