1,056,432
I don't believe it's appropriate to request that level of information with an offer. Our lender pre-qual says that they've run a tri merged credit report, checked income assets and employment. Are buyers falling out due to credit issues in your area? Are the lenders not doing their job?
-
Susie Kay
Plano, TX
-
Annette Lawrence , Pal...
Palm Harbor, FL
-
Doug Dawes
Topsfield, MA
-
Olga Simoncelli
New Fairfield, CT
-
Kat Palmiotti
Kalispell, MT
-
Eve Alexander
Tampa, FL
-
Debe Maxwell, CRS
Charlotte, NC
-
Bob "RealMan" Timm
Minot, ND
-
Fred Griffin Florida R...
Tallahassee, FL
-
Michael Jacobs
Pasadena, CA
-
John Juarez
Fremont, CA
-
Nina Hollander, Broker
Charlotte, NC
-
Ron and Alexandra Seigel
Carpinteria, CA
-
Pete Xavier
Pacific Palisades, CA
-
Jeff Dowler, CRS
Carlsbad, CA
-
Chris Ann Cleland
Gainesville, VA
1,847,041
I would say that's a no with a big privacy flag on it. It is the lenders duty to determine that & preapprove the buyer or not. Should have nothing to do with a seller at this point.
I will say that with rentals we do this & state good credit required.
-
Susie Kay
Plano, TX
-
Diana Zaccaro Broker A...
Cocoa Beach, FL
-
Annette Lawrence , Pal...
Palm Harbor, FL
-
Doug Dawes
Topsfield, MA
-
Olga Simoncelli
New Fairfield, CT
-
Debe Maxwell, CRS
Charlotte, NC
-
Bob "RealMan" Timm
Minot, ND
-
Fred Griffin Florida R...
Tallahassee, FL
-
Michael Jacobs
Pasadena, CA
-
John Juarez
Fremont, CA
-
Nina Hollander, Broker
Charlotte, NC
-
Ron and Alexandra Seigel
Carpinteria, CA
-
Chris Ann Cleland
Gainesville, VA
-
Candice A. Donofrio
Fort Mohave, AZ
-
Pete Xavier
Pacific Palisades, CA
-
Jeff Dowler, CRS
Carlsbad, CA
1,553,583
Yes, it's annoying because that's what a pre-approval is for.
I sumbit my offer without and tell them to contact my lender (Jason) if they need more info. The pre-approval eliminates the need for FICO given the pre-approvals are pre-underwritten with Jason E. Gordon, more or less a D.U.
-
Jason E. Gordon
San Diego, CA
-
Annette Lawrence , Pal...
Palm Harbor, FL
-
Doug Dawes
Topsfield, MA
-
Kat Palmiotti
Kalispell, MT
-
Debe Maxwell, CRS
Charlotte, NC
-
John Juarez
Fremont, CA
-
Fred Griffin Florida R...
Tallahassee, FL
-
Michael Jacobs
Pasadena, CA
-
Ryan Huggins - Thousan...
Thousand Oaks, CA
-
Nina Hollander, Broker
Charlotte, NC
-
Pete Xavier
Pacific Palisades, CA
-
Ron and Alexandra Seigel
Carpinteria, CA
-
Thomas J. Nelson, REAL...
La Jolla, CA
5,772,587
They can ask whatever they want, and I would not give it to them. This is a violation of one's privacy! It is between the lender and the buyer..A
-
Susie Kay
Plano, TX
-
Annette Lawrence , Pal...
Palm Harbor, FL
-
Doug Dawes
Topsfield, MA
-
Olga Simoncelli
New Fairfield, CT
-
Margaret Rome Baltimor...
Pikesville, MD
-
Jeff Dowler, CRS
Carlsbad, CA
-
John Juarez
Fremont, CA
-
Bob "RealMan" Timm
Minot, ND
-
Fred Griffin Florida R...
