Quote:
Originally Posted by apexcrsrvc
No, actually, it doesn't appear to when both spouses are on the app. It evidently only considers AU accounts when the holder spouse isn't involved in the app. That is coming from the Announcement and it seems problematic in rather common contexts that play out quite frequently.
|
The applicant is still not disadvantaged by being bounced for manual review. Their AU account, properly documented, is considered, which means the review is still consistent with the intent of the ECOA.
My guess is that those manual reviews will also reveal other factors that are legally sufficient for a denial where the applicant was having to rely on an artificially propped score in order to seek the mortgage. While I have no doubt that someone will try to push through some form of frivolous litigation, I see a number of prospective plaintiffs that will have egg on their faces when all is said and done...