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#1151264 - 03/25/09 06:35 PM CREDIT SCORE DISCLOSURE
Kristi Offline
Member
Kristi
Joined: Feb 2005
Posts: 94
For a loan secured by a 1-4 family and the loan officer relies on an old credit report, do you need to provide the Credit Score disclosure even though it's old information?

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#1151485 - 03/25/09 08:43 PM Re: CREDIT SCORE DISCLOSURE Kristi
CSB98 Online
Diamond Poster
Joined: Dec 2003
Posts: 1,330
Wisconsin
Yes, because you are still relying on information in the credit report.

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#1151677 - 03/26/09 01:04 PM Re: CREDIT SCORE DISCLOSURE CSB98
Dan Persfull Online
10K Club
Dan Persfull
Joined: Aug 2002
Posts: 47,486
Bloomington, IN
I agree. The date the score that was used was generated is one of the required bits of information that must be disclosed in the disclosure.
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The opinions expressed are mine and they are not to be taken as legal advice.

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#1151916 - 03/26/09 03:17 PM Re: CREDIT SCORE DISCLOSURE Dan Persfull
Jerseygirl Offline
Platinum Poster
Joined: Apr 2005
Posts: 684
Jersey Shore
Was the loan denied? - then I agree with Dan

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#1151936 - 03/26/09 03:32 PM Re: CREDIT SCORE DISCLOSURE Jerseygirl
ktac MITCH Offline
Diamond Poster
ktac MITCH
Joined: May 2005
Posts: 1,813
Giant side of TX
Jersey girl = I am not following you?
The disclosure is required to be given to Home Loan Applicants, meaning all applicants - approved - denied - withdrawn . . .
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My opinions are just that, and might be worth what you paid for them.

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