Recommendations from Lender*VP – Document Retention for Denied Applications

What is your credit union’s current retention plan for documents relating to denied applications?  Lender*VP has recommendations for your credit union, as detailed below. Lender*VP recommends that any/all relevant documentation and information that is used to deny loan applications should be saved by your credit union for a period of at least 25 months.  Relevant… Read more »

Does Your Credit Union Use TransUnion for Credit Pulls? Your Action is Required!

Attention credit unions who pull credit scores via TransUnion: At the end of this year, TransUnion will be sunsetting their FICO 98 scoring model.  If your credit union is still currently utilizing this model, please work with your direct bureau reps as well as the Lender*VP Team to coordinate appropriate changes on the system. Transunion’s… Read more »