Common use of Credit Review Services Clause in Contracts

Credit Review Services. A. ACS and LENDER hereby agree to a PLUS credit review services arrangement whereby— (1) LENDER agrees to make PLUS Loans to individuals eligible to be Borrowers pursuant to the terms of the Higher Education Act and any applicable Guarantor Regulations; (2) ACS agrees to act as an agent of LENDER for the receipt, evaluation, handling and maintenance of certain PLUS Loan credit information on behalf of LENDER, in order to assist LENDER in making decisions with respect to the approval or denial of PLUS Loans consistent with the terms of the Higher Education Act and any applicable Guarantor Regulations; and (3) LENDER makes the final lending decision, in accordance with the procedures established herein and such credit history appeal processes (relating to credit report errors or extenuating circumstances) as may be further determined by LENDER. B. ACS agrees to provide the following credit review services on behalf of LENDER: (1) Review Loan Applications for information required by credit bureaus for performing a credit check. In this regard, LENDER shall assure that all Loan Applications with co-Applicants shall include the social security number of each Applicant. LENDER or the Educational Institution of the Applicant(s) will be contacted if additional information is required. (2) Generate and submit to a national credit bureau appropriate Applicant information for the purpose of obtaining credit information for each Applicant. (3) Receive and evaluate a credit report from a national credit bureau for each Applicant. ACS shall be entitled to rely upon all information furnished to ACS by a national credit bureau and shall not be liable or responsible in any manner for any inaccuracy or error contained in the credit report obtained by ACS on LENDER’s behalf from a national credit bureau. (4) Identify each Applicant for a PLUS Loan who does not have an Adverse Credit history by generating and providing to LENDER a disbursement report related to loan origination.

Credit Review Services. A. ACS AFSA and LENDER hereby agree to a PLUS credit review services arrangement whereby—whereby – (1) LENDER agrees to make PLUS Loans to individuals eligible to be Borrowers pursuant to the terms of the Higher Education Act and any applicable Guarantor Regulations; (2) ACS AFSA agrees to act as an agent of LENDER for the receipt, evaluation, handling and maintenance of certain PLUS Loan credit information on behalf of LENDER, in order to assist LENDER in making decisions with respect to the approval or denial of PLUS Loans consistent with the terms of the Higher Education Act and any applicable Guarantor Regulations; and (3) LENDER makes the final lending decision, in accordance with the procedures established herein and such credit history appeal processes (relating to credit report errors or extenuating circumstances) as may be further determined by LENDER. B. ACS AFSA agrees to provide the following credit review services on behalf of LENDER: (1) Review Loan Applications for information required by credit bureaus for performing a credit check. In this regard, LENDER shall assure that all Loan Applications with co-Applicants shall include the social security number of each Applicant. LENDER or the Educational Institution of the Applicant(s) will be contacted if additional information is required. (2) Generate and submit to a national credit bureau appropriate Applicant information for the purpose of obtaining credit information for each Applicant. (3) Receive and evaluate a credit report from a national credit bureau for each Applicant. ACS AFSA shall be entitled to rely upon all information furnished to ACS AFSA by a national credit bureau and shall not be liable or responsible in any manner for any inaccuracy or error contained in the credit report obtained by ACS AFSA on LENDER’s behalf from a national credit bureau. (4) Identify each Applicant for a PLUS Loan who does not have an Adverse Credit history by generating and providing to LENDER a disbursement report related to loan origination. (5) Identify each Applicant for a PLUS Loan who has an Adverse Credit history by generating and providing to LENDER a credit review report which:

Credit Review Services. A. ACS and LENDER hereby agree to a PLUS credit review services arrangement whereby— (1) LENDER agrees to make PLUS Loans to individuals eligible to be Borrowers pursuant to the terms of the Higher Education Act and any applicable Guarantor Regulations; (2) ACS agrees to act as an agent of LENDER for the receipt, evaluation, handling and maintenance of certain PLUS Loan credit information on behalf of LENDER, in order to assist LENDER in making decisions with respect to the approval or denial of PLUS Loans consistent with the terms of the Higher Education Act and any applicable Guarantor Regulations; and (3) LENDER makes the final lending decision, in accordance with the procedures established herein and such credit history appeal processes (relating to credit report errors or extenuating circumstances) as may be further determined