Tallahassee, FL
-
Michael Jacobs
Pasadena, CA
-
Nina Hollander, Broker
Charlotte, NC
-
Pete Xavier
Pacific Palisades, CA
3,589,741
We have a pretty definitive pre-qual form in AZ that spells out the buyers financial picture well (if it's done well by a good lender). As for requesting FICO's I don't think that's a smart idea. Let us know what happens from that action....should be interesting.
-
Susie Kay
Plano, TX
-
Annette Lawrence , Pal...
Palm Harbor, FL
-
Doug Dawes
Topsfield, MA
-
Debe Maxwell, CRS
Charlotte, NC
-
Jeff Dowler, CRS
Carlsbad, CA
-
John Juarez
Fremont, CA
-
Bob "RealMan" Timm
Minot, ND
-
Fred Griffin Florida R...
Tallahassee, FL
-
Michael Jacobs
Pasadena, CA
-
Nina Hollander, Broker
Charlotte, NC
-
Pete Xavier
Pacific Palisades, CA
-
Ron and Alexandra Seigel
Carpinteria, CA
3,383,384
I don't see where this would be relevant if someone has cash or has been pre-approved for a mortgage.
In a lease situation, it is a different ballgame though. Then the credit history/score, as well as criminal background check, are telling to how you will treat their property, or be responsible in terms of paying for rent and upkeep.
-
Susie Kay
Plano, TX
-
Diana Zaccaro Broker A...
Cocoa Beach, FL
-
Annette Lawrence , Pal...
Palm Harbor, FL
-
Doug Dawes
Topsfield, MA
-
Debe Maxwell, CRS
Charlotte, NC
-
John Juarez
Fremont, CA
-
Bob "RealMan" Timm
Minot, ND
-
Fred Griffin Florida R...
Tallahassee, FL
-
Michael Jacobs
Pasadena, CA
-
Nina Hollander, Broker
Charlotte, NC
-
Ron and Alexandra Seigel
Carpinteria, CA
-
Pete Xavier
Pacific Palisades, CA
135,824
I haven't and they aren't getting it from me
-
Susie Kay
Plano, TX
-
Annette Lawrence , Pal...
Palm Harbor, FL
-
Doug Dawes
Topsfield, MA
-
Eve Alexander
Tampa, FL
-
John Juarez
Fremont, CA
-
Bob "RealMan" Timm
Minot, ND
-
Fred Griffin Florida R...
Tallahassee, FL
-
Michael Jacobs
Pasadena, CA
-
Nina Hollander, Broker
Charlotte, NC
-
Pete Xavier
Pacific Palisades, CA
-
Ron and Alexandra Seigel
Carpinteria, CA
956,252
Just on lease listings in my experience.
-
Susie Kay
Plano, TX
-
Diana Zaccaro Broker A...
Cocoa Beach, FL
-
Annette Lawrence , Pal...
Palm Harbor, FL
-
Doug Dawes
Topsfield, MA
-
Debe Maxwell, CRS
Charlotte, NC
-
John Juarez
Fremont, CA
-
Bob "RealMan" Timm
Minot, ND
-
Fred Griffin Florida R...
Tallahassee, FL
-
Michael Jacobs
Pasadena, CA
-
Nina Hollander, Broker
Charlotte, NC
-
Sharon Altier
Elmhurst, IL
7,864,136
Interesting. I have not yet seen this.
-
Susie Kay
Plano, TX
-
Annette Lawrence , Pal...
Palm Harbor, FL
-
Doug Dawes
Topsfield, MA
-
Debe Maxwell, CRS
Charlotte, NC
-
John Juarez
Fremont, CA
-
Bob "RealMan" Timm
Minot, ND
-
Fred Griffin Florida R...
