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

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: