I recently paid $325 for my credit report and appraisal for a refinance with Countrywide. They won't give me a copy and I paid for them. They stated it was illegal for them to give me the credit report?/ and they weren't sure why on the appraisal but they will call back. I was approved so Im not sure why they won't give me these. Any thoughts??
A while back when I shopped for my car loan, I asked one of the finance managers for a copy of the report that they pulled. I got the same line. Its illegal, he would get in trouble. I don't know where they get that from. My credit union, who I finally used, gave me a copy of the report. She offered it before I remembered to ask her. I guess some organizations have an internal policy not to provide the information. Ask for a supervisor/manager, see what response you get. KK
...YOU WON'T HAVE TO PAY ~$8.50 MORE (EACH) TO GET YOUR OWN IF THEY GIVE YOU A COPY!!! It's about $$$$$ not your right to have a copy!!!
"PLEASE PROVIDE THE DOCUMENTATION THAT IT IS ILLEGAL TO GIVE A CONSUMER A COPY OF THE CREDIT REPORT(S) THAT THEY PAID FOR"
George, I don't think its about the dollars because I aready paid $25 for it with my credit card over the phone. She pulled it with me on the line and went over a tri-merge report with me. She gave me my scores for all 3 CRAs and went over current tradelines and derogs. She mentioned that TU always comes back as the lowest score of the three. She stated she has been pulling bureaus for Countrywide for 3 years and TU is always the lowest. My TU is my best report but it was 25 points lower than the other two so she's probably right. I just don't understand what their trying to hide. I paid for the report but I can't see it??
Well they may not provide you with a copy of your credit report due to "policy" which could be their own or the CRA's policy which they get beaten into submission with. What recourse the CRA has against them for letting you see your own report, I don't know. When we applied for our mortgage, the broker gave us a copy of our reports. In fact, ours says "CONSUMER COPY" at the top. It includes scores and everything so how it differs from the bank's copy, I don't know. Tell the lender there is NO LAW that forbids them from giving you a copy but there are laws that protect consumers from shady deals. You could just say that you want to compare their copy vs. one you get from the CRA to ensure that correct information is being provided. Better yet, tell them you know about the "scam" of using older credit scoring models to lower scores and you want to make sure you aren't being take advantage of: http://www.ctnow.com/business/realestate/hc-harney0224feb24.story someone also posted the link for a story from LA Times about this As for the appraisal, they *have* toprovide you a copy! More than likely, your property taxes are based on the home's appraisal so you must get a copy in order to see the justification for your property taxes! I've known people who said the county/city etc was going to raise their property taxes by $200/yr. They demanded their homes be appriased at the county's expense--the county had to provide justification. So, based on the new appraisal, they were able to fight the increase because they could point out that other homes with the same appraised value had lower taxes. In fact, a few of them had their taxes lowered! Property taxes are public record...and in many cases so are appraisals.
Back to the appraisal...I close real estate loans every week...you paid for the appraisal with your closing costs...you can have a copy of it...they can charge you a small fee (for photocopying, postage, or such). However, the appraisal is YOURS--you PAID for it. I always give (no charge) the customer a copy of their appraisal when the 3 day recision period is over--it's just common curtesy, and good customer service. Possibly you're dealing with someone who's new to the field/inexperienced? Or, just an idiot. Could be both. David
That one I'm not sure about...let me check at work tomorrow....I don't hand those out to customers like I do appraisals, but if they ask, I make copy for them. I could be violating my own company's policy by doing so, but to me, it's the customers credit file--I used it to underwrite the loan, and I have no secrets to keep from the customer regarding it's contents. So, I'll let you know tomorrow. Thanks, David
If a non-cra provides you a copy of your credit report, they are acting in the capaciity of a cra. This would mean that they are subject to the same rules, regulations etc.. That is typically the reason why they will not let you have a copy. It is actually against federal regulations. By law they must provide you with a copy of the appraisal.
PLEASE PROVIDE A COPY OF THE LAW!!!!!!!! IT'S YOUR CREDIT REPORT!!!!!!! There has been PROOF that what the consumer gets is different than a business...if the consumer can't see it...then they won't be able to fix it!!!!!!
...And if the consumer IS getting a report different than that which is provided to the business, how on earth are the CRA's providing US with ACCURATE reports? Um, that is what they "strive" to do, isn't it? That is provide accurate information. - At least thats what they tell us when they are asked to delete a derog account.
Peoperty taxes are not determined from loan appraisals. likewise loan values aren't based on tax appraisals. The values on a home between the two can vary greatly. The value you get on an appraisal depends on who is having the appraisal done.
Ok C1A1D how does using Caps Lock make George wrong.Or is there some other reason,if so what is it???
