Credit Score Disclosure Notice Requirement

Answered by:

Question:

We do not price consumer loans based on risk, and thus, we are not required to provide the risk based pricing notice. Are we required to continue to provide the credit score disclosure notice on loans secured by 1-4 family residential real property as stipulated under Section 1681g?

Answer:

If you are referring to the notice to the home loan applicant, the answer is yes.

First published on BankersOnline.com 8/1/11