Example Scenario 1: If your CRC charges a fee to use a Reference Number in Loan Product Advisor, you will be charged that fee for each Reference Number you submit.
Example Scenario 2: If you submit/resubmit a loan to Loan Product Advisor with the Merged Credit box selected, the CRC may charge you for a new merged credit report unless the Reference Number is also entered.
Example Scenario 3: You will incur a fee for each request of fresh credit in Loan Product Advisor, and the credit repositories will identify your inquiry on the borrower’s credit report. If the new credit has a negative impact to the assessment, you cannot subsequently request to use the original credit. Check with your selected CRCs for the price and applicability of their merged credit fees.
PLEASE NOTE: The repositories will identify all entities that view a borrower’s credit data in Loan Product Advisor on the borrower’s credit report.