Credit score disclosure req'd for HELOC suspension

Posted By: Many Hats

Credit score disclosure req'd for HELOC suspension - 04/19/12 12:39 PM

If a bank pulls a credit report as part of procedures for reviewing a HELOC for possible suspension, and the line is suspended due to information contained in the report, is the bank required to provide the H-2 disclosure?
Posted By: Ted Dreyer

Re: Credit score disclosure req'd for HELOC suspension - 04/19/12 02:08 PM

No, the H-2 is used when you increase the APR as a result of consumer report information.
Posted By: Many Hats

Re: Credit score disclosure req'd for HELOC suspension - 04/20/12 11:59 AM

That's what I thought. Do you have to provide any score disclosure, or just notify them of the suspension (to comply with Reg Z)?