Question

What are some of the adverse actions you can take if a resident application has a fraud alert or file blocks identified on their credit report?

Answer 1

When a resident application has a fraud alert or file blocks on their credit report, adverse actions may include rejecting the application, requiring additional verification, or imposing more stringent leasing requirements.

Step-by-step explanation:

If a resident application has a fraud alert or file blocks identified on their credit report, there are several adverse actions that can be taken. One possible action is to reject the application altogether, as fraud alerts and file blocks indicate potential issues with the applicant's credit history and credibility. Another action could be to require additional verification documents from the applicant to ensure their identity and financial background. Additionally, a landlord or property manager may choose to charge a higher security deposit or require a co-signer for the lease.