Copy Of Credit Report To Client
Can a pre qualification Credit Report (via a mortgage broker) Be given to perspective customer?
No. Unless you are a credit reporting agency, you cannot provide any credit reports or copies of credit reports to anyone. The credit report is considered an internal document with private financial information. It is typically a violation of the agreement between the puller of credit and the credit reporting agency, if the puller of credit provides the information to another party. Thereby making that puller of credit a credit reporting agency. The subject of the credit report can generally request a copy from the credit reporting agency.
There are state exceptions where it is required by state law. ie; OHIO Mortage Broker's Act just made it mandatory to supply the credit report and appraisal report "immediately upon receipt" to the borrower.