[WTW] Use of Credit Bureau Reports in Loan Committee Meetings

[Kevin P. Stewart]

A new loan coordinator inquired about the use of credit bureau reports in loan committee meetings.   The reason that I am presenting this topic for discussion is that I think insights from loan coordinators would be helpful.   So, here are some questions for discussion. Why do you think loan committee members need (or don't need) to review credit bureau reports. Are there benefits of loan committee members reviewing (having actual copies) credit bureau reports? If so, what are those benefits? Do credit bureau reports influence the decisions of the loan committee members? If so, how? Do you distribute copies of applicants' reports to committee members? If so, why? Do you present a summary (instead of  actual reports) to loan committee members? If so, why?   Thanks, Kevin