Credit Rating API?

[rossmcd]

Long time lurker, first time poster (I think)...

I'm developing a real estate site for a client, and they want real-time online credit checks for customers who proceed to sign up for a lease. By credit check, I mean the kind of thing that happens for example when you buy a new PC on credit. If you have very bad rating they may turn you down. I want this functionality on this website.

So some questions if anyone has the time/knowledge:
1. Is this possible?
2. Does anyone know any international/UK companies offering this service or is there an API for it available?
3. I suppose this could not be available to just anyone - what credentials would you need to be able to use it?
4. Any ideas how much this would cost?

Thanks very much in advance...

Ross

[TMB]

Hello,

There are 2 main credit reference agencies in the UK - Experian & Equifax.

Each has a product available for this kind of business depending upon your needs.

It sounds like your client needs risk assessment rather than credit score so try this link to Experian:

http://www.experian.co.uk/business/f...ent/index.html

Equifax also have extensive risk solutions but seem more credit related. You can see details at:

http://www.equifax.co.uk/business_so...valuation.html

Integration is something you'd have to discuss with whichever provider you/your client decides to go with - I don't think there's a standard solution.

Acceptance by either agency is fairly straight forward, your client will have to go through the usual anti fraud checks etc.

It's been a while since we used either firm directly so I wouldn't have any idea about current costs but they are based on a 'per enquiry' format (for example £2.95 per applicant/address searched)

Hope this helps a bit.

[Gus so]

Sounds like a complex site.
When you're done, send me the link and I'll add you to our index.

www.REindex.com
National Exposure for Local Real Estate Listings
(MLS and NON-mls Listings!)
Where buyers are going for real estate!

[dburdon]

Rossmcd,

check out MSN finance on www.msn.co.uk

[Orion]

I'm not too sure in the UK how it works, in North America though Real Estate Agents and Brokers are not allowed to access credit information.

If your client already deals with a credit agency then no problem. Otherwise they would have to set up an account (similar to a merchant account) and each check costs.

I did something similar for a large leasing company in the US a few years back. Once you get to the company and get their API it's not that difficult. They'll tell you what information they need, just create a form to gather, the code to receive the results, and two pages one approved one not approved.

all the best,

[texxs]

Dude! What are ya thinking??? Just because someone has bad credit means they should be homeless? I understand the pressure to please clients really I do. But you gotta draw the line somewhere. and this would be a good place.

How do you think we got out of Vietnam? Because people started refusing to go and refusing to help those involved. If you tell them you won't help them do that because it's a despicable and immoral thing, they may just reconsider.
Also try getting a credit report and/or background check on the people making this request and mention some of their personal info. That's what I do when a landlord says he wants to run a check on me. I say that I've had some pretty shady lanmdlords in the past and don't really want to put my self at risk like that again and I need to asses heir "character and honesty". They change their tune real quick.

Also have you considered the security and privacy issues involved? What are they going to do with info? Who will see it? Is this in writing, is this writing binding? If one of their employees does soemthing bad wioth this info or is gets viewed on their server who do you think the victim is going after? YOU and them!