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#2194262 - 10/01/18 02:43 PM Commercial HMDA Credit Score
whitney0089 Offline
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Joined: Jul 2018
Posts: 13
Obviously we can't report a credit score if the loan is in the name of a business, but if the loan is to an individual would we report the applicant's score that was pulled or report it as 8888 for not applicable since it's still a business transaction??

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#2194284 - 10/01/18 04:06 PM Re: Commercial HMDA Credit Score whitney0089
Adam Witmer Offline
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Joined: Sep 2010
Posts: 2,658
The only exemption for a credit score is when the applicant and co-applicant, if applicable, are not natural persons. Therefore, if your applicant is a natural person, you would need to list any credit score you relied on regardless of whether the loan is for business or consumer purposes.
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Adam Witmer, CRCM

All statements are my opinion, not those of my employer, and should not be taken as legal advice.
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