by LENDER. B. ACS agrees to provide the following credit review services on behalf of LENDER: (1) Review Loan Applications for information required by credit bureaus for performing a credit check. In this regard, LENDER shall assure that all Loan Applications with co-Applicants shall include the social security number of each Applicant. LENDER or the Educational Institution of the Applicant(s) will be contacted if additional information is required. (2) Generate and submit to a national credit bureau appropriate Applicant information for the purpose of obtaining credit information for each Applicant. (3) Receive and evaluate a credit report from a national credit bureau for each Applicant. ACS shall be entitled to rely upon all information furnished to ACS by a national credit bureau and shall not be liable or responsible in any manner for any inaccuracy or error contained in the credit report obtained by ACS on LENDER’s behalf from a national credit bureau. (4) Identify each Applicant for a PLUS Loan who does not have an Adverse Credit history by generating . Confidential and providing to LENDER a disbursement report related to loan origination.Proprietary 35

Credit Review Services. A. ACS X. XXXX and LENDER XXXXXX hereby agree to a PLUS credit review services arrangement whereby— (1) LENDER XXXXXX agrees to make PLUS Loans to individuals eligible to be Borrowers pursuant to the terms terns of the Higher Education Act and any applicable Guarantor Regulations; (2) ACS AFSA agrees to act as an agent of LENDER XXXXXX for the receipt, evaluation, handling and maintenance of certain PLUS Loan credit information on behalf of LENDER, in order to assist LENDER XXXXXX in making decisions with respect to the approval or denial of PLUS Loans consistent with the terms of the Higher Education Act and any applicable Guarantor Regulations; and (3) LENDER XXXXXX makes the final lending leading decision, in accordance with the procedures established herein and such credit history appeal processes (relating to credit report errors or extenuating circumstances) as may be further determined by LENDERXXXXXX. B. ACS X. XXXX agrees to provide the following credit review services on behalf of LENDER: (1) Review Loan Applications for information required by credit bureaus for performing a credit check. In this regard, LENDER shall assure that all Loan Applications with co-Applicants shall include the social security number of each Applicant. LENDER or the Educational Institution of the Applicant(s) will be contacted if additional information is required. (2) Generate and submit to a national credit bureau appropriate Applicant information for the purpose of obtaining credit information for each Applicant. (3) Receive and evaluate a credit report from a national credit bureau for each Applicant. ACS AFSA shall be entitled to rely upon all information furnished to ACS AFSA by a national credit bureau and shall not be liable or responsible in any manner for any inaccuracy or error contained in the credit report obtained by ACS AFSA on LENDERXXXXXX’s behalf from a national credit bureau. (4) Identify each Applicant for a PLUS Loan who does not have an Adverse Credit history by generating and providing to LENDER a disbursement report related to loan origination. (5) Identify each Applicant for a PLUS Loan who has an Adverse Credit history by generating and providing to LENDER a credit review report which: a. Lists the name, address, and social security number of each Applicant who has an Adverse Credit history; b. Lists the Adverse Credit factors fount on the Applicant’s credit bureau report which, absent extraordinary circumstances, require credit denial; and c. Provides the name and address of the credit bureau accessed for the Adverse Credit history information. (6) Generate and mail to the Applicant an “adverse action” letter on behalf of LENDER and in XXXXXX’s name with respect to each Applicant who has been identified as having an Adverse Credit history, within 30 days after AFSA receives a completed Loan Application from LENDER and the credit bureau report and otherwise comply with the Equal Credit Opportunity Act (ECOA) and Regulation B thereunder to the extent applicable to AFSA’s services. (7) Upon request by XXXXXX from time to time, return the original or a copy of each Loan Application processed by AFSA (other than electronically transmitted Loan Applications, which will not be transmitted to LENDER) for which an Adverse Credit history exists, and other information in AFSA’s possession regarding its review of such Loan Application. (8) Maintain accurate books and records of as transactions hereunder, including Adverse Credit history reports of Applicants processed for XXXXXX xxxxxxxxx. X. XXXXXX agrees that, with respect to all PLUS Loans processed under these PLUS Credit Review Services Terms, it will: (1) Assure that all information set forth in Loan Applications and all other information provided to AFSA in connection with the performance of its services hereunder is accurate and complete. (2) Be responsible for handling and evaluating all appeals of credit denial.

