FULL FACTUAL

[Sbrooks1]

So, was going to shoot for a final preapproval for total of 3 to make an informed choice and the lender pulled a FULL factual so thats gonna be a no. WOW!! How embarrasing.

[Anonymous]

What is that and why is it embarrassing?

[Sbrooks1]

IT is a report lenders may pull for loans over 150,000 that go back to the beginning of time. So any negatives ever are shown. Not a good thing in my case and anyone who has had to rebuild. 

[meljeff1]

So you agreed to it before you knew what it was? Why would anyone want to do that?? LOL

[Sbrooks1]

No , I didn't agree to it, I agreed for a credit report to be pulled. The lender doesn't disclose that they pull a full factual report. If they had, I would have said no thanks

[meljeff1]

Oh so it was specific to that lender?

[Sbrooks1]

And I know what it is, most lenders do not pull a full factual report , as a matter of fact for my mortgage amount , virtually 0 percent chance I would pick the 1 lender that does

[Sbrooks1]

any lender can pull for amounts over 150, but most don't. I have two PA already and they both pulled a regular trimerge with CBC innovis

[Sbrooks1]

I haven't heard back from the loan officer there, maybe it's not a full factual and just shows up as factual data, I will let y'all know

[meljeff1]

Ok keep us posted! But you already have two pre approval right?