I recently accepted a position as a mortgage loan originator with a bank. They explained according to federal law they must run a credit check to prove my financial responsibility. My credit is poor but mainly because of medical bills. I did receive an email from them to explain a charged off account in the amount of 60 dollars from 6 years ago. My questions are what federal law is this that requires the credit for these types of positions? Do they only inquire about charged off lending accounts as this was the only account they asked me about i just want to make sure the medical stuff wont be an issue for this later.
Read more: Background credit check for loan originator?