Credit Review Services. A. ACS SERVICER and LENDER hereby agree to a PLUS credit review services arrangement whereby— (1) LENDER agrees to make PLUS Loans to individuals eligible to be Borrowers pursuant to the terms of the Higher Education Act and any applicable Guarantor Regulations; (2) ACS SERVICER agrees to act as an agent of LENDER for the receipt, evaluation, handling and maintenance of certain PLUS Loan credit information on behalf of LENDER, in order to assist LENDER in making decisions with respect to the approval or denial of PLUS Loans consistent with the terms of the Higher Education Act and any applicable Guarantor Regulations; and (3) LENDER makes the final lending decision, in accordance with the procedures established herein and such credit history appeal processes (relating to credit report errors or extenuating circumstances) as may be further determined by LENDER. B. ACS SERVICER agrees to provide the following credit review services on behalf of LENDER: (1) Review Loan Applications for information required by credit bureaus for performing a credit check. In this regard, LENDER shall assure that all Loan Applications with co-Applicants shall include the social security number of each Applicant. LENDER or the Educational Institution of the Applicant(s) will be contacted if additional information is required. (2) Generate and submit to a national credit bureau appropriate Applicant information for the purpose of obtaining credit information for each Applicant. (3) Receive and evaluate a credit report from a national credit bureau for each Applicant. ACS SERVICER shall be entitled to rely upon all information furnished given to ACS SERVICER by a national credit bureau and shall not be liable or responsible in any manner for any inaccuracy or error contained in the credit report obtained by ACS SERVICER on LENDER’s ’S behalf from a national credit bureau. (4) Identify each Applicant for a PLUS Loan who does not have an Adverse Credit history by generating and providing to LENDER a disbursement report related to loan origination. (5) Identify each Applicant for a PLUS Loan who has an Adverse Credit history by generating and providing to LENDER a credit review report which: a) Lists the name, address, and social security number of each Applicant who has an Adverse Credit history; b) Lists the Adverse Credit factors found on the Applicant’s credit bureau report which, absent extraordinary circumstances, require credit denial; and

Credit Review Services. A. ACS and LENDER hereby agree to a PLUS credit review services arrangement whereby— (1) LENDER agrees to make PLUS Loans to individuals eligible to be Borrowers pursuant to the terms of the Higher Education Act and any applicable Guarantor Regulations; (2) ACS agrees to act as an agent of LENDER for the receipt, evaluation, handling and maintenance of certain PLUS Loan credit information on behalf of LENDER, in order to assist LENDER in making decisions with respect to the approval or denial of PLUS Loans consistent with the terms of the Higher Education Act and any applicable Guarantor Regulations; and (3) LENDER makes the final lending decision, in accordance with the procedures established herein and such credit history appeal processes (relating to credit report errors or extenuating circumstances) as may be further determined by LENDER. B. ACS agrees to provide the following credit review services on behalf of LENDER: (1) Review Loan Applications for information required by credit bureaus for performing a credit check. In this regard, LENDER shall assure that all Loan Applications with co-Applicants shall include the social security number of each Applicant. LENDER or the Educational Institution of the Applicant(s) will be contacted if additional information is required. (2) Generate and submit to a national credit bureau appropriate Applicant information for the purpose of obtaining credit information for each Applicant. (3) Receive and evaluate a credit report from a national credit bureau for each Applicant. ACS shall be entitled to rely upon all information furnished to ACS by a national credit bureau and shall not be liable or responsible in any manner for any inaccuracy or error contained in the credit report obtained by ACS on LENDER’s behalf from a national credit bureau. (4) Identify each Applicant for a PLUS Loan who does not have an Adverse Credit history by generating and providing to LENDER a disbursement report related to loan origination. (5) Identify each Applicant for a PLUS Loan who has an Adverse Credit history by generating and providing to LENDER a credit review report which: a. Lists the name, address, and social security number of each Applicant who has an Adverse Credit history; b. Lists the Adverse Credit factors found on the Applicant’s credit bureau report which, absent extraordinary circumstances, require credit denial; and c. Provides the name and address of the credit bureau accessed for the Adverse Credit history information. (6) Generate and mail to the Applicant an “adverse action” letter on behalf of LENDER and in