Effective September 21, 2018
Consumers will be able to place a freeze on their credit at all consumer credit reporting agencies. They will also be able to remove the freeze as needed.
Are you loan officers aware of the need to ask the applicant during the application process if there is a freeze on their credit? It might be a good time to incorporate that question in the loan officer interview. Eliminate having to call the applicant back when you attempt to pull credit and it is blocked.
There is still a couple months before the freeze capabilities is mandatory for all consumer credit reporting agencies, so you might want to give this some thought before September 21.