2604 Completing the Credit Score Disclosure

Note: All fields in this form will populate when you request credit using the Services menu or the Request Credit button from the Liabilities section of the Loan Application section 2. However, if fields are not imported when you request credit, you may need to contact the credit agency to update your account to import these new fields and the updated credit score disclosure.

1.    Open the loan file.
2.    From the menu bar, select Forms > Credit Score Disclosure.

Note: You MUST select whether you are disclosing the highest, middle, or lowest score. Otherwise, the credit scores and factors will not print.

3.    Click the Credit Scores button at the very bottom of the window, and the borrower and co-               borrower credit scores will display. 

4.    The Borrower and Co-borrower contain separate sections for each consumer reporting                     agency: Experian, TransUnion, and Equifax. Select the add tab for each Borrower to add or             edit from the credit report.

Model Used: Enter the credit score model that the credit bureau used to calculate the credit score.

Range of Possible Scores: Enter the lowest and highest range of credit scores for that credit bureau.

Date Created: Enter the date that you requested the borrower's credit report.

Credit Score: The credit score fields are grayed out. Scores will populate from the Credit Scores button at the bottom left of the screen.

Ranks higher than ___ percent of U.S. consumers: Enter the percentage at which the borrower's credit score ranks compared to other consumers in the United States.

Factors: Enter the factors from the credit report.

Close all windows to preview.

1.    Click File > Print to print the form.
       The Credit Score Information Disclosure form consists of two pages. The second page is for             the borrower vs. the co-borrower. If you need to print the form for the co-borrower, you must             select Credit Score Information Disclosure (Co-brw) from the print menu.

NOTE: For Brokers needing the Credit Score Disclosure verbiage changed from LENDER.

Open the Credit Score Disclosure > Check the credit Score Provided on Behalf of the lender box.

1.    Please be sure that you have completed the required steps above before printing the                       document.

2.    Click the Credit Scores button at the bottom of the screen and verify the scores.

3.    View the Credit Score screen and verify all fields are completed.