Latest Lending - FCRA Topics

Borrower Loses Employment-Deny Loan

07/04/2021

If an approved borrower loses their employment just before closing, what is the process to then deny the loan?

Notice of Negative/Inaccurate Information

06/20/2021

The Notice of Negative Information and the Notice of Inaccurate Information..Are these both required on commercial real estate loans?

Notice of Negative/Inaccurate Information

06/20/2021

The Notice of Negative Information and the Notice of Inaccurate Information..Are these both required on commercial real estate loans?

Redlining is real

02/07/2021

Is redlining real? It seems to be an antiquated type of violation.

FDCPA is important to banks

01/31/2021

Why am I concerned with the FDCPA since it applies to third party collectors?

Written Permission to Access Credit Reports Required

01/24/2021

Written Permission to Access Credit Reports Required

Loan w/ Zero Balance but has Late Fees

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?

Notices per Applicant

06/07/2020

If joint applicants live in same address, do we still need to provide separate notice (i.e. 2 FCRA notice) or can we send 1 notice and since they both live in same address, that would meet the requirement?

Charge Fee for Soft Credit Pull Prior to App?

05/10/2020

Can a lender charge a customer for the cost of a soft credit pull prior to an application for example for a prequal or preapproval? I have heard that there are no federal prohibitions on doing this, but I would like to have more than one perspective please.

Notice to Home Applicant Required If Denied?

05/03/2020

Is the notice to home loan applicant required if the request is denied within 3 days?