2023-564-E-Housing Dept-ONLINE Information Services-Employment Verification service

Browse Search

Exhibit “A” Credit Scoring Services Subscriber is a credit grantor that purchases Consumer Reports from ONLINE pursuant to the Agreement in connection with credit transactions involving the consumer subjects of such Consumer Reports.As an enhancement to the basic Consumer Report, ONLINE has offered Subscriber the opportunity to purchase one or more credit risk scores provided by Trans Union, Equifax, or Experian; including, but not limited to, Fair Isaac & Co. (FICO) and Vantage score models. Use of these scoring models may require additional addendums and be subject to additional terms of use. Subscriber recognizes that all credit risk scores offered hereunder are statistical scores and may not be predictive as to any particular individual.No such score is intended to characterize any individual as to credit capability.Subscriber recognizes that factors other than credit risk scores should be considered in making a credit decision, including the Credit Report, the individual credit application, economic factors, and various other pertinent information. A statement of the factors that significantly contributed to the credit risk score may accompany the score.If so, such information may be disclosed to the consumer as the reason for taking adverse action, as required by Regulation B.However, the credit risk score itself is proprietary and may not be used as the reason for adverse action under Regulation B.In addition, under the Fair Credit Reporting Act, credit risk scores are not considered part of the consumer ’s file.Accordingly, Subscriber agrees only to disclose the actual credit risk score to the consumer when required by law and accompanied by the corresponding reason codes. SUBSCRIBER HAS MADE ITS OWN ANALYSIS OF THE CREDIT RISK SCORE OR SCORES SELECTED BY SUBSCRIBER, INCLUDING THE RELIABILITY OF USING SUCH SCORES IN CONNECTION WITH SUBSCRIBER’S CREDIT DECISION.ONLINE AND ITS AGENTS SHALL NOT BE LIABLE FOR ANY LOSS, COSTS, DAMAGES, OR EXPENSE INCURRED BY SUBSCRIBER RESULTING FROM SUBSCRIBER’S USE OF CREDIT RISK SCORES, OR THE INACCURACY THEREOF.IN NO EVENT SHALL ONLINE NOR ITS AGENTS BE LIABLE TO SUBSCRIBER FOR ANY INCIDENTAL, INDIRECT, PUNITIVE, OR CONSEQUENTIAL DAMAGES FOR A CLAIM BY SUBSCRIBER RESULTING FROM SUBSCRIBER’S USE OF ANY CREDIT RISK SCORE.THE TOTAL AGGREGATE LIABILITY OF ONLINE AND ITS AGENTS FOR A CLAIM BY SUBSCRIBER RELATED TO SUBSCRIBER’S USE OF ANY CREDIT RISK SCORE SHALL NOT EXCEED THE SURCHARGE PAID BY SUBSCRIBER FOR THE CREDIT RISK SCORE TO WHICH SUCH CLAIM RELATES. Subscriber certifies that in using the FICO/VANTAGE Credit Scoring Models that: A.Subscriber will only use the permissible purpose as outlined within ONLINE’s Subscriber Service Agreement (hereinafter referred to as “Agreement”) and the Application for Service in accordance with the FCRA to obtain the information derived from the Fair Isaac and Company Scoring Model (hereinafter referred to as “FICO”) or the Vantage Scoring Model. B.Subscriber will limit Subscriber’s use of the scores and reason codes solely to use in Subscriber ’s own business with no right to transfer or otherwise sell, license, sublicense or distribute said scores or reason codes to third parties. C.Subscriber will maintain internal procedures to minimize the risk of unauthorized disclosure and agree that such scores and reason codes will be held in strict confidence and disclosed only to those employees with a “need to know” and to no other person. D. Notwithstanding any contrary provision of the Agreement, Subscriber may disclose the scores provided to Subscriber under the Agreement to the consumer, when accompanied by the corresponding reason codes, in the context of bona fide lending transactions and decisions only as required by law. E. Subscriber will comply with all applicable laws and regulations in using the scores and reason codes purchased from ONLINE. F.Subscriber or any of its employees, agents or subcontractors will not use any trademarks, service marks, logos, names, or any other proprietary designations, whether registered or unregistered, of the Data Providers or Fair, Isaac and Company, or their affiliates without such entity’s prior written consent. G.Subscriber will not in any manner, directly or indirectly attempt to discover or reverse engineer any confidential and proprietary criteria developed or used by the Data Providers/Fair, Isaac in performing the FICO/Vantage Scoring Model. H.Subscriber will not use any of the scores provided for their own model development or model calibration. DocuSign Envelope ID: ED55B3D5-BAD0-45B4-977B-F09C4091C16A