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Note

Effective Date: June 24th, 2024

Background: As part of our ongoing effort to protect homeowners and prevent fraud, beginning Since June 24th 2024, the Social Security number field in the Credit Application must be filled out with a valid Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN) for applicants and Co-Applicants.

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Does using the Social Security Number mean you are now doing a Hard Credit Check?

  • No, nothing is changing regarding the type of credit check we are performing. This will still be a soft credit check to qualify for all products. Note: The soft credit check will convert to a hard credit pull for EverOwn products only at least 30 days after the agreement is signed and M1 is approved. All Credit checks are initially Soft Inquiries. They will become a Hard Inquiry 30 days after the contract is executed and M1 is approved

⭕ If the Credit is Checked today and M1 is approved on the same day , the Hard inquiry will not occur until the 30-day mark

⭕If M1 is approved more than 30 days after the credit application is run, the Hard Inquiry will occur once M1 is approved

The Hard Inquiry will only be made once M1 is approved, NOT before

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Everbright PPA - (Credit Qualifications & Title Requirements)