FACTA - Sign & Date the Disclosure?

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Question:

Does the FACTA (Notice to Home Loan Applicants) disclosure require the customer to sign and date that they received it? The disclosure that is part of the credit report has a line on acknowledgment asking to sign and date.

Answer:

There is no signature or retention requirement for this disclosure. You simply need to demonstrate a system of providing it when applicable.

First published on BankersOnline.com 2/22/10