Background: As part of our ongoing effort to protect homeowners and prevent fraud, 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.
FAQ:
If the Homeowner doesn’t feel comfortable providing their social security number, what can I do? |
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If the Homeowner doesn’t feel comfortable providing their social security number, what can I do? |
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The homeowner should always complete the credit application themselves. If you are walking the homeowner through the application process, make sure to give them privacy to complete the credit application fields and read/agree to the consents. Please reassure the homeowner that you, as the installer, will not have access to their sensitive information, but that their social security number is required by EverBright to run credit and qualify them for financing.
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Why are you making the Social Security Number Field Mandatory? |
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Why are you making the Social Security Number Field Mandatory? |
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Requiring a social security number will ensure that credit is run for the correct person applying for EverBright financing. This will prevent credit being run accidentally for someone with the same name as the applicant. Additionally, a social security number is required by our new billing service provider and to perform collections.
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What if the Homeowner does not have a Social Security Number (SSN)? |
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What if the Homeowner does not have a Social Security Number (SSN)? |
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A social security number or ITIN will be mandatory to qualify a homeowner for EverBright financing. Unfortunately, if the homeowner doesn’t have a social security number or ITIN, they can try to find financing elsewhere or pay cash.
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Does using the Social Security Number mean you are now doing a Hard Credit Check? |
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Does using the Social Security Number mean you are now doing a Hard Credit Check? |
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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.
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Co-Signer/Co-Applicant Requirements