I appreciate your kind words. Ours is a labor of love that shows our commitment to the mortgage community. Through highs and lows, we should look after one another!
Let’s start with a general understanding of “direct dispute.” It is a term found in the Fair Credit Reporting Act (FCRA) that occurs when a dispute is submitted by a consumer directly to a furnisher (including a furnisher that is a debt collector) concerning the accuracy of any information in a consumer report and pertaining to an account or other relationship that the furnisher has or had with the consumer.
Your policies and procedures should meet regulatory standards, and they need to be monitored periodically for implementation. In addition to periodic reviews, you should update them as necessary to ensure their continued effectiveness.
As a furnisher, you must establish and implement reasonable written policies and procedures regarding the accuracy and integrity of the information relating to consumers that your organization furnishes to a consumer reporting agency. The policies and procedures must be appropriate to the nature, size, complexity, and scope of your furnisher’s activities.
