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Timing for Notice of Negative Credit Reporting

Answered by: 

Question: 
We need a clarification regarding FACT Act. Can we provide the [negative reporting] notice along with the loan documents when the loan originates? We could provide a separate form or add it as a provision/condition within the loan document.
Answer: 

You could provide the notice at the loan's closing, however it would have to be a separate notice.

First published on BankersOnline.com 4/18/05

First published on 04/18/2005

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Filed under lending as: 

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