Answer:
How does the officer have a permissible purpose to obtain a credit report if they do not have an application for credit?
First published on BankersOnline.com 2/09/09
Timing of GFE
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Question:
If a loan officer generates a credit report for a potential applicant, is a Good Faith Estimate required to be provided? It is my understanding that a Good Faith Estimate is required at the time of application or within 3 business days of receipt of an application. Please clarify this for me.
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