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FACTA Disclosure for Loss Mitigation Actions?

In regards to FACTA and loan servicing: Are Servicers required to send a disclosure when obtaining a credit report for loss mitigation actions?

Answer from Randy: None that I am aware unless you take adverse action.


Answer from Andy: And just to be clear, FACTA is a part of the FCRA and Reg V. So these are the two areas (the FCRA and Reg V) you would review for a. permissible purposes to access a credit report and b. actions necessary based on the report.

First published on 2/4/13

First published on 02/04/2013

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