Soft Credit Setup Process
This overview provides the steps required to enable soft credit reporting for use with DU® early assessment.
Lender works with Credit Information Provider to enable soft credit reporting – either by updating an existing account or creating a new one.
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 Information Provider to ensure they meet all terms and conditions before requesting a soft credit report.
