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#2220386 - 08/26/19 04:21 PM credit report time limit?
Burgess Offline
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Joined: Jan 2004
Posts: 1,621
is there a time limit on how long we can use a credit report we pull in conjunction with an application. We pulled credit on day one but it takes 45 days to get the loan through. There is no regulatory 30 days requirement on a credit report is there?
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#2220390 - 08/26/19 05:00 PM Re: credit report time limit? Burgess
Skittles Online
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Joined: Sep 2002
Posts: 13,965
TN
There is no regulatory requirement; however if you're selling a mortgage loan on the secondary market they generally do have time limits. Other than that it's bank policy.
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#2220398 - 08/26/19 05:43 PM Re: credit report time limit? Skittles
Carolina Blue Offline
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Lost in a regulatory fog
Also, if you are using your credit reports for MLA covered borrower certification that will only be good for 30 days. I can't imagine a situation where you'd have a MLA covered loan take longer than 30 days to close but something to consider.

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#2220404 - 08/26/19 06:08 PM Re: credit report time limit? Burgess
Skittles Online
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TN
Good point, Carolina!
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