Pre-Screen:
- Consumer consent is NOT required
- Fico Score or range and no, or limited, credit data is provided
- A firm offer of credit IS required
- Compliance tracking of offer terms and firm offer of letter production ARE required.
- Adverse Action, Risk-based Pricing, etc. ARE required.
Pre-Qualification:
- Consumer consent IS required
- Exact FICO score and all credit report data elements are available
- A firm offer of credit is NOT required
- Compliance tracking of offer terms and firm offer of letter production are NOT required.
- Adverse Action, Risk-based Pricing, etc. are NOT required.
