When to Pull a Credit Report

Answered by:

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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