If we obtain a credit report for a consumer's request for a non-real estate secured loan (like an auto loan), can we use information in that report to send a letter to the customer marketing our home equity products? The question has been posed to me under two circumstances:1) we do grant the initial request and therfore the applicant becomes a customer, 2) we don't grant the request, primarily because another lender beat us to the approval (indirect lending).
We would typically see a mortgage on the credit report, triggering the marketing of our HELOC product.