Under "Model Profile" it states: "In addition to the factors lited avove, the number of inquiries on the consumer's credit file has adversely affected the credit score". What if anything do we have to do under the FACT Act?

If you are referring to the disclosure to home loan applicants - you have to include this in addition to the four key factors that you disclose.

"(9) Use of enquiries as a key factor. If a key factor that adversely affects the credit score of a consumer consists of the number of enquiries made with respect to a consumer report, that factor shall be included in the disclosure pursuant to paragraph (1)(C) without regard to the numerical limitation in such paragraph."

Now that the amendemnt has been made in regards to the FCRA with the FACT ACT is it o.k. to refer to it as the FACT ACT all the time? Maybe a dumb question but I have seen it both ways.

Melissa

The FACT Act was only an amendment to the FCRA - it is still the FCRA.