Equifax Sued For Denying Underwriting Access

Law360, New York (September 8, 2008, 12:00 AM EDT) -- A consumer reporting agency trade group has accused major credit bureau Equifax Inc. of blocking its members from accessing mortgage buyer Freddie Mac's automated underwriting system and thereby impeding competition among mortgage credit-reporting agencies.

The National Credit Reporting Association Inc. sued Equifax Monday in the U.S. District Court for the District of Maryland, alleging the bureau has threatened to deny access to Freddie Mac's “Loan Prospector,” or LP, which assesses credit risks for mortgage loan applications.

The trade group accuses Equifax of anti-competitive conduct, and seeks...
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