Tallahassee, FL
-
Michael Jacobs
Pasadena, CA
-
Nina Hollander, Broker
Charlotte, NC
-
Ron and Alexandra Seigel
Carpinteria, CA
-
Pete Xavier
Pacific Palisades, CA
617,935
I’ll find a Unicorn before this happens but it would be nice to have a federal pre-approval form that clearly spelled out what due diligence a lender had done and if the prospective buyer had an automated or manual approval.
But back to the real world.
Asking for FICO scores.
Does the seller / listing agent realize how many different versions of FICO there are and that there are other scoring systems besides FICO.
Some attorney is bound to make this a Fair Housing issue or worse.
-
Susie Kay
Plano, TX
-
Diana Zaccaro Broker A...
Cocoa Beach, FL
-
Annette Lawrence , Pal...
Palm Harbor, FL
-
Doug Dawes
Topsfield, MA
-
Bob "RealMan" Timm
Minot, ND
-
Fred Griffin Florida R...
Tallahassee, FL
-
Michael Jacobs
Pasadena, CA
-
Debe Maxwell, CRS
Charlotte, NC
-
Pete Xavier
Pacific Palisades, CA
2,684,569
Absolutely none of your business. If my pre-approval or POF is not sufficient, you may keep your precious house.
-
Susie Kay
Plano, TX
-
Diana Zaccaro Broker A...
Cocoa Beach, FL
-
Annette Lawrence , Pal...
Palm Harbor, FL
-
Doug Dawes
Topsfield, MA
-
Michael Jacobs
Pasadena, CA
-
Eve Alexander
Tampa, FL
-
Debe Maxwell, CRS
Charlotte, NC
-
Pete Xavier
Pacific Palisades, CA
-
Bob "RealMan" Timm
Minot, ND
5,112,896
First I heard of it... if an offer comes with a solid pre-approval it's not of the seller's business what the FICO score of the buyer is.
-
Susie Kay
Plano, TX
-
Diana Zaccaro Broker A...
Cocoa Beach, FL
-
Annette Lawrence , Pal...
Palm Harbor, FL
-
Doug Dawes
Topsfield, MA
-
Fred Griffin Florida R...
Tallahassee, FL
-
John Juarez
Fremont, CA
-
Bob "RealMan" Timm
Minot, ND
-
Michael Jacobs
Pasadena, CA
-
Pete Xavier
Pacific Palisades, CA
5,583,328
well, in this extreme seller's market, the seller might get away with that..... a pre-approval letter would reflect that a credit report was secured and qualified for a mortgage...
on the other hand, if one has good credit, credit scores should be given in good faith.... if I were buying, I'd produce that.... if there's an issue that could be explained and a letter would be acceptable, one might pass on buying that house rather than share the FICO score .....
-
Susie Kay
Plano, TX
-
Annette Lawrence , Pal...
Palm Harbor, FL
-
Doug Dawes
Topsfield, MA
-
Debe Maxwell, CRS
Charlotte, NC
-
John Juarez
Fremont, CA
-
Bob "RealMan" Timm
Minot, ND
-
Michael Jacobs
Pasadena, CA
-
Nina Hollander, Broker
Charlotte, NC
-
Pete Xavier
Pacific Palisades, CA
921,504
I would respond "Is the seller offering to finance the purchase of this house?"
-
Susie Kay
Plano, TX
-
Diana Zaccaro Broker A...
Cocoa Beach, FL
-
Pete Xavier
Pacific Palisades, CA
-
Annette Lawrence , Pal...
Palm Harbor, FL
-
Doug Dawes
Topsfield, MA
-
Bob "RealMan" Timm
Minot, ND
-
Fred Griffin Florida R...
Tallahassee, FL
-
Michael Jacobs
Pasadena, CA
613,494
Forcing me to disclose confidential information about my buyer client is interfering in my agency relationship.
That is no different than if our offer asked for the seller to disclose how much money they are going to net from the sale.
Besisdes, FICO's do not show the full picture of how qualified someone is.
Eve
-
Susie Kay
Plano, TX
-
Diana Zaccaro Broker A...
