Delivering an FCRA Notice

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Question:

Are there any specific delivery requirements for the FCRA Notice to Home Loan Applicant? For instance, does it suffice to make the Notice available through an application portal and not specifically email or mail the notice to the applicant? If it's OK to simply make the Notice available through an application portal, do we need to at least send a communication (i.e., email) to the applicant telling them that a regulatory disclosure is available for their viewing within the portal?

Answer:

FCRA Section 609(g) Disclosure of Credit Scores by Certain Mortgage Lenders

(1) In general. Any person who makes or arranges loans and who uses a consumer credit score, as defined in subsection (f), in connection with an application initiated or sought by a consumer for a closed end loan or the establishment of an open end loan for a consumer purpose that is secured by 1 to 4 units of residential real property (hereafter in this subsection referred to as the “lender”) shall provide the following to the consumer as soon as reasonably practicable:

Since this notice has to be delivered in writing, to deliver it electronically, you would have to comply with the E-Sign requirements.