Failing to report favorable payment record.
A lender or its servicer shall report a borrower’s favorable payment history and information to a nationally recognized credit-reporting agency at least once every 12 months. This section shall not prevent a lender or its servicer from agreeing with the borrower not to report payment history information and shall not apply to covered loans held or serviced by a lender for less than 90 days. Nothing in this section shall prevent a lender from reporting a borrower’s unfavorable payment history.
Annotations
May 7, 2002, D.C. Law 14-132, § 207, 49 DCR 2551 For temporary (90 day) addition of section, see § 207 of Home Loan Protection Emergency Act of 2002 (D.C. Act 14-295, March 1, 2002, 49 DCR 2534).
Sourced from the DC Council Open Law Library (public domain).
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