Our credit bureau rep. just informed us today that they can provide us with a one-page credit score disclosure - for $1.00 per credit report.

I doubt many can do it cheaper on their own. Does anyone see a problem with increasing our fee for the added cost? (Another option being provided is the credit bureau sending the disclosure for $2.50.)

You can increase the fee to cover the cost. However, remember this is a required disclosure and not a credit report. The additional fee will be a finance charge.

Glad I asked; I may have overlooked that in the rush of things.

(Just like life of loan on flood.)

Is this a Pre-paid finance charge and part of the APR?

I will be part of the APR.

We have been advised by CBC (Trans Union) that it is part of the credit report and not something to add to the APR.

I don't think I'd rely on the Credit Bureau to interpret Reg Z. There's experts out there that still get confused on that stuff!

I agree that it would be a finance charge if passed to the borrower-

I also agree on what does the credit bureau people know about the regs. But that's my opinion.

How will you comply if you have a recent credit bureau report in file and don't order a new one for a new application? Will you just keep a copy and reuse it?

Thanks for your input. I see where you are coming from and agree. It certainly won't hurt to call the $2.50 a Prepaid Finanace Charge.

Am I reading the post and thread correctly? Some of you are charging mortgage loan customers to provide the notice and disclose the scores, as per FACT Act section 212.

Can someone give me the section/location where it indicates this fee can be passed onto the consumer.

You can pass any actual charge on to the consumer that you want to. You will not find a section/location that says you can - nor will you find one that says you can't.