What must an applicant do if they want to dispute information related to an adverse underwriting decision?

To dispute information related to an adverse underwriting decision, the applicant must submit a written dispute within 30 days. This requirement is rooted in the Fair Credit Reporting Act (FCRA) and similar state regulations, which safeguard consumers' rights to access and contest inaccurate information. By allowing a formal written request, the procedure ensures that disputes are documented and can be properly reviewed by the underwriting company or credit reporting entity.

This approach promotes transparency and gives the applicant a clear pathway to challenge any adverse information that may have influenced the underwriting decision. It emphasizes the importance of a structured process for resolving disputes rather than relying on verbal communication or informal interactions that may lack clear documentation or accountability.