Sobe420

Mortgage Broker Can Pull Credit Without My Permission

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For some reason DW talked to a morgage broker last fall and he ran our credit. Since then every 2 months he has ran our credit again for some unknown reason.

I have successfully been able to challenge and remove most of the inquiries. This guy actually pulled from all 3 services so the number of inquiries really added up.

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I was working with a mortgage broker. She pulled my credit twice as recent as last week. I guess she switched to a different company and pulled my credit again today without my permission can they do this??

If you authorize a broker or mortgage shop to pull your credit, they have to "shop" your loan with an investor that they are set up with. This WILL hurt your credit.

ASK questions before you give out your social security number. Ask if the credit they pull is good for ALL investors they are signed up with or if each individual investor has to pull your credit also. Call a different broker/mortgage company if they say that they have to pull your credit first or if they stall on this question.

They should be able to reply that your credit pull with them works for all their investors and no futher pulling of your credit is involved. Your credit report is good for 180 days from date of pull for any conventional loan and FHA. It is good for even longer on a new construction loan.

Beware of anyone pulling your credit 2 or 3 months after you have already talked with them and given your information to them. They are NOT AUTHORIZED to re-pull credit without your permission. If they do, call them and report them to the BBB. You might want to talk to their manager also and file a complaint.

What they are doing is looking to see if your credit has improved to see if they should call you to sell you a loan product. VERY BAD BUSINESS! You do not want to work with these kind of people.

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LOL We have 1 mortgage broker we deal with. In twenty years she has financed 3 houses for us. The only contact we have with her in between is she sends us her new business card if she changes companies. (LOL this happens about every 3 years) Over the years I have referred at least 4 friends to her and she has always taken good care of them and sends me a thank you note.

Have no idea why DW even talked to the above mentioned loser, let alone why she gave him our information. *shrugs*

Wives!!! Sometimes you just wonder about them. :lol:

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Someone told me that this person is not even a broker that they are a processor. Apparently they went from one company to another and sent me an email saying they pulled my credit since the "new" company has lower rates...they point is right now all the lenders have said get my scores up it has not changed in two weeks why pull it!!!

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"...pulled my credit again without my permission..."

MAJOR violation of the FCRA.

"...not even a broker..."

A tersely worded ITS to her new boss for violating PP should get this idiot fired, rightfully so...This is inexcusable for someone in the industry.

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Yea I know and then she had the nerve to question some of the inquiries on my credit...it was one with another broker who said who could help(yea they could not) I even read through the emails and fwd them to a friend and he said you never gave her permission.

He told me she was not even a broker but a processor and I need to tell her to take a hike!

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Did you sign anything giving them permission to pull your credit. You have to be really careful about this, because when you apply online, there are usually disclaimers that will allow a broker to pull your credit (such as Lending Tree, etc.).

A broker can be in hot water should they use only verbal permission, because verbal is .....well....verbal.

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It was all verbal over the phone when they worked for one company then they switched companies and never given verbal or written to pull. Apparently someone told me they are not even a broker they are a processor?

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