Yes, consumer consent is required. Consent can be obtained via a traditional signed paper authorization, online through a digital process, or verbally if the phone call is recorded.

No, but you must show permissible purpose by retaining written or verbal consent from the borrower.

Costs are a small fraction of a tri-merge report but vary somewhat based on your specific needs. Your sales professional can provide you with specific options and associated costs.

Yes, you can charge borrowers for these reports.

Perhaps. The repositories require a third-party inspection to be completed prior to allowing access. If you have the required security requirements in place, it’s possible that you may be able to obtain access. Contact us for more information.

Each account requires repository approval so time can vary a bit. Generally, it takes about 7 business days from the time we receive your completed application (or addendum for existing Credit Technologies clients.)

Yes, but most don’t. Virtually every LOS charges an additional transaction fee (typically $1.00-$2.00) when ordering products. As the soft preapproval report cannot be used in the lending/underwriting process, there’s little reason to incur the additional fee. It’s simpler and more economical to order SoftQualify reports online directly through Credit Technologies.

Yes.