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When to Pull a Credit Report

Question: 
If we have a signed application for a TRID loan, can we pull a credit bureau before receiving the customer’s intent to proceed?
Answer: 

Yes. To pull a credit report, you need a permissible purpose and an application for credit would be a permissible purpose. TRID also allows you to pull and charge for a credit report prior to obtaining the applicant’s intent to proceed.
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First published on 08/20/2017

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