The clock starts ticking as soon as a Mortgage Broker in Columbia SC has them. Let's talk about those six facts because the credit report is not one of those six pieces of information and the credit report is not the trigger. What it triggers is receiving six pieces of data. These include, first of all, the consumer's name, the consumer's income, and the consumer's social security number to obtain a credit report. So, once you have the social security number, that's the data that triggers this point. It's not about getting the credit report, it's about getting the social security number so you can get a credit report.
In addition, the six data includes the address of the property and an estimate of the value of the property and the amount of the mortgage loan requested. These are the six facts. When you receive these six pieces of information, you'll start working to provide a loan estimate. This request is considered a Regulation Z application for mortgage loans, subject to the TRID. Therefore, it's important to understand that it's not about anything else, it's these six facts.