Cocoa Beach, FL
-
Pete Xavier
Pacific Palisades, CA
-
Annette Lawrence , Pal...
Palm Harbor, FL
-
Doug Dawes
Topsfield, MA
-
Bob "RealMan" Timm
Minot, ND
-
Fred Griffin Florida R...
Tallahassee, FL
-
Michael Jacobs
Pasadena, CA
5,254,655
No and I'm not sure we CAN do that. I would check with the CA REC.
-
Susie Kay
Plano, TX
-
Diana Zaccaro Broker A...
Cocoa Beach, FL
-
Annette Lawrence , Pal...
Palm Harbor, FL
-
Doug Dawes
Topsfield, MA
-
Bob "RealMan" Timm
Minot, ND
-
Fred Griffin Florida R...
Tallahassee, FL
-
Michael Jacobs
Pasadena, CA
-
Pete Xavier
Pacific Palisades, CA
3,863,492
I have not seen that yet!
-
Susie Kay
Plano, TX
-
Annette Lawrence , Pal...
Palm Harbor, FL
-
Doug Dawes
Topsfield, MA
-
Bob "RealMan" Timm
Minot, ND
-
Fred Griffin Florida R...
Tallahassee, FL
-
Michael Jacobs
Pasadena, CA
-
Debe Maxwell, CRS
Charlotte, NC
-
Pete Xavier
Pacific Palisades, CA
1,092,947
I haven't seen this yet and hope I never do. There is no reason for such a request and if a buyer has a pre-approval from a local lender or POF for cash purchase, it makes no sense whatsoever.
It reminds me of the notes that buyer must be preapproved by seller's lender...never understood the logic of that, either...a preapproval is a preapproval.
I'd say that LA is skating on very thin ice.
-
Susie Kay
Plano, TX
-
Annette Lawrence , Pal...
Palm Harbor, FL
-
Doug Dawes
Topsfield, MA
-
Fred Griffin Florida R...
Tallahassee, FL
-
Michael Jacobs
Pasadena, CA
-
Eve Alexander
Tampa, FL
-
Debe Maxwell, CRS
Charlotte, NC
-
Pete Xavier
Pacific Palisades, CA
3,139,040
Yes, for assurance purposes. While it is the buyer's responsibility to ensure they can perform, the seller needs to know they are capable. Otherwise they can rent until they qualify. Not the time to figure that out once the offer has been submitted!
-
Bob "RealMan" Timm
Minot, ND
-
Susie Kay
Plano, TX
-
Annette Lawrence , Pal...
Palm Harbor, FL
-
Doug Dawes
Topsfield, MA
-
Michael Jacobs
Pasadena, CA
-
Debe Maxwell, CRS
Charlotte, NC
-
Pete Xavier
Pacific Palisades, CA
-
Wanda Kubat-Nerdin - W...
St. George, UT
2,400,414
The first I had heard of this was a question right here about a month ago Jeff Dowler, CRS . I never worked with a seller who thought this way and I'm glad for that.
-
Susie Kay
Plano, TX
-
Annette Lawrence , Pal...
Palm Harbor, FL
-
Doug Dawes
Topsfield, MA
-
Fred Griffin Florida R...
Tallahassee, FL
-
Michael Jacobs
Pasadena, CA
-
Debe Maxwell, CRS
Charlotte, NC
-
Pete Xavier
Pacific Palisades, CA
-
Wanda Kubat-Nerdin - W...
St. George, UT
913,568
Nope. I doubt if that bs policy catches on.
-
Susie Kay
Plano, TX
-
Annette Lawrence , Pal...
Palm Harbor, FL
-
Doug Dawes
Topsfield, MA
-
Fred Griffin Florida R...
