Statement Of Credit Denial Form – Fill Out and Use This PDF

The Statement Of Credit Denial form is a crucial document that provides individuals with reasons why their credit application was not approved, altered, or terminated. It outlines specific factors considered during the application review process, adhering to the Regulation “B” of the Equal Credit Opportunity Act. For those looking to understand the intricacies of their credit application outcome or to dispute any inaccuracies, clicking the button below to fill out the form is a valuable next step.

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Statement Of Credit Denial Form PDF Details

Understanding the nuances of a Statement of Credit Denial form is pivotal for individuals navigating the complexities of credit applications and decisions. This document serves as a notification from credit providers, such as Flagstar Bank's Consumer Lending Group, detailing the reasons behind the denial, termination, or change in credit terms. Rooted in compliance with Regulation "B" of the Equal Credit Opportunity Act, it mandates informing applicants about the specific factors influencing such decisions, ranging from credit file concerns, residency issues, employment status, income adequacy, to collateral values. Besides outlining these reasons, the form extends rights to applicants, including access to appraisal reports and information obtained from consumer reporting agencies, which are instrumental in credit decisions. This information, derived partly or wholly from external sources, shapes the lender's resolution, emphasizing the applicant's entitlement under the Fair Credit Reporting Act to ascertain and challenge the information’s accuracy. Furthermore, the document underscores the prohibition against credit discrimination by federal laws, providing a channel for applicants to submit additional information potentially affecting their credit evaluation. Thus, a Statement of Credit Denial form not only notifies individuals of a credit decision but also educates them on their rights and the importance of various factors considered during the credit application process.

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Form Name	Statement Of Credit Denial Form
Form Length	1 pages
Fillable?	No
Fillable fields	0
Avg. time to fill out	15 sec
Other names	fillable statement of denial, statement of credit denial termination or change fillable form, statement of credit denial termination of change word, statement of credit denial form

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FLAGSTAR BANK, CONSUMER LENDING GROUP	Loan #:
5151 CORPORATE DRIVE
TROY, MI 48098
(800) 945-7700

	STATEMENT OF CREDIT DENIAL, TERMINATION, OR CHANGE
	Description of Requested Credit:
Applicant(s):	Home Equity Line of Credit Modification
	Loan Amount:

Part I: In compliance with Regulation “B”(Equal Credit Opportunity Act), you are advised that your recent application for credit has been declined/terminated/changed. The decision to deny/terminate/change your application was based on the following reasons:

A	CREDIT	D	RESIDENCY
	No Credit File		Temporary Residence
	Insufficient Number of Credit References Provided		Length of Residence
	Garnishment, Attachment, Foreclosure, Collection Action
	Or Judgment Repossession or Suit		Unable to Verify Residence
	Excessive Obligations to Income	E	INSURANCE, GUARANTY OR PURCHASE DENIED BY:
	Insufficient income for Total Obligation		Department of Housing and Urban Development
	Unacceptable Payment Record on Previous or Current Mortgage		Department of Veteran Affairs
	Lack of Cash Reserves		Federal National Mortgage Association
	Delinquent Past or Present Credit Obligations		Federal Home Loan Mortgage Corporation
	Bankruptcy Past or Present	F	OTHER
	Information from Consumer Reporting Agency		Insufficient Funds to Close the Loan
B	EMPLOYMENT STATUS		Credit Application Incomplete
	Unable to Verify Employment		Value or Type of Collateral Non Sufficient
	Length of Employment		Unacceptable Property
	Temporary or Irregular Employment		Insufficient Data-Property
	Insufficient Stability of Income		Unacceptable Appraisal
C	INCOME		Unacceptable Leasehold Estate
	Insufficient Income for Mortgage Payment		We do not grant credit to any applicant on the terms and conditions you
			Have requested
	Unable to Verify Income

You have the right to a copy of the appraisal report used in connection with your application for credit. If you wish a copy, please write to us at the mailing address we have provided. We must hear from you no later than 90 days after we notify you about the action taken on your credit application or you withdraw your application. If you have not already paid an appraisal fee, you may be required to reimburse us for the cost of the appraisal (and any photocopy and postage costs) as a condition of the appraisal report.

PART I. Disclosure of use of information obtained from an outside source.

Our credit decision was based in whole or in part on information obtained in a report from the consumer reporting agency listed below. You have the right under the Fair Credit Reporting Act to know the information obtained in your credit file at the consumer-reporting agency. Under Section 612 of the Fair Credit Reporting Act, you have the right to obtain within 60 days of receiving this notice of a free copy of the report from the consumer credit reporting agency. You also have the right to dispute the accuracy or completeness of any information in a consumer credit report furnished by the consumer credit reporting agency. The reporting agency played no part in our decision and is unable to supply/provide specific reasons why we have denied credit to you.

Trans Union Corp PO Box 1000 Chester, PA 19022 800-888-4213

PART II. Our credit decision was based in whole or part on information obtained from outside source other than a customer-reporting agency.

Under the fair Credit Reporting Act, you have the right to make a written request, not later than 60 days after you received this notice, for disclosure of the nature of this information.

The federal Equal Credit Opportunity Act prohibits creditors from discriminating against credit applicants on the basis of race, color, religion, national origin, sex, marital status, age (provided that the applicant has the capacity to enter into a binding contract); because all or part of the applicant’s income derives from any public assistance program; or because the applicant has in good faith exercised any right under the Consumer Credit Protection Act. The federal agency that administers compliance with this law concerning this creditor is the

Office of Thrift Supervision

1475 Peachtree Street, N.E.

Atlanta, GA 30309

Should you have any additional information, which might assist us in evaluating your credit worthiness, please contact:

This notification is given by Flagstar Bank, FSB

By: ____________________________________________

Tonya McDaniel

Date:

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1. The stement of credit denial termination or change form needs certain details to be typed in. Ensure the subsequent blank fields are completed:

credit denials conclusion process described (step 1)

2. Soon after finishing this section, go to the next part and complete the necessary particulars in these fields - Length of Residence, Unable to Verify Residence, Department of Housing and Urban, OTHER Insufficient Funds to Close, Credit Application Incomplete, Insufficient DataProperty, Have requested, Insufficient Number of Credit, Garnishment Attachment Foreclosure, Insufficient income for Total, Or Judgment Repossession or Suit, Information from Consumer, Unable to Verify Employment Length, Insufficient Stability of Income, and Unable to Verify Income.

credit denials conclusion process shown (portion 2)

3. This next step is related to PART II Our credit decision was, Under the fair Credit Reporting, nature of this information, The federal Equal Credit, Office of Thrift Supervision, Tonya McDaniel, and Date - complete these blank fields.

PART II Our credit decision was, Under the fair Credit Reporting, and Tonya McDaniel in credit denials

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Statement Of Credit Denial Form – Fill Out and Use This PDF

Statement Of Credit Denial Form PDF Details

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