For residential real property loans, California Civil Code § 1785.15.1(a) requires a credit reporting agency to supply the consumer with a credit score that is derived from a widely distributed credit scoring model OR with a credit score that assists the consumer in understanding the credit assessment of his or her credit behavior and prediction about his or her future credit behavior. The statute also requires a statement indicating that the information and credit scoring model from the credit reporting agency may be different than the credit score and model used by the lender to determine borrower eligibility.
In order to more explicitly comply with § 1785.15.1(a), Docutech is slightly modifying our CA Credit Score Disclosure (Cx2112) to add the direct statement from the statute: “The information and credit scoring model may be different than the credit score that may be used by the lender.”
This change will be effective October 25, 2016. If you have any questions or concerns about this change, please contact Client Support at 1.800.497.3584.
DR 209174