Credit Score Disclosure Exception Notice

The Credit Score Disclosure Exception Notice (CSDEN) contains all of the required information that is outlined in the new FCRA requirements. You can obtain more information from the Federal Reserve website (click here):

The CSDEN displays basic information about MFI Credit Solutions, the borrower, and if applicable, the co-borrower. It also contains all information required by the FCRA rules, such as a definition of what a credit score is, how it is used to determine credit terms, where a consumer can receive a copy of their report, and what a consumer should do if they feel there are mistakes on a report. The CSDEN also contains the actual credit scores, score factors, a graph displaying a range of scores, and within the graph which range the borrower falls into compared to the national average.

Stay in compliance and streamline your processes

The Credit Score Disclosure Exception Notice can be delivered instead of a risk-based pricing notice and be considered compliant with the new regulations.

The CSDEN only needs to be printed with every report to ensure compliance. A risk-based pricing notice has varying factors determining whether or not it should be delivered. It will save time and money to simply print a CSDEN rather than determining whether or not a risk-based pricing notice should or should not be delivered, and will eliminate the risk of not sending a risk-based pricing notice and violating the regulations.

If you have any questions about the CSDEN or other services that MFI Credit Solutions provides, please contact us at (714) 500-3264.

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