LENDER’s name with respect to each Applicant who has been identified as having an Adverse Credit history, within 30 days after ACS receives a completed Loan Application from LENDER and the credit bureau report and otherwise comply with the Equal Credit Opportunity Act (ECOA) and Regulation B thereunder to the extent applicable to ACS’s services. (7) Upon request by LENDER from time to time, return the original or a copy of each Loan Application processed by ACS (other than electronically transmitted Loan Applications, which will not be transmitted to LENDER) for which an Adverse Credit history exists, and other information in ACS’s possession regarding its review of such Loan Application. (8) Maintain accurate books and records of all transactions hereunder, including Adverse Credit history reports of Applicants processed for LENDER hereunder. C. LENDER agrees that, with respect to all PLUS Loans processed under these PLUS Credit Review Services Terms, it will; (1) Assure that all information set forth in Loan Applications and all other information provided to ACS in connection with the performance of its services hereunder is accurate and complete. (2) Be responsible for handling and evaluating all appeals of credit denial.

Credit Review Services. A. ACS [•] and LENDER hereby agree to a PLUS credit review services arrangement whereby— (1) LENDER agrees to make PLUS Loans to individuals eligible to be Borrowers pursuant to the terms of the Higher Education Act and any applicable Guarantor Regulations; (2) ACS [•] agrees to act as an agent of LENDER for the receipt, evaluation, handling and maintenance of certain PLUS Loan credit information on behalf of LENDER, in order to assist LENDER in making decisions with respect to the approval or denial of PLUS Loans consistent with the terms of the Higher Education Act and any applicable Guarantor Regulations; and (3) LENDER makes the final lending decision, in accordance with the procedures established herein and such credit history appeal processes (relating to credit report errors or extenuating circumstances) as may be further determined by LENDER. B. ACS [•] agrees to provide the following credit review services on behalf of LENDER: (1) Review Loan Applications for information required by credit bureaus for performing a credit check. In this regard, LENDER shall assure that all Loan Applications with co-Applicants shall include the social security number of each Applicant. LENDER or the Educational Institution of the Applicant(s) will be contacted if additional information is required. (2) Generate and submit to a national credit bureau appropriate Applicant information for the purpose of obtaining credit information for each Applicant. (3) Receive and evaluate a credit report from a national credit bureau for each Applicant. ACS [•] shall be entitled to rely upon all information furnished to ACS [•] by a national credit bureau and shall not be liable or responsible in any manner for any inaccuracy or error contained in the credit report obtained by ACS [•] on LENDER’s behalf from a national credit bureau. (4) Identify each Applicant for a PLUS Loan who does not have an Adverse Credit history by generating and providing to LENDER a disbursement report related to loan origination. (5) Identify each Applicant for a PLUS Loan who has an Adverse Credit history by generating and providing to LENDER a credit review report which:

Credit Review Services. A. ACS AFSA and LENDER hereby agree to a PLUS credit review services arrangement wherebywhereby — (1) LENDER agrees to make PLUS Loans to individuals eligible to be Borrowers pursuant to the terms of the Higher Education Act and any applicable Guarantor Regulations; (2) ACS AFSA agrees to act as an agent of LENDER for the receipt, evaluation, handling and maintenance of certain PLUS Loan credit information on behalf of LENDER, in order to assist LENDER in making decisions with respect to the approval or denial of PLUS Loans consistent with the terms of the Higher Education Act and any applicable Guarantor Regulations; and (3) LENDER makes the final lending decision, in accordance with the procedures established herein and such credit history appeal processes (relating to credit report errors or extenuating circumstances) as may be further determined by LENDER. B. ACS AFSA agrees to provide the following credit review services on behalf of LENDER:. (1) Review Loan Applications for information required by credit bureaus for performing a credit check. In this regard, LENDER shall assure that all Loan Applications with co-Applicants shall include the social security number of each Applicant. Applicant LENDER or the Educational Institution of the Applicant(s) will be contacted if additional information is required. (2) Generate and submit to a national credit bureau appropriate Applicant information for the purpose of obtaining credit information for each Applicant. (3) Receive and evaluate a credit report from a national credit bureau for each Applicant. ACS Applicant AFSA shall be entitled to rely upon all information furnished to