Well, apparently not when we are speaking about shopping around for a mortgage. Initiating a conversation with a lender/mortgage broker in regards to rates and qualifying for a mortgage is considered a permissible purpose for the company to pull your credit. This would necessitate they have your social or other information, but they would not need a written authorization to proceed with a "hard" credit pull if they obtained that information.
From the Fair Credit Reporting Act:
§ 604. Permissible purposes of reports
(a) IN GENERAL.--Subject to subsection (c), any consumer reporting agency may furnish a consumer report under the following circumstances and no other:
....(3) To a person which it has reason to believe--
(A) intends to use the information in connection with a credit transaction involving the consumer on whom the information is to be furnished and involving the extension of credit to, or review or collection of an account of, the consumer; or
(B) intends to use the information for employment purposes; or ....(F) otherwise has a legitimate business need for the information--
(i) in connection with a business transaction that is initiated by the consumer; or
(ii) to review an account to determine whether the consumer continues to meet the terms of the account.
....
(b) Conditions for Furnishing and Using Consumer Reports for Employment Purposes.-
(1) CERTIFICATION FROM USER.--A consumer reporting agency may furnish a consumer report for employment purposes only if--
....
(ii) the consumer has authorized in writing (which authorization may be made on the document referred to in clause (i)) the procurement of the report by that person.
So, the next time you shop for a mortgage be mindful that you could see multiple pulls on your credit report - even if you didn't specifically authorize it.
(there are some differences of opinion on this - I found this old thread interesting http://forum.brokeroutpost.com/loans/forum/2/250147.htm . You can see more context to the FCRA quotation there.)
Are
Are Andresen
Broker, licensed in Virginia
Realtor, ABR - Accredited Buyer Representative
Soldsense 1934 Old Gallows Road Suite 350, Vienna VA 22182
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