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#2244817 - 10/29/20 06:43 PM Credit Reports-Commercial Loan
JMcGee Offline
New Poster
Joined: Sep 2020
Posts: 9
Hello,

I am unable to find anything on when does a credit report expire on commercial loans.

Does anyone know?

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Lending Compliance
#2244829 - 10/29/20 07:25 PM Re: Credit Reports-Commercial Loan JMcGee
Dan Persfull Offline
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Dan Persfull
Joined: Aug 2002
Posts: 46,768
Bloomington, IN
The reuse of a credit report would be dependent on your loan policy and if your contract with your provider allows the reuse of the report for permissible purposes.
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The opinions expressed are mine and they are not to be taken as legal advice.

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#2244988 - 11/03/20 02:05 AM Re: Credit Reports-Commercial Loan JMcGee
David Dickinson Offline
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David Dickinson
Joined: Nov 2000
Posts: 18,762
Central City, NE
"When does a credit report expire?" There are LOTS of reasons that you should never re-use a credit report. Start with the contract you have with your provider - as Dan states. I'll bet they say it is a one time use. Don't you think they want you to pay for another? So even if you're policy says you can reuse a report, it's most likely a violation of the contract.
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David Dickinson
http://www.bankerscompliance.com

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