We are going to finance the purchase of a mobile home. Would this be HMDA reportable?
Is there a difference between a manufactured home, and a "pre-cut, tilt-wall" or "panel" home?
With an online loan application, can the applicant authorize the credit report check of a co-applicant?
If a borrower was denied credit for insufficient income (non credit score related),
does the credit /score disclosure need to be included with the denial letter?
Does the requirement in Regulation B, 1002.10, regarding furnishing of credit information that requires reporting to the credit bureaus of spouses that are authorized users of credit cards still valid or has it been superseded? Is a standard practice? When I was asked this question if we had to report on an authorized user I thought no way as they are not responsible for the debt so why would we report and how would it help them establish credit. Please advise.
Under the Fair Credit Reporting Act, if a direct dispute is deemed to be frivolous or irrelevant, the Bank shall notify the consumer of such determination not later than 5 business days after making such determination. Do you have a sample of the frivolous or irrelevant notice, or can you indicate where one can be found?
I am wondering what part Regulation V plays in FCRA and FACTA? I have been asked to review this for my next test and would like a little more insight into it.
If an individual applies for a loan and the lender pulls credit on both him and his spouse (spouse is not on the application or affiliated with the loan) is this a violation to the spouse?
Normally we do not use credit score when determining rates or approvals. However, we are offering a promotion and want to base the rate on their credit score for this promo only and no other loans. Are there any discriminative factors in doing so as long as we apply the same procedure fairly to each applicant that applies.
When pulling a credit report on a consumer request, can we give the customer a copy of the full credit report or are we only allowed to give them a copy of the credit score disclosure?