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What rules regulate what you report to credit reporting agencies? If you currently report certain loan types to the credit bureau, is there a restriction on which loans you report or don’t report? I have looked at the FCRA and the FACT act, but I haven’t seen anything that addresses this issue. I know if you service FM loans you must report the FM loans to three different bureaus. My main question is, if we have two borrowers on one loan, is it a violation to report the primary borrower, but not report the co-borrower (not cosigner)? Everything I have read says if you report a certain type of loan, i.e. mortgage loans, you must report all mortgage loans. Is this correct? Please advise me where to look.
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