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#430929 - 09/29/05 01:57 PM Score disclosure-can we send the actual repts?
Trees Offline
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Joined: Apr 2005
Posts: 4,013
Does the reg include any language that prohibits us from sending copies of the entire credit reports rather than providing our interpretation of the 3-4 items that may have influenced a decision? Our case was discussed in previous threads where we do not reference scores as a dterminant in our decision. However, Fannie mae does reference them in their reports, so, to be safe we will send the notice. As we don't rely on the scores, to save time, we want to send the actual reports (we use from the three biggies). Thanks

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#430930 - 09/29/05 02:26 PM Re: Score disclosure-can we send the actual repor?
Dan Persfull Online
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Dan Persfull
Joined: Aug 2002
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Bloomington, IN
I would hesitate sending the actual report due to all of the NPI available in the report. If it was intercepted guess who the applicant will blame for all the damage that could be caused by identity theft. Also, your contract with the CRA(s) probably will not allow this. However, I know of no regulatory prohibition from doing so.
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#430931 - 09/30/05 04:17 PM Re: Score disclosure-can we send the actual repor?
RobinB Offline
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RobinB
Joined: May 2005
Posts: 298
Maryland
If your company actually distributes the whole report, doesn't that make you potentially liable as the reporting agency? That's what they used to tell us but it hasn't been an issue for years.

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#430932 - 09/30/05 04:53 PM Re: Score disclosure-can we send the actual repor?
Beagles22 Offline
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I think that is a factor. We don't give out the report because we were told that if there was a problem on it, because they got it from us we would be responsible. Why take that chance? I would rather go through the 4 reasons on a form letter.
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#430933 - 09/30/05 06:04 PM Re: Score disclosure-can we send the actual repor?
Andy_Z Offline
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The FCRA says that you cannot be restricted from disclosing the credit report contents, when there is a denial. Often your vendor contract does restrict you from providing the report otherwise. There are so many reasons against giving it and only a few in the pro column. These have been hashed here before many times. If you don't find them on a search and want some links, let me know.
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#430934 - 09/30/05 10:12 PM Re: Score disclosure-can we send the actual repor?
Truffle Royale Offline

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Just to save you digging around, Trees, the big three all have the ability to just print out the disclosure in applicant friendly language. Just ask your vendor and they'll help you do it. It only takes a minute...otherewise our underwriters wouldn't do it when they print the cbr either.

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#430935 - 10/12/05 07:56 PM Re: Score disclosure-can we send the actual repor?
I Comply Offline
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I Comply
Joined: Nov 2004
Posts: 57
Andy,I'm having a hard time finding links, our contract does not say we cannot give a copy to the applicant.
Would you give me the links, please? Thank you.

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#430936 - 10/24/05 02:38 PM Re: Score disclosure-can we send the actual repor?
Nick Grant Offline
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Joined: Sep 2005
Posts: 108
I am not clear on this, can we share the actual report? I have always understood we could not as that would make us the reporting agency. Any advice here?

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#430937 - 10/24/05 06:44 PM Re: Score disclosure-can we send the actual repor?
Nick Grant Offline
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Joined: Sep 2005
Posts: 108
Can we actually share the report to a customer? I thought we had to be careful not be the reporting agency.

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