On Wednesday, September 28, NMHC hosted a Webinar discussing the New Credit Score Disclosure requirements of the Dodd-Frank Wall Street Reform law (P.L. 111-209). This may impose additional disclosure obligations on apartment firms that use a “credit score” in the resident screening process. The provision, which went into effect on July 21, 2011, requires firms that take an adverse action based in whole or in part on a numerical credit score to amend their adverse action notices to include the credit score, in addition to other information.
We have also posted a guidance document with more information on the regulations.
Download NMHC's Credit Score Disclosure Webinar here.
Stream NMHC's Credit Score Disclosure Webinar here.
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