ACS AFSA by a national credit bureau and shall not be liable or responsible in any manner for any inaccuracy or error contained in the credit report obtained by ACS AFSA on LENDER’s ’S behalf from a national credit bureau. (4) Identify each Applicant for a PLUS Loan who does not have an Adverse Credit history by generating and providing to LENDER a disbursement report related to loan origination. (5) Identify each Applicant for a PLUS Loan who has an Adverse Credit history by generating and providing to LENDER a credit review report which a Lists the name, address, and social security number of each Applicant who has an Adverse Credit history; b Lists the Adverse Credit factors found on the Applicant’s credit bureau report which, absent extraordinary circumstances, require credit denial; and

Credit Review Services. A. ACS and LENDER hereby agree to a PLUS credit review services arrangement whereby— (1) LENDER agrees to make PLUS Loans to individuals eligible to be Borrowers pursuant to the terms of the Higher Education Act and any applicable Guarantor Regulations; (2) ACS agrees to act as an agent of LENDER for the receipt, evaluation, handling and maintenance of certain PLUS Loan credit information on behalf of LENDER, in order to assist LENDER in making decisions with respect to the approval or denial of PLUS Loans consistent with the terms of the Higher Education Act and any applicable Guarantor Regulations; and (3) LENDER makes the final lending decision, in accordance with the procedures established herein and such credit history appeal processes (relating to credit report errors or extenuating circumstances) as may be further determined by LENDER. B. ACS agrees to provide the following credit review services on behalf of LENDER: (1) Review Loan Applications for information required by credit bureaus for performing a credit check. In this regard, LENDER shall assure that all Loan Applications with co-Applicants shall include the social security number of each Applicant. LENDER or the Educational Institution of the Applicant(s) will be contacted if additional information is required. (2) Generate and submit to a national credit bureau appropriate Applicant information for the purpose of obtaining credit information for each Applicant. (3) Receive and evaluate a credit report from a national credit bureau for each Applicant. ACS shall be entitled to rely upon all information furnished to ACS by a national credit bureau and shall not be liable or responsible in any manner for any inaccuracy or error contained in the credit report obtained by ACS on LENDER’s behalf from a national credit bureau. (4) Identify each Applicant for a PLUS Loan who does not have an Adverse Credit history by generating and providing to LENDER a disbursement report related to loan origination.. Confidential and Proprietary 32

Credit Review Services. A. ACS SERVICER and LENDER ISSUER hereby agree to a PLUS credit review services arrangement whereby— (1) LENDER ISSUER agrees to make PLUS Loans to individuals eligible to be Borrowers pursuant to the terms of the Higher Education Act and any applicable Guarantor Regulations; (2) ACS SERVICER agrees to act as an agent of LENDER ISSUER for the receipt, evaluation, handling and maintenance of certain PLUS Loan credit information on behalf of LENDERISSUER, in order to assist LENDER ISSUER in making decisions with respect to the approval or denial of PLUS Loans consistent with the terms of the Higher Education Act and any applicable Guarantor Regulations; and (3) LENDER ISSUER makes the final lending decision, in accordance with the procedures established herein and such credit history appeal processes (relating to credit report errors or extenuating circumstances) as may be further determined by LENDERISSUER. B. ACS SERVICER agrees to provide the following credit review services on behalf of LENDERISSUER: (1) Review Loan Applications for information required by credit bureaus for performing a credit check. In this regard, LENDER ISSUER shall assure that all Loan Applications with co-Applicants shall include the social security number of each Applicant. LENDER ISSUER or the Educational Institution of the Applicant(s) will be contacted if additional information is required. (2) Generate and submit to a national credit bureau appropriate Applicant information for the purpose of obtaining credit information for each Applicant. (3) Receive and evaluate a credit report from a national credit bureau for each Applicant. ACS SERVICER shall be entitled to rely upon all information furnished given to ACS SERVICER by a national credit bureau and shall not be liable or responsible in any manner for any inaccuracy or error contained in the credit report obtained by ACS SERVICER on LENDER’s ISSUER’S behalf from a national credit bureau. (4) Identify each Applicant for a PLUS Loan who does not have an Adverse Credit history by generating and providing to LENDER ISSUER a disbursement report related to loan origination. (5) Identify each Applicant for a PLUS Loan who has an Adverse Credit history by generating and providing to ISSUER a credit review report which: a) Lists the name, address, and social security number of each Applicant who has an Adverse Credit history; b) Lists the Adverse Credit factors found on the Applicant’s credit bureau report which, absent extraordinary circumstances, require credit denial; and

