Skip to content
BOL Conferences
Forums · Active Threads · Forum Rules · Mark All Read · Log In
BankersOnline.com Forums Banker Forums Lending Compliance No credit score - FCRA Sec 609g
Thread Options
#1749407 - 10/15/12 09:45 PM No credit score - FCRA Sec 609g
COMPLIcated Offline
Diamond Poster
Joined: Mar 2003
Posts: 1,035
OK
If we have an applicant applying for credit secured by a 1-4 family residence but they do not have a credit score, we do not have to supply them with a copy of the Notice to Home Loan Applicant under FCRA 609(g) do we? We are supplying them with the Risk Based Pricing exception notice for No Credit Score under FACTA which does not include the NHLA verbiage.

Return to Top
Lending Compliance
#1749536 - 10/16/12 02:59 PM Re: No credit score - FCRA Sec 609g COMPLIcated
COMPLIcated Offline
Diamond Poster
Joined: Mar 2003
Posts: 1,035
OK
Anyone providing the NHLA disclosure for a borrower without a credit score?

Return to Top
#1749592 - 10/16/12 05:24 PM Re: No credit score - FCRA Sec 609g COMPLIcated
Tesla Offline
Power Poster
Joined: Nov 2003
Posts: 3,726
As I read the rule, I believe it says you do not have to provide the NHLA if you don't "use the credit score" and you can't use a score if there is not one available, right? smile
_________________________
It's not that I take life for granted. It's only that the good won't make it. Innocence dies, while Villany Thrives.

Return to Top

Moderator:  Andy_Z