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Yes, the NHT is authorised to share this information under Section 8 (2) (k) of the Credit Reporting Act, 2010 (“The Act”).
The NHT will use the reports it receives to : (a) assist in designing programmes to manage and service mortgagors accounts (b) assist in verifying information submitted by individuals applying for mortgages in excess of $5.5 million, in NHT schemes.
No. The report will be used as in (a) above. Additionally it will be used to determine a contributor’s ability to afford a loan in excess of $6.5 million. Loans in excess of $6.5 million are only provided in NHT schemes where the solution is priced for more than the individual loan limit.
Private Treaty Sale is one of the methods used by financial institutions such as the NHT, to legally recover outstanding mortgage loans in default, and which are secured by properties such as residential homes.
Private Treaty Sale is one of the methods used by financial institutions such as the NHT, to legally recover outstanding mortgage loans in default, and which are secured by properties such as residential homes.
Whenever credit information has been amended a copy of the amended report is sent by the credit bureau to every person to whom the credit bureau disclosed the inaccurate or incomplete information. The consumer is also notified when the necessary changes have been made.
Once a complaint is made to a credit bureau, the Bureau should take steps such as to confirm, correct or complete the information no later than fourteen days after the complaint has been made.
Complaints regarding credit reports should be directed to the Credit Bureau from which the credit report was received.
As an authorised Credit Information Provider (CIP) under Section 8 (2) (k) of the Credit Reporting Act, the NHT has the right to share information listed in Section 8(1)(3), 7 days after publishing a general notice.
Once you are selected, you will be contacted by the NHT by mail and advised of the required documents you will need to submit, including: NIS and TRN cards If employed to a company: Verification of Gross Income and Contributions letter from past and present employers Proof of Age and Identification.
Only the points of the primary applicant will be used for selection. So, ensure that the person with the highest points is the primary applicant.
Only the points of the primary applicant will be used for selection. So, ensure that the person with the highest points is the primary applicant.
