A Comprehensive Solution for Automatic Transmittal of Adverse Action Letters
Rental property owners and managers are required by federal law under the Fair Credit Reporting Act (FCRA) and by some state laws* to provide timely Adverse Action notifications. These notifications communicate to an individual whether they have been denied or conditionally accepted for residence based on the contents of a consumer report (formally known as “adverse action”).
Providing these notifications manually can be cumbersome and time-consuming, potentially delaying the distribution of a letter and affecting compliance mandates. In addition, it is difficult to prove the letter has been delivered to the applicant when using a manual process.
*This product does not address state law requirements.
For Property Managers, Automated Adverse Action Letter Offers:
Automated Letter Transmittals
Allow letters to be sent by email, or by mail in case of email failure or where a consumer does not consent or does not have email
Secure Virtual Room for Applicants
Provides safe viewing and printing of letters
Delivers a popup screen to view letter status
Managed Portfolio Settings Changes
Enable the product, selection of properties and when and what type of letter to send
Insight Center report that shows the letter status for each property and applicant
- Ensures the letter is always sent when it is needed
- Allows management company to control the message and ensure the “authorized” letter is being sent
Our Automated Adverse Action Letter is key for those property owners who want to simplify the process of meeting federal requirements for notifying prospective renters on adverse decisions regarding their applications.