A borrower disputes information on their credit report directly with the credit reporting agency. The CRA investigates and determines the information is accurate. The borrower then contacts the mortgage lender who pulled the report and demands they investigate the same dispute. The lender must:
Correct Answer
B) Investigate only if they furnished the disputed information
Under FCRA Section 611, lenders are only required to investigate disputes if they furnished the information being disputed to the CRA. Simply pulling a credit report does not create an obligation to investigate disputes about information furnished by other creditors.
Why This Is the Correct Answer
Under FCRA Section 611, lenders are only required to investigate disputes if they furnished the information being disputed to the CRA. Simply pulling a credit report does not create an obligation to investigate disputes about information furnished by other creditors.
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