What is an Onsite Inspection?

What is an Onsite Inspection?

If your company is looking to get access to TransUnion, Equifax, and Experian data, your company will need to pass what is called an Onsite Inspection. An onsite inspection is required by the Fair Credit Reporting act, and the only business types that do not require them are FDIC insured banks and Franchise Auto Dealerships. The main purpose of the Onsite Inspection is to verify that your company has the security to handle and process sensitive information (the credit reports).

During the Onsite inspection, is where a representative will come to you office and verify your office is secure, and is pulling the credit reports for the purpose your company has claimed. For example, if your company claims to be a Mortgage Lender, and the onsite inspector comes to your office and there is no evidence that you're in the business of selling mortgage loans, that would be an issue. Further, let's assume the site inspector gets to your office and your office in fact shares space with a private investigator firm, that would also be a red flag and you would not pass the inspection. 

So what is the inspector looking for? It's pretty simple:

  1. Evidence that your company does what you say you do (e,g. a company sign on the wall, brochures, business cards, etc.)
  2. You have a secure network and your Wi-Fi is password protected and not open
  3. You have a paper shredder to destroy the credit reports you print
  4. You have a filing cabinet with a lock on it to store the credit reports you print
  5. Your company does not share space with any other company 

What would cause you to fail an onsite inspection? Here are some examples:

  1. Your company does not have a dedicated office (you have a virtual office and no actual space like a WeWorks or Regus with no suite)
  2. You share space 
  3. You do not have the means to store credit and destroy printed credit reports
  4. You do not have a sign or promotional materials
  5. When your phone rings another company answers it or it is a personal phone

How long to Onsite Inspection Take?

Anywhere for 5-15 minutes. A representative from the onsite inspection company Trend Source will call you on your work phone to set up a time that works for you. The authorized signer of the company does not need to be there, however there does need to be a dedicated person the inspector should expect. 

Attached are two sample onsite inspection, one that passes and one that fails. Feel free to check it out!

To view the iSpoftpull Onsite Inspection Policy, feel free to read this article: Onsite Inspection Policy

To get set up with iSoftpull and schedule your onsite inspection, please email us at support@isoftpull.com or call us at 760-579-6171. We are open from 8am-4:30pm PT.

Ready to Get Started?
Need Assistance?
Submit a Ticket or Call Us at (760) 579-6171
Access Your Account

(760) 579-6171
2270 Camino Vida Roble, Ste. i
Carlsbad, CA 92011

iSoftpull® 2023  © All rights reserved

    • Related Articles

    • Who does the onsite inspection?

      iSoftpull contracts all onsite inspections through TrendSource. iSoftpull will order your onsite inspection and a representative with TrendSource will reach out to you to schedule your inspection. Ready to Get Started? View Pricing & Pick Your Plan ...
    • Onsite Inspection Policy

      An on-site inspection must be performed at the principal place of business of all End Users, except as set forth below. The purpose of the inspection is to ensure that the End User’s business facility is commensurate with the size and purported type ...
    • What do you look for when conducting an onsite inspection?

      Onsite inspections are conducted to confirm your primary business address is fitted to safely store credit data. Inspectors are primarily looking for signage with your company name on it, a locking door, and a locking filing cabinet. Ready to Get ...
    • Onboarding Mode and Account Set Up

      As soon as you have completed your end user agreements and we have ordered your onsite inspection, you will be given access to the platform in our "Onboarding Mode". You will know if your are in onboarding mode because there is a green banner across ...
    • Is a physical office inspection necessary?

      Yes. However, there are a couple of exceptions, franchise automotive dealerships and FDIC or NCUA insured entities. Ready to Get Started? View Pricing & Pick Your Plan Need Assistance? Submit a Ticket or Call Us at (760) 579-6171 Access Your Account ...