I have a secured mortgage with a private mortgage holder. Does the mortgage holder have the right to pull my credit at any time (even years after I closed) in order to make sure I am still credit worthy? I did sign an authorization to pull credit.

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Originally Posted by staceybar

I have a secured mortgage with a private mortgage holder. Does the mortgage holder have the right to pull my credit at any time (even years after I closed) in order to make sure I am still credit worthy? I did sign an authorization to pull credit.

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If you signed an authorization, yes, they can.

I don't know why they would even bother getting an updated credit report - as long as you make the scheduled payments to them I don't see your credit should matter unless there is some clause in your mortgage that protects them in the event they see your finances begin to slide, and I have seen this in private mortgages.