Tallahassee, FL
-
Michael Jacobs
Pasadena, CA
-
Debe Maxwell, CRS
Charlotte, NC
-
Pete Xavier
Pacific Palisades, CA
-
Bob "RealMan" Timm
Minot, ND
4,582,434
Over the years, I have seen lots of requests for information that matters as well as carries no value. It's the whim of the listing agent, a seller who knows "best", a combination of the two as well as for seemingly no reason at all. Pure folly and plenty of frustration at times. Some times it's a game one must play in order to "win".
-
Susie Kay
Plano, TX
-
Diana Zaccaro Broker A...
Cocoa Beach, FL
-
Annette Lawrence , Pal...
Palm Harbor, FL
-
Doug Dawes
Topsfield, MA
-
Debe Maxwell, CRS
Charlotte, NC
-
Pete Xavier
Pacific Palisades, CA
-
Bob "RealMan" Timm
Minot, ND
-
Fred Griffin Florida R...
Tallahassee, FL
1,506,163
Only on rentals. Never on purchases.
-
Diana Zaccaro Broker A...
Cocoa Beach, FL
-
Annette Lawrence , Pal...
Palm Harbor, FL
-
Doug Dawes
Topsfield, MA
-
Debe Maxwell, CRS
Charlotte, NC
-
Pete Xavier
Pacific Palisades, CA
-
Bob "RealMan" Timm
Minot, ND
-
Fred Griffin Florida R...
Tallahassee, FL
-
Michael Jacobs
Pasadena, CA
1,323,219
If the listing agent cannot be satified with the loan approval letter that is provided to me and which I provide to the agent, that agent is standing between my client and their's coming together on the transaction.
-
Susie Kay
Plano, TX
-
Annette Lawrence , Pal...
Palm Harbor, FL
-
Doug Dawes
Topsfield, MA
-
Debe Maxwell, CRS
Charlotte, NC
-
Pete Xavier
Pacific Palisades, CA
-
Bob "RealMan" Timm
Minot, ND
-
Fred Griffin Florida R...
Tallahassee, FL
-
Michael Jacobs
Pasadena, CA
6,418,429
They are taking a risk when taking off the market, I can understand them wanting to have a little reinforcement of the pre approval that is submitted.
Up to the buyer to decide how much they want the home.
-
Bob Crane
Stevens Point, WI
-
Annette Lawrence , Pal...
Palm Harbor, FL
-
Doug Dawes
Topsfield, MA
-
Bob "RealMan" Timm
Minot, ND
-
Michael Jacobs
Pasadena, CA
-
Debe Maxwell, CRS
Charlotte, NC
-
Pete Xavier
Pacific Palisades, CA
1,201,612
I haven't seen that yet. None of the Seller's business what a potential Buyer's FICO score is.
-
Susie Kay
Plano, TX
-
Diana Zaccaro Broker A...
Cocoa Beach, FL
-
Pete Xavier
Pacific Palisades, CA
-
Annette Lawrence , Pal...
Palm Harbor, FL
-
Bob "RealMan" Timm
Minot, ND
-
Doug Dawes
Topsfield, MA
469,510
Not a fan. An underwritten pre-approval letter with the loan officers name and phone number on it (which any legit letter will have) is all that is needed.
-
Susie Kay
Plano, TX
-
Pete Xavier
Pacific Palisades, CA
-
Annette Lawrence , Pal...
Palm Harbor, FL
-
Doug Dawes
Topsfield, MA
-
Bob "RealMan" Timm
Minot, ND
-
Fred Griffin Florida R...
Tallahassee, FL
5,240,010
They are not a source for funding, so they need not know!
-
Susie Kay
Plano, TX
-
Pete Xavier
Pacific Palisades, CA
-
Annette Lawrence , Pal...
Palm Harbor, FL
-
Doug Dawes
Topsfield, MA
-
Bob "RealMan" Timm
Minot, ND
-
Fred Griffin Florida R...
