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Form to Gather Mortgage Info (Not Report to CB)

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Question: 
Is there specific compliance guidance around a form that a bank would use to gather current mortgage information when it does not report to the credit bureau?
Answer: 

There is no official form, but there are several out on the web, such as this one:
http://www.tdhca.state.tx.us/ocidocs/forms/09-RentMtgVerification.pdf

I'm sure you could use it as a template to develop your own. I would suggest that you have the applicant sign the form giving the current lender authorization to release the information. Whether the current lender will cooperate is another question.

First published on BankersOnline.com 3/18/13

First published on 03/18/2013

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