|
||||||||||
|
||||||||||
|
||||||||||
|
||||||||||
Potential Investor
LAWDOG is intended to assist in the understanding of basic concepts. See Disclaimer. Always obtain legal advice from legal professionals.
A consumer agency may furnish a consumer report to a potential investor or servicer, or current insurer, in connection with a valuation of, or an assessment of the credit or prepayment risks associated with, an existing credit obligation. A copy of a portion of Section 604 of the Fair Credit Reporting Act, as amended, is reproduced below for illustration only.
For more information, see "Investor, Servicer, Current Insurer" linked here. Link does not return to this page.
A Portion of Section 604.
Permissible Purposes of Consumer Reports
(a) In general. Subject to subsection (c), any consumer reporting agency may furnish a consumer report under the following circumstances and no other: ...
(3) To a person which it has reason to believe...
(E) intends to use the information, as a potential investor or servicer, or current insurer, in connection with a valuation of, or an assessment of the credit or prepayment risks associated with, an existing credit obligation; ...
A copy of The Fair Credit Reporting Act, As Amended, and a copy of the FTC Official Staff Commentary to the Fair Credit Reporting Act are included, for illustration purposes only, under "Fair Credit Reporting Resources", from LAWDOG Credit Reporting Center, or here. Use browser "back" button to return. Read Notices, Caution and Disclaimer.
Copyright© 1996-2000 by LAWDOG.COM Publishing, Inc. All rights reserved.
