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#1850994 - 09/11/13 04:20 PM advertise min. credit score
*W*W* Offline
Platinum Poster
Joined: Feb 2010
Posts: 835
Does advertising a minimum required credit score or credit score range trigger additional disclosures on a consumer real estate ad?

Last edited by *W*W*; 09/11/13 04:25 PM. Reason: addl info
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Opinions expressed are my own and do not reflect the views of my employer.

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#1851019 - 09/11/13 04:40 PM Re: advertise min. credit score *W*W*
rlcarey Offline
10K Club
Joined: Jul 2001
Posts: 81,346
Galveston, TX
That alone - no.
The opinions expressed here should not be construed to be those of my employer:

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#1857427 - 10/01/13 07:17 PM Re: advertise min. credit score *W*W*
MoneyMaker Offline

100 Club
Joined: Dec 2000
Posts: 215
Atlanta, GA USA
How many prospect real estate buyers know their current credit score? Isn't there a better way to get prospective real estate buyers to 'pre-qualify' themselves?
Short cuts to bank revenue growth and higher employee happiness.

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#1861531 - 10/15/13 06:37 PM Re: advertise min. credit score *W*W*
Rocky P Offline
Power Poster
Joined: Jun 2003
Posts: 7,519
WW - there are many credit scores. Even if one was pulled from a major vendor, the score the bank uses can be very different. (A general credit score is usually offered by the major CRA's. Your bank may be using a mortgage credit score [heavier emphasis on mortgage loans] or a tri-merge.

There could be a reputational/regulatory risk if applicant gets their score e.g. from Equafax which says 650, and the bank pulls one and it's lower and the loan is denied.
Integrity. With it, nothing else matters. Without it, nothing else matters.

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