Investors may not require prospective owners or their brokers to provide proof of identity, proof of employment, financial statements, a credit report, or authorization to obtain a credit report as a condition to bidding on auction, and owners are not encouraged to provide such information. When an owner submits an application and broker creates an auction, IRESE obtains the owner credit report and determines the credit grade, which is displayed in the auction. That is the only credit grade relevant to investors placing bids on IRESE. In addition, if applicable, the broker collects all the required information for an auction.