A Statement of Credit Denial, Termination, or Change (Adverse Action Letter) is required by the Fair Credit Reporting Act and provides clients with the following:

• Reason(s) loan request was denied
• Credit Score
• Key factors affecting their credit score

The Statement of Credit Denial, Termination of Change (Adverse Action Letter) must be provided to the applicant within 30 days of receipt of the completed application and required when:

• The applicant is an individual
• A credit bureau report is obtained, and
• Loan request is denied

DecisionPro: The Statement of Credit Denial letter will be mailed from the centralized processing center.

Abrigo: Click Adverse Action – Statement of Credit Denial, Change, or Termination to download the form. 

• Complete all sections of the form prior to printing, and mail it to the applicant..