08/14/2022
Credit Reporting Loans to Minors
09/26/2021
We are refinancing several mortgage properties for the same consumer at the same time. Can one credit report be pulled and used for all refinancing loan files? This provides a cost savings as we only charge for the one credit report.
07/25/2021
We have a customer that is a victim of fraud. The customer called several different credit reporting agencies to get information and received several different answers regarding credit information. The customer wants us to pull a tri-credit report for them. Would this be a permissible purpose to pull the credit report?
09/27/2020
We have a loan that is paid to a $0 balance. However, there is a large sum of late charges owed. Can late fees be reported as a delinquent/past due status to the credit bureau?
11/17/2019
We have an online loan application that our members complete. It does not have a signature on it. We use that to pull credit, make the loan and the
members come in and sign loan documents. My question is do I need them to complete a loan application in person with a signature or is the on-line
application sufficient?
08/25/2019
I have a client (a lender) who orders their credit reports from "XYZ Data" and when a loan is declined, they list Equifax on their Adverse Action
Notice (with appropriate address and phone number) and they have now been told that because "XYZ Data" is considered a reseller of credit under the
FCRA 603(u) that they should also list XYZ Data (along with its name and telephone number) on the Adverse Action Notice. Is this true?
12/23/2018
We use Equifax to pull our credit reports. In addition to that, they're the only company we report our customer's loans to. How can we report and possibly retrieve from all three major credit reporting agencies? I've emailed Equifax, but haven't heard anything yet.
09/23/2018
Can you report a business debt under an LLC or corporation under the guarantors credit report?
07/22/2018
1. Do you need a new credit application for commercial loans that are
renewals, extensions or change in terms on an existing account?
2. Do you need permissible purpose to pull a credit report on commercial loan
renewals, extensions or change in terms on an existing account?
04/01/2018
We are going to offer Partition HELOC loans (a main HELOC and fixed rate partitions). How are these reported to the credit bureau? Just the main HELOC and the fixed rate partitions or just the main HELOC?
