Pulling Credit

The Lifecycle Management Suite enables users to request credit reports for each applicant. The Lifecycle Management Suite automatically retains credit reports and stores them at the applicant level. If the current applicant has a previously pulled credit report stored in the Lifecycle Management Suite, it can be recycled for the current application, rather than pulling a new report, if all of the following are true:

The primary applicant's TIN matches the Applicant > TIN field.
The age of the credit report is less than or equal to the number of days to reuse the report, as defined in Account Application Types.

For more information, refer to the Account Application Types topics in the Administrator Guide.

The CreditReportProductId is equal to 001 to indicate an Equifax credit report was pulled, or 005 to indicate an Experian or TransUnion credit report was pulled.

If there are no existing reports within the recycling requirements, the system automatically pulls a new credit report.

When pulling credit, users have the ability to pull the following two types of credit reports:

Type	Description
Single	A credit report that is pulled for individual applicants.
Joint	A credit report that is pulled for joint (married) applicants. In order for a joint credit report to be pulled, applicants must be identified as Married and linked via the Spouse field.

Equifax, Experian, and TransUnion do not support joint inquires for Military Lending Act status searches. To perform MLA searches on multiple applicants, one request must be submitted for each applicant.

There are two methods for pulling credit reports during the application process:

Manually through the Credit Reporting screen
Automatically through Event Processing and Decisioning

Credit reports that are pulled outside of an application via the Credit Report button in the Ribbon are able to be used when processing an application.