LP3 – Create ECOA Letter
Create ECOA Letter
- Create ECOA (Equal Credit Opportunity Act) Credit Denial Letter for when you deny credit to an applicant.
- There are two ways to create the ECOA letter. One is by clicking on Create Account top menu to get to the application page.
- Fill out the application, pull the applicant’s credit by clicking on the Pull Report button. Make sure your login ID is setup in LP3 for the bureau the report will be pulled from.
- Review the application by clicking on the View Report button. If the applicant is not creditworthy, click Create ECOA button.
- If you want to create the ECOA at a later time, from the Main LP3 Menu click the Credit Menu at the top and then Search Menu.
- Application Search Screen will allow you to view an application, create ECOA letter, or make a loan.
- Click the ECOA button for the specific customer.
- Make sure customers name, address, type of letter is correct and reason is filled out if required.
- Click the Create Letter button to generate the letter for printing.
- Exit all screens back to the main menu.
Create ECOA (Equal Credit Opportunity Act) Credit Denial Letter
ECOA Create, Search, Test and Configuration settings training video