Under Republic Act No. 9510 (or the Credit Information Systems Act [CISA]) and its Implementing Rules and Regulations (IRR), the National Home Mortgage Corporation is required to submit certain information or data of its borrowers (including basic positive and negative credit data and exposure profile, as defined in R.A. No. 9510 and its IRR) and regular corrections/updates thereto, to the Credit Information Corporation (CIC), for consolidation and authorized disclosure.
The consolidated basic credit data may be disclosed to or accessed by Data Subjects (borrowers), as well as, by Accessing Entities, Special Accessing Entities and Outsource Entities (as defined in R.A. No. 9510 and its IRR), including other lenders and credit reporting agencies authorized or accredited by the CIC, under conditions of strict confidentiality and for the sole purpose of establishing the creditworthiness of borrowers.