Credit Review Services. A. ACS and LENDER hereby agree to a PLUS credit review services arrangement whereby— (1) whereby-- LENDER agrees to make PLUS Loans to individuals eligible to be Borrowers pursuant to the terms of the Higher Education Act and any applicable Guarantor Regulations; (2) ; [LOGO OF ACS] FEDERAL FFEL --------------------------------------------- SERVICING AGREEMENT ACS agrees to act as an agent of LENDER for the receipt, evaluation, handling and maintenance of certain PLUS Loan credit information on behalf of LENDER, in order to assist LENDER in making decisions with respect to the approval or denial of PLUS Loans consistent with the terms of the Higher Education Act and any applicable Guarantor Regulations; and (3) and LENDER makes the final lending decision, in accordance with the procedures established herein and such credit history appeal processes (relating to credit report errors or extenuating circumstances) as may be further determined by LENDER. B. ACS agrees to provide the following credit review services on behalf of LENDER: (1) : Review Loan Applications for information required by credit bureaus for performing a credit check. In this regard, LENDER shall assure that all Loan Applications with co-Applicants shall include the social security number of each Applicant. LENDER or the Educational Institution of the Applicant(s) will be contacted if additional information is required. (2) . Generate and submit to a national credit bureau appropriate Applicant information for the purpose of obtaining credit information for each Applicant. (3) . Receive and evaluate a credit report from a national credit bureau for each Applicant. ACS shall be entitled to rely upon all information furnished to ACS by a national credit bureau and shall not be liable or responsible in any manner for any inaccuracy or error contained in the credit report obtained by ACS on LENDER’s 's behalf from a national credit bureau. (4) . Identify each Applicant for a PLUS Loan who does not have an Adverse Credit history by generating and providing to LENDER a disbursement report related to loan origination. Identify each Applicant for a PLUS Loan who has an Adverse Credit history by generating and providing to LENDER a credit review report which: a. Lists the name, address, and social security number of each Applicant who has an Adverse Credit history; b. Lists the Adverse Credit factors found on the Applicant's credit bureau report which, absent extraordinary circumstances, require credit denial; and c. Provides the name and address of the credit bureau accessed for the Adverse Credit history information. Generate and mail to the Applicant an "adverse action" letter on behalf of LENDER and in LENDER's name with respect to each Applicant who has been identified as having an Adverse Credit history, within 30 days after ACS receives a completed Loan Application from LENDER and the credit bureau report. Upon request by LENDER from time to time, return the original or a copy of each Loan Application processed by ACS (other than electronically transmitted Loan Applications, which will not be transmitted to LENDER) for which an Adverse Credit history exists, and other information in ACS's possession regarding its review of such Loan Application. Maintain accurate books and records of all transactions hereunder, including Adverse Credit history reports of Applicants processed for LENDER hereunder. [LOGO OF ACS] FEDERAL FFEL --------------------------------------------- SERVICING AGREEMENT C. LENDER agrees that, with respect to all PLUS Loans processed under these PLUS Credit Review Services Terms, it will: Assure that all information set forth in Loan Applications and all other information provided to ACS in connection with the performance of its services hereunder is accurate and complete. Be responsible for handling and evaluating all appeals of credit denial. Communicate, if appropriate after the credit denial appeal process is completed, its approval of a Loan Application to ACS for each Applicant which ACS previously identified as possessing an Adverse Credit history by submitting a letter attached to the Loan Application (or a copy of the Loan Application) requesting the PLUS Loan to be guaranteed, due to error or other extenuating circumstances relating to the original credit information obtained by ACS on LENDER's behalf, and properly documenting such error correction or other extenuating circumstances. D. Nothing contained in these PLUS Credit Review Services Terms shall make ACS a loan production office or a holder or originator of any PLUS Loan, the application of which has been processed hereunder. LENDER acknowledges that it has sole authority and responsibility for the decision to approve or deny PLUS Loans hereunder.

