Consumer complaint received 2021-08-24
Product: Credit reporting, credit repair services, or other personal consumer reports — Credit reporting
Issue: Incorrect information on your report — Account information incorrect
Company: Credit Plus Inc (UT)

I submitted a home loan application through XXXX XXXX XXXX who used a third party reseller Credit Plus Inc to obtain my credit information. This complaint is about Credit Plus Inc and not XXXX XXXX XXXX. I have no issue or concern with XXXX XXXX XXXX. 

During the loan processing " Credit Plus Inc '' calls me and proceeds to tell me that I need to call my bank input my account number, and PIN and then let " Credit Plus Inc '' talk on behalf of me to obtain personal financial information in order to fix, update or correct my credit report. I deny this request and the customer service representative from Credit Plus Inc explains that Credit Plus can not obtain any updated information from my bank without me calling and getting this financial information with them on the phone i.e he uses this term a " conference call '' where the Credit Plus Inc customer service representative speaks on behalf of me to update the need credit information. If I do not allow this " conference call '' and verify this information that my loan will be denied by the underwriter at XXXX XXXX XXXX. 

I immediately call XXXX XXXX XXXX  and ask if they know who Credit Plus Inc is and if this is a common practice. XXXX XXXX XXXX  says yes, that they use XXXX XXXX but that XXXX XXXX has ways of validating this information through verification of deposit, and that they haven't heard of them contacting the customer. 

I also call XXXX XXXX XXXX XXXX ( XXXX ) or the bank in question by Credit Plus Inc, and ask if this is a common practice in the mortgage industry. XXXX informs me that it is not common, nor is it safe and acceptable. That professional financial institutions and authorized credit resellers have methods of obtaining this information through verification with the lender in question. That mortgage lenders use a POD to verify there's sufficient funds to pay the down payment and closing costs for a property, or to verify any concerns or updates to a person 's financial information. 

XXXX XXXX XXXX XXXX informs me that their institution will not provide any information over the phone to a third party credit resellers. That " verbal validation '' or a conference call method is not a best practice, common practice, or even a safe practice within the mortgage industry. Verbal validation or this conference call is never acceptable for credit updates, loan processing or underwriter 's approval. In order to update a credit report or process a loan there needs to be a paper trail or POD through verification. That all three credit bureaus require a letter, back by financial information in order to update or correct any information. That it is the third party reseller 's responsibility to make sure the service that they are providing is accurate and complete. The reason they are in business is to provide mortgage companies with accurate and complete information. 

My credit union 's suggestion was to tell " Credit Plus Inc '' to follow the already in place methods and work with XXXX XXXX XXXX. Also to supply any required documentation needed i.e bank statements, payoff letters, and or title documentation to my lenders only and never to give anything to a third party or credit reseller. 

Credit Plus Inc is pulling credit, providing a service to lenders that is inaccurate and not complete ; and practicing unsafe methods in order to obtain, repair, and correct credit information and reports. 

A consumer should never provide personal or financial information over the phone to a third-party, nor should verbal validation or a " conference call '' be a prudent form of verifying the accuracy of a credit report, or even updating it.