[LoanMe]

So what exactly do you disclose when giving adverse action notices? The Equal Credit Opportunity Act requires specific reasons for denial and in official staff interpretations, they go into detail as to what needs to be disclosed when using credit scoring systems:

What is disclose in an adverse action letter is between the borrower and the lender. If you have ever seen an adverse action letter, you know it shows a few comments from information gathered by the credit reporting agencies where credit was pulled.

LoanMe has over 150 loan agents taking an average of 15-20 applications per day. Internal scoring and the algorithm used to assess a pre-qualification decline are not something that agents are given access to. This is done for the privacy and protection of the borrower applying for a LoanMe loan.