Credit Review Services. A. ACS AFSA and LENDER hereby agree to a PLUS credit review services arrangement whereby— (1) LENDER agrees to make PLUS Loans to individuals eligible to be Borrowers pursuant to the terms of the Higher Education Act and any applicable Guarantor Regulations; (2) ACS AFSA agrees to act as an agent of LENDER for the receipt, evaluation, handling and maintenance of certain PLUS Loan credit information on behalf of LENDER, in order to assist LENDER in making decisions with respect to the approval or denial of PLUS Loans consistent with the terms of the Higher Education Act and any applicable Guarantor Regulations; and (3) LENDER makes the final lending decision, in accordance with the procedures established herein and such credit history appeal processes (relating to credit report errors or extenuating circumstances) as may be further determined by LENDER. B. ACS AFSA agrees to provide the following credit review services on behalf of LENDER: (1) Review Loan Applications for information required by credit bureaus for performing a credit check. In this regard, LENDER shall assure that all Loan Applications with co-Applicants shall include the social security number of each Applicant. LENDER or the Educational Institution of the Applicant(s) will be contacted if additional information is required. (2) Generate and submit to a national credit bureau appropriate Applicant information for the purpose of obtaining credit information for each Applicant. (3) Receive and evaluate a credit report from a national credit bureau for each Applicant. ACS AFSA shall be entitled to rely upon all information furnished to ACS AFSA by a national credit bureau and shall not be liable or responsible in any manner for any inaccuracy or error contained in the credit report obtained by ACS AFSA on LENDER’s behalf from a national credit bureau. (4) Identify each Applicant for a PLUS Loan who does not have an Adverse Credit history by generating and providing to LENDER a disbursement report related to loan origination. (5) Identify each Applicant for a PLUS Loan who has an Adverse Credit history by generating and providing to LENDER a credit review report which: a. Lists the name, address, and social security number of each Applicant who has an Adverse Credit history; b. Lists the Adverse Credit factors found on the Applicant’s credit bureau report which, absent extraordinary circumstances, require credit denial; and c. Provides the name and address of the credit bureau accessed for the Adverse Credit history information. (6) Generate and mail to the Applicant an “adverse action” letter on behalf of LENDER and in LENDER’s name with respect to each Applicant who has been identified as having an Adverse Credit history, within 30 days after AFSA receives a completed Loan Application from LENDER and the credit bureau report and otherwise comply with the Equal Credit Opportunity Act (ECOA) and Regulation B thereunder to the extent applicable to AFSA’s services. (7) Upon request by LENDER from time to time, return the original or a copy of each Loan Application processed by AFSA (other than electronically transmitted Loan Applications, which will not be transmitted to LENDER) for which an Adverse Credit history exists, and other information in AFSA’s possession regarding its review of such Loan Application. (8) Maintain accurate books and records of all transactions hereunder, including Adverse Credit history reports of Applicants processed for LENDER hereunder. C. LENDER agrees that, with respect to all PLUS Loans processed under these PLUS Credit Review Services Terms, it will: (1) Assure that all information set forth in Loan Applications and all other information provided to AFSA in connection with the performance of its services hereunder is accurate and complete. (2) Be responsible for handling and evaluating all appeals of credit denial.