Question for Marv

[hrguy]

What is a "Multiple Bureau Option" for approval?

[MarvBear]

It's not a term, with which I am familiar. If it is consumer language, can you put it into context for me?

[hrguy]

I was told it is essentially calling in a favor to a lender. On my recent lease I had TU pulled by TFS, I was told that by default no matter the state, they tend to use EX exclusively, and that if I had TU pulled for the approval it basically had to be a favor called in, and he called it a Multiple Bureau Option.

[MarvBear]

I call that bureau surfing.

 

Some lenders will only use the bureau their systems sets for your zip code, They need to over-ride in order to pull another bureau. I will usually ask a favored lender to do that, if I feel there is sufficient reason. The credit analyst we deal with have to note any exceptions they make to corporate policy for an explanation.

 

I would call that "dealer accommodation", as I have heard many of my analysts call it in the past.

[hrguy]

Thanks Marv.

[Allisson0605]

Just figured out who Marv is and what this app for Marv is .

 

Been reading this board for almost three years , every day I learn something new.

Amazing.

[MarvBear]

Marv is a bear. All nice an pretty furry white.