This issue is still being resolved I believe.A L/O that is with an occupant and where rental credits are applied is a financing agreement, you need to follow Dodd-Frank and Predatory Lender Laws with consumers (your tenants). 

Not to bad.  

I am all for not collecting them to reduce liability and making the credit check a soft inquiry so it doesn't hurt the applicant but if you collect the SSN when signing the lease how do you verify that it is their actually SSN and not just a made up number?

I'm not really involved in that aspect of it, so I'd hesitate to endorse any particular company because I can't actually speak to how good/bad any particular company is.Google searching "Loan Servicing TitleCompanyName" is a place to start. 

I am looking for responses from people that has used credit unions in the Chicagoland area and surrounding suburbs for HELOCS.

Was the process of acquiring the property a bad experience or has it been bad since you have bought it? 

None of the three met my criteria (one failing on credit, income AND background), one lied about income, and one couldn't prove income.  

If it is occupied with a bad tenant, then I could get a discount, but I want them out before COE and specify such in the contract.

Risky business if the soil reports turn out bad!

I'm bringing the 20% cash down but no credit rating /external cash flow and they are bringing a credit rating and full time job - ie the loan.