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Residential to Construction Permanent Loan Reporting

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  • February 15, 2017 at 11:06 am EST #10647
    rcooper
    Member

    This question was originally posted in the FCRA forum. We have moved it here to allow more member to view and respond.

    I have a question for the group. We were looking at our processes and were curious to find out at what phase of a Residential construction permanent loan do lenders usually report it to credit bureaus? Is it being reported during the construction phase etc.?

    February 16, 2017 at 10:12 am EST #10652
    April
    Participant

    Our bank does not do Construction- Perm. We always do a separate construction term note and refinance into a new amortizing loan after construction is completed. Each loan is reported separately to the Credit Bureau.

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