07/01/2005
05/16/2005
Are you required to report all loans to a credit bureau? If you are reporting to a credit bureau are you required to report all loans?
02/07/2005
A customer requested a copy of his credit report and we told him he had to call the credit bureau to request a copy. He said another area bank gave him a copy. Are we allowed to give consumers a copy of their credit reports now? Did something change that I didn't catch?
01/17/2005
If we deny a mortgage loan because the collateral is not acceptable for a second lien, does the credit bureau information need to be included?
01/01/2005
It is talked about in many contexts. It is a term tossed about without clear definition. It engenders fear and caution among lenders. It raises compliance concerns.
10/04/2004
How much information can a bank representative discuss with a loan applicant regarding their credit report without any lending regulations? I've heard everything from "nothing" to all but providing a copy to the applicant.
10/04/2004
Can you take applications for loans over the phone and pull credit? If the customer never comes in and the request is denied, what do you do with the application that has not been signed by the customer that gives you permission to pull credit?
09/01/2004
Question: We are looking at FACT Act notices and trying to minimize the number of pieces of paper that we have to send to customers.
08/16/2004
If a lender takes only basic inquiry information so it can review a credit bureau report, and later takes an application for a mortgage loan, is the date of application the date we pulled the credit report, or the date we got the complete application?
08/01/2004
During the next six to ten months, the FACT Act provisions will continue to take effect.