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Credit Authorization

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  • #32600
    jes_1000
    Participant

    Does this fall under FCRA?

    If we have a joint application/inquiry for credit, can only 1 borrower provide authorization for the joint credit pull or must both borrowers provide their own authorization for the credit pull?

    #32606
    rcooper
    Keymaster

    An application is sufficient authorization for pulling the credit report, however, some lenders may have additional authorization procedures in place. Your process for complying with the intent to apply for joint credit under Reg B should be sufficient documentation of an application by both applicants to pull a credit report on both applicants.

    I hope this answers your question – if not, please let us know.

    Thanks!

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