Chris Baker has applied for a loan with your bank. You are reviewing the information supporting the request and notice that the address on the credit report is different from the one Chris provided. What should you do?

Select the correct answer:
A. Stop the loan application process and deny the application.
B. Ignore the credit report. Credit bureau information is often not current because people change residences.
C. Mail a letter to the customer and send it to the address given. If it does not come back, the address is probably correct.
D. Ask to see documentation verifying the information provided by the customer and notify the credit bureau.

Question

30-07-2024
Business

Answered

Chris Baker has applied for a loan with your bank. You are reviewing the information supporting the request and notice that the address on the credit report is different from the one Chris provided. What should you do?

Select the correct answer:
A. Stop the loan application process and deny the application.
B. Ignore the credit report. Credit bureau information is often not current because people change residences.
C. Mail a letter to the customer and send it to the address given. If it does not come back, the address is probably correct.
D. Ask to see documentation verifying the information provided by the customer and notify the credit bureau.

Answer :

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GinnyAnswer GinnyAnswer · Answer 1 · 2024-07-30T17:40:18-04:00

Final answer:

When faced with discrepancies between provided information and credit report details, it is essential to verify the accuracy by asking for documentation and notifying the credit bureau.

Explanation:

Ask to see documentation verifying the information provided by the customer and notify the credit bureau. It is crucial to confirm the accuracy of the information before proceeding with the loan application. Contacting the customer and addressing the discrepancy directly can help prevent potential issues.

Learn more about verifying information accuracy here:

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