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Disclose Each Time a Credit Report is Pulled?

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Question: 
If a lender pulls an applicant's credit report more than once, is the lender required to provide a credit score disclosure each time the credit report is pulled?
Answer: 

No. Only the first credit score pulled must be disclosed. The law's assumption is that the first one is used for decision-making and the consumer's ability to shop. After that, the loan is in place and the consumer does not derive any shopping benefit from additional disclosures.

First published on BankersOnline.com 11/09/09

First published on 11/09/2009

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