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#1479977 - 12/13/10 10:11 PM Who's doing What?
SUSANE1 Offline
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Joined: Mar 2008
Posts: 808
Which method is your bank choosing to go with?
Case by Case ...Credit Score Proxy Method or Tiered Pricing

Exception Notice ?

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#1479987 - 12/13/10 10:19 PM Re: Who's doing What? SUSANE1
MyBrainHurts Offline
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Illinois
We're doing the exception notice. Seemed a lot easier.
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#1480016 - 12/13/10 10:45 PM Re: Who's doing What? MyBrainHurts
Doug Hendrickson Offline
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Doug Hendrickson
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Same here; exception notice.
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#1480020 - 12/13/10 10:48 PM Re: Who's doing What? Doug Hendrickson
swiggles Offline
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swiggles
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So far, I don't think I've heard of anyone using anything but the exception notice.............
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#1480033 - 12/13/10 11:49 PM Re: Who's doing What? swiggles
rlcarey Online
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rlcarey
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Galveston, TX
Only some of my banks that use some sort of tiered pricing and don't get a credit score.
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#1480036 - 12/14/10 12:07 AM Re: Who's doing What? SUSANE1
Sewanee, CRCM Offline
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TN
Exception Notice.
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#1480118 - 12/14/10 02:26 PM Re: Who's doing What? Sewanee, CRCM
RR Joker Offline
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The Swamp
Exception Notice.
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#1480218 - 12/14/10 03:38 PM Re: Who's doing What? RR Joker
Dani York, CRCM Offline
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Dani York, CRCM
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TN
We are using the tiered pricing method for loans NOT secured by 1-4 family real estate and the exception notice for 1-4 fam RE loans.
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#1480935 - 12/15/10 04:37 PM Re: Who's doing What? Dani York, CRCM
pacar Offline
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Posts: 320
Exception Notice

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#1481028 - 12/15/10 06:03 PM Re: Who's doing What? pacar
MB Guy Offline
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Posts: 10,124
Way, way south.
Combo platter here for some unknown reason other than our loan department was sold on it by a vendor, otherwise Exception Notice all the way baby.
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#1482899 - 12/20/10 06:18 PM Re: Who's doing What? MB Guy
Live 2 Comply Offline
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Live 2 Comply
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Exception Notice

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#1482930 - 12/20/10 06:56 PM Re: Who's doing What? Live 2 Comply
J2C Offline
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Posts: 1,475
Big Brother knows and that's a...
Exception Notice
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#1483341 - 12/21/10 03:16 PM Re: Who's doing What? J2C
cindylou66 Offline
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cindylou66
Joined: Dec 2003
Posts: 25
Alabama
H3 to all real estate secured with credit score.
H4 to all consumer non-real estate with credit score.
H5 to all with no credit score.

I assume this = exception notice?
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#1483673 - 12/21/10 08:27 PM Re: Who's doing What? cindylou66
Sheldon Hendrix Offline
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Sheldon Hendrix
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Posts: 1,194
South
Originally Posted By: cindylou66
H3 to all real estate secured with credit score.
H4 to all consumer non-real estate with credit score.
H5 to all with no credit score.

I assume this = exception notice?



Yup - "exception notice(s)"

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#1483771 - 12/21/10 10:15 PM Re: Who's doing What? Sheldon Hendrix
SUSANE1 Offline
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Posts: 808
So the H-4 is the form that will give the consumer his credit score, the source and date of score and then the range from low to high....and lastly ...."your credit score ranks higher than _____% of US consumers"
Our ARTA forms call this Risk-Based Pricing Notice - Not 1-4 RE secured.............

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#1483861 - 12/22/10 01:46 PM Re: Who's doing What? SUSANE1
Dani York, CRCM Offline
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Dani York, CRCM
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Posts: 3,663
TN
The H4 is the exception notice that you use for any loan that is not secured by 1-4 family RE. The H3 is the exception notice you use for loans secured by 1-4 family RE. The same notice except that the H3 includes the Notice To Home Loan Applicant.
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I can't herd the cats anymore, so I just set up the electric fences and let them fry when they stray out of bounds.

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#1485126 - 12/23/10 10:32 PM Re: Who's doing What? Dani York, CRCM
cindylou66 Offline
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cindylou66
Joined: Dec 2003
Posts: 25
Alabama
Okay, I read a blog by Lucy Griffin today that said "easy way-sending notices to everyone-doesn't work because it misinforms some of your customers." But if we're using the H3, H4, and H5, this does not apply, correct?
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#1485177 - 12/24/10 12:59 PM Re: Who's doing What? cindylou66
rlcarey Online
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rlcarey
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Galveston, TX
She was referring to if you used the H-1 notice.
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#1485254 - 12/24/10 02:32 PM Re: Who's doing What? rlcarey
cindylou66 Offline
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cindylou66
Joined: Dec 2003
Posts: 25
Alabama
Thanks! Merry Christmas!
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I went to an office and was respected as a human being and my opinion was appreciated. Guess what? I was in the wrong office!


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#1485409 - 12/24/10 04:44 PM Re: Who's doing What? MB Guy
Always In Training Offline
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Where the Green Grass Grows
We are using tierred pricing -- we do not obtain scores.

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#1485622 - 12/26/10 11:20 PM Re: Who's doing What? Always In Training
Needs To Know Offline
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Needs To Know
Joined: Jun 2003
Posts: 80
Someplace Warm
We use tiered pricing and are using the RBP notice across the board.

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#1485626 - 12/27/10 01:26 PM Re: Who's doing What? Needs To Know
rlcarey Online
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rlcarey
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Galveston, TX
"We use tiered pricing and are using the RBP notice across the board."

I don't understand what this statement means? If that means you are using model form H-1 and giving it to everyone, that will not be compliant.
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The opinions expressed here should not be construed to be those of my employer: PPDocs.com

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#1485658 - 12/27/10 03:10 PM Re: Who's doing What? rlcarey
Always In Training Offline
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Posts: 1,115
Where the Green Grass Grows
I think
Originally Posted By: Needs To Know
We use tiered pricing and are using the RBP notice across the board.


maybe in response to
Originally Posted By: Dani York
We are using the tiered pricing method for loans NOT secured by 1-4 family real estate and the exception notice for 1-4 fam RE loans.


Glad to know my bank won't be the only one using H-1. I'm just trying to decide how to train my folks in how to fill in the blank as to what was affected. Notice says, "APR/down payment". I wondered what other options we could type in there.

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#1486236 - 12/28/10 05:23 PM Re: Who's doing What? Always In Training
Queen Mum Offline
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Queen Mum
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Posts: 3,920
OK
Exception Notices

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#1486296 - 12/28/10 06:35 PM Re: Who's doing What? Queen Mum
HRH Okie Banker Offline
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Oklahoma
Exception Notices
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