Yes. A credit union may verify the status of the member by using code or other indicator describing that status on a consumer report it obtains from a nationwide consumer reporting agency or a reseller of such reports to determine whether a member is a covered borrower. 16
Exactly exactly just What documents must my credit union stick to utilize the safe harbor supply?
To be protected by the safe harbor supply, you have to produce accurate documentation on time and continue maintaining it. The last guideline does maybe perhaps not specify the length of time you have to wthhold the documents.
Exactly what are the timing needs for determining covered debtor status? (altro…)
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