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#1497958 - 01/20/11 08:17 PM Re-using credit reports
QueenBB Offline
100 Club
Joined: Jan 2006
Posts: 190
TX
Is it permissible to use the same credit report for multiple loans for the same builder? For example, Bob applies for a loan for the buying or building of investment property in January. Then, in September, he wants to buy or build again. Can we use the same credit report....."because it's less than a year old"?

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Lending Compliance
#1498026 - 01/20/11 08:57 PM Re: Re-using credit reports QueenBB
RR Joker Offline
10K Club
RR Joker
Joined: Nov 2002
Posts: 20,654
The Swamp
Not according to the FCRA. The report can only be used for the specific request it was ordered for.
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