Tallahassee, FL
3,416,038
I have not seen that and wonder how legal it is. Due to privacy laws that is a huge risk. Just as well fico is not all that is looked at to get a mortgage. I like a pre approval from a local and trusted bank which works for me. I dont mind calling loan officers to ask how far along they are qualified, did the loan officer meet them? have they just been qualified or really pre approved?
-
Pete Xavier
Pacific Palisades, CA
-
Annette Lawrence , Pal...
Palm Harbor, FL
-
Doug Dawes
Topsfield, MA
-
Bob "RealMan" Timm
Minot, ND
-
Fred Griffin Florida R...
Tallahassee, FL
-
Michael Jacobs
Pasadena, CA
902,038
Have not seen that. Isn't it a bit of a privacy issue?
-
Pete Xavier
Pacific Palisades, CA
-
Annette Lawrence , Pal...
Palm Harbor, FL
-
Doug Dawes
Topsfield, MA
-
Bob "RealMan" Timm
Minot, ND
-
Fred Griffin Florida R...
Tallahassee, FL
-
Michael Jacobs
Pasadena, CA
2,456,854
I have not seen that yet. That's not a data point we, as our buyer's agent, should share. And there are a lot of pieces of information that go into a solid pre-approval. So a lower than stellar credit score could be meaningless.
-
Pete Xavier
Pacific Palisades, CA
-
Annette Lawrence , Pal...
Palm Harbor, FL
-
Doug Dawes
Topsfield, MA
-
Bob "RealMan" Timm
Minot, ND
-
Fred Griffin Florida R...
Tallahassee, FL
-
Michael Jacobs
Pasadena, CA
1,206,371
Interesting but no, have not seen that yet...
-
Pete Xavier
Pacific Palisades, CA
-
Annette Lawrence , Pal...
Palm Harbor, FL
-
Doug Dawes
Topsfield, MA
-
Bob "RealMan" Timm
Minot, ND
-
Fred Griffin Florida R...
Tallahassee, FL
-
Michael Jacobs
Pasadena, CA
2,784,716
I have often seen systems and qualifiers as well as eliminators designed to weed-out and or identify those that are serious and can play vs those that cannot. If someone says: do all this and we consider doing business...you do!
-
Pete Xavier
Pacific Palisades, CA
-
Annette Lawrence , Pal...
Palm Harbor, FL
-
Doug Dawes
Topsfield, MA
-
Bob "RealMan" Timm
Minot, ND
509,449
I've never seen that. I would let the listing agent call the lender personally.
-
Pete Xavier
Pacific Palisades, CA
-
Bob "RealMan" Timm
Minot, ND
-
Susie Kay
Plano, TX
636,327
My pre-approval letters always include credit scores from all 3 credit bureaus because it has been requested so many times over the years. In actuality, the scores are not really the issue (as we can have DU/LP approvals with low credit scores on any given borrower...it doesn't make them any less able/likley to perform). In fact, for lower scores, I've left them off the Pre-Approval Letter and simply included a supporting image of our DU approval (with the hope that the low scores didn't interfere with our offer strategy).
-
Bob "RealMan" Timm
Minot, ND
-
Susie Kay
Plano, TX
-
Pete Xavier
Pacific Palisades, CA
420,003
In california someone would sue over that... and probably win. In order to release someone's FICO I need them to sign a release. How would the listing agent be able to verify anyways? Seems like a sticky mess
-
Bob "RealMan" Timm
Minot, ND
-
Susie Kay
Plano, TX
-
Pete Xavier
Pacific Palisades, CA
2,071,506
I have not seen that request in our marketplace... at least not yet.
They can always "ask" whatever they want... right?
-
Bob "RealMan" Timm
Minot, ND
-
Pete Xavier
Pacific Palisades, CA
876,436
I have not heard of it around here. I would never do that and I am not so sure it is not a violation of privacy laws. I tell my buyers and sellers that I will always let them know red flags when I see them.
This particular agent and his/her listings would be red flag warnings.