i thought there was a law that stated that they had to furnish you with a copy of the report and scores that they pull on you if you request it.
Can you go into a bit more detail? ... Did they refuse to give you your report?... what happened? When did you ask for it and what did they say?
Re: mort comp not giving me cred re No, they don't. (I'm one of them.) However, you ARE entitled to a disclosure which includes your credit scores, with a list of the major factors which contributed to each score. And of course, you are entitled to write to the credit bureaus (their addresses should be on this disclosure as well) and request a free copy of your report based on the fact that you have been denied credit. If you don't feel you have been denied, your next call to the mortgage consultant should go something like this: You: Hi, I saw an ad for 4.5% interest rate. Although I only have a 618 credit score, I want that loan. Mortgage guy: No. Voila, you've just been denied credit. It's probably up to the mortgage consultant if he/she wants to give you a copy of the entire report....I typically will not because the report includes codes relating to our internal account with the credit provider.
Re: mort comp not giving me cred re If you are denied, although they might choose whether they provide a copy of your credit reports to you, the CRAs cannot prohibit them. See FCRA.
Re: mort comp not giving me cred re I wanted the actual credit report to know what accounts were listed because I have already gotten my free annual credit report and they told me that they were not allowed.
Re: Re: mort comp not giving me cred re A good mortgage consultant would at least discuss the items with you. When people are more knowledgable about credit, scores are higher, and there is a better credit profile. Makes our job easier, especially if we run it through automated underwriting and get a decision. By the way, the free annual report has a drawback. If you dispute something based on that report, they have 45 days to verify it, as opposed to 30. This can be a disadvantage.
Re: Re: mort comp not giving me cred re Did they tell you that their contract with the CRA did not allow showing the report to you? Such clauses in CRA contracts are specifically prohibited by federal law in the cases where you are denied credit (including given poorer terms due to information on your reports.) See FCRA. Some lenders have been known to redact their own account information, either by cut and paste, or by blacking out on a paper copy and copying, to disclose the pertinent consumer information.
