Soft Credit Setup Process
This overview provides the steps required to set up a soft credit account to use as part of DU® early assessment.
Lender signs contract with Credit Information Provider to obtain credit reports
Credit Information Provider requests account code for Lender from Credit Bureau(s)
Credit Bureau provides account code to Credit Information Provider
Credit Information Provider gives account code to Credit Sponsor
Credit Sponsor sets up an account and confirms with the Credit Information Provider
Credit Information Provider confirms proper account setup and notifies Lender when credit reports are ready for soft pull credit files with DU
Fannie Mae confirms credit account setup and activates early assessment in DU
Lender tests and confirms that early assessment feature is ready for DU casefile submissions
Lenders should work with their credit reporting agency to ensure they meet all terms and conditions prior to requesting a soft pull credit report.
