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CREDIT REPORTING

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Viewing 5 posts - 1 through 5 (of 5 total)
  • Author
    Posts
  • #2497
    gburton
    Participant

    ON COMMERCIAL LOANS ARE YOU REQUIRED TO REPORT GUARANTORS TO THE CREDIT BUREAUS?

    #2934
    JGo9
    Participant

    There are no regulatory requirements that I’m aware of that would require you to report on the Guarantors.

    #2931
    gburton
    Participant

    WHAT ABOUT SOMEONE WHO HAS SIGNED INDIVIDUALLY ON COMMERCIAL LOAN ?

    #2932
    JGo9
    Participant

    Same answer. There is nothing that would require the Bank to have to report.

    #2933
    dmurray
    Participant

    If your customer wishes, you may report to the credit bureau(s). I know I’ve been in situations where the borrower actually did want their payment history to be reported. We issued a Notice of Negative Information and also got something from the borrower with them stating their specific request.

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