Skip to content

FACTA Notice to Home Loan Applicant

Answered by: 

Question: 
Regarding FACTA Notice to Home Loan Applicant, if the bank does not pull a new credit report on a request to refinance an existing mortgage (or consumer loan secured by a 1-4 family residental property) do we need to issue the Notice to Home Applicant?
Answer: 

If you used the previously obtained credit report (score) in your credit decision for the refinancing transaction, yes. The date of the credit score used is one of the required disclosures in the notice.

First published on BankersOnline.com 4/16/07

First published on 04/16/2007

Filed under: 
Filed under operations as: 

Banker Store View All

From training, policies, forms, and publications, to office products and occasional gifts, it’s available here:

Banker Store

hot right now

image description

Looking for effective, convenient training on a particular subject?

BOL Learning Connect offers more than 200 courses ON-DEMAND or on CD ROM from AML to Reg Z and every topic in between.

Search Topics