I use a summary of the credit bureau reports in our loan meetings that include derogatory and positive credit. While it is understood that the participants of the program often have past credit problems I think it hepls the committee to see the types of credit issues that the participant has as well as monthly and overall balances they are carrying. In addition, how long ago the negative credit was originated can make a difference.
>From: "Kevin P. Stewart" <[EMAIL PROTECTED]>
>Reply-To: [EMAIL PROTECTED]
>To: <[EMAIL PROTECTED]>
>Subject: [WTW] Use of Credit Bureau Reports in Loan Committee Meetings
>Date: Mon, 13 Jan 2003 09:04:38 -0600
>
>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
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