How to add or edit borrower consumer credit information?

Field:

Description:

Date Opened

Report the date the account was originally opened. Retain the original Date Opened regardless of future activity, such as transfer, refinance, lost or stolen card, etc.

Date Closed

For all portfolio types, contains the date the account was closed or paid. For Line of Credit, Open or Revolving accounts, there may be a balance due.

Portfolio Type

Contains the one-character abbreviation for type of portfolio. Values available:

• C = Line of credit
• I = Installment
• M = Mortgage
• O = Open account
• R = Revolving

Account Type

Contains the account type code that identifies the account classification. The Account Type Codes topic provides a description of the type codes in numeric sequence.

Account Status

Contains the status code that properly identifies the current condition of the account as of the Billing Date. Exhibit 4 provides a description of these codes. The Payment Rating must also be reported when the Account Status Code is 05, 13, 65, 88, 89, 94, or 95.

Special Comments may be used in conjunction with the Account Status to further define the account.

Compliance Code

Allows the reporting of a condition that is required for legal compliance according to the Fair Credit Reporting Act (FCRA) or Fair Credit Billing Act (FCBA). Values available:

• XA    Account closed at consumer's request.
• XB    Account information disputed by consumer. (Meets requirements of the Fair Credit Reporting Act)
• XC    Completed investigation of FCRA dispute consumer           disagrees.
• XD    Account closed at consumer's request and in dispute under FCRA.
• XE    Account closed at consumer's request and dispute investigation completed, consumer disagrees.   (To be used for FCRA or FCRA disputes.) 
• XF    Account in dispute under Fair Credit Billing Act.
• XG    FCBA Dispute resolved, consumer disagrees.
• XH   Account previously in dispute now resolved, reported by data furnisher. 
• XJ    Account closed at consumer's request and in dispute under FCBA.
• XR    Removes the most recently reported Compliance Condition Code. 
  • NOTE: Do not use XR as a default value.

The code should be reported one time and will be deleted only when another code or the XR (Remove value) is reported.

For example: if an account is reported with Compliance Condition Code XB in July 1998, and is then reported with Compliance Condition Code XC in November 1998, the XB is replaced with the XC. If the account is then reported in January 1999 with code XR, the XC value is removed.

NOTE: Compliance Condition Codes XA, XD, XE and XJ, which refer to accounts closed at consumers request, apply to Portfolio Types C (Line of Credit), O (Open) and R (Revolving).

Special Comment

Used in conjunction with Account Status and Payment Rating to further define the account (e.g., closed accounts or adjustments pending). The Special Comment Code must be reported as long as the condition applies.

The Special Comment Codes topic provides a description of the comments available.

Consumer Indicator

Contains a value that indicates a special condition of the account that applies to the consumer. This special condition may be that a bankruptcy was filed, discharged, dismissed or withdrawn; a debt was reaffirmed; or the consumer cannot be located or is now located.

The indicator should be reported one time and will be deleted only when the appropriate removal code (Q, S, U) is reported.

For additional information read Consumer Information Indicators.

Transaction Type

Used to indicate a new record, a new borrower or a change in consumer identification. Values available:

• 1    Newly opened account, or new borrower associated with existing account.
• 2    Name change.
• 3    Address change.
• 5    Social Security Number change.
• 6    Name & Address change.
• 8    Name & Social Security Number change.
• 9    Address & Social Security Number change.
• A    Name, Address and/or Social Security Number change.

If account or borrower is not new, or if no change in consumer information, blank fill.

ECOA Code

Defines the relationship of the consumer to the account and designates the account as joint, individual, etc., in compliance with the Equal Credit Opportunity Act.

Values available:

• 1    Individual (This individual has contractual responsibility for this account and is primarily responsible for its payment.
• 2    Joint Contractual Liability (Joint account for which this borrower has contractual responsibility.
• 7    Maker (Account for which subject is liable but a co-make is liable is make defaults.
• T   Association with account terminated.
• W Business/Commercial (Used to identify that the company reported in the name fields is contractually liable for the account.
• X   Consumer Deceased.
• Z   Delete Borrower.
  • NOTE: Only inaccurately reported consumers should be deleted.

Original Charge-off Amount

For Status Codes 64 and 97 (all portfolio types), report the original amount charged to loss, regardless of the declining balance.

(Report whole dollars only)

If payments are received from the consumer, report the outstanding balance in the Current Balance and Amount Past Due fields.

Field:

Description:

Report Employment Information

Check this option to report employment information.

TIP: The fields below will be greyed out & not editable until you check the Report Employment Information box. 

Employer

Enter tame of the employer.

Street (1)

Enter the mailing address for the employer.

Street (2)

Enter the second line of employer's address, if needed.

City

Enter the city name for employer's address. 

State

Choose the U.S. Postal Service state abbreviation for the address of the employer.

Zip

Enter the zip code of the employer's address. Use entire field if reporting 9-digit zip codes.

Occupation

Report the consumer's title or position within the company.

Field:

Description:

First Delinquency

This date is used to ensure compliance with the Fair Credit Reporting Act. The system will maintain this field automatically.

For Account Status Codes 61-65, 71, 78, 80, 82-84, 88-89 and 93-97, report the date of the first delinquency that led to the status being reported. If a delinquent account becomes current, the Date of First Delinquency should be blank. Then, if the account goes delinquent again, the Date of First Delinquency starts over with the new first delinquency date.

For Account Status Codes 05, 13, 65, 88, 89, 94 or 95, if the Payment Rating is 1, 2, 3, 4, 5, 6, G or L, report the date of the first delinquency that led to the Payment Rating being reported.

For Consumer Information Indicators E-H (Discharged Bankruptcies), 1A (Personal Receivership) and V-Y (Reaffirmation of Debt Rescinded with Bankruptcy Chapters), if the account is current (Status Code 11), report the date of the bankruptcy/personal receivership notification.

Last Period Reported

The date this account was last reported to the credit agencies. This field is for informational purposes only and is read-only. 

Payment History Profile

The system will maintain this field automatically and is read-only. It should only be manually updated to correct reporting errors or when converting from another credit reporting system. Click the Payment History Profile to manually update the field. 

This field contains up to 24 months of consecutive payment activity for the previous 24 calendar months prior to the activity date being reported. Report one month's payment record in each character position from the left to right, most recent to least recent order. The first character should represent the previous month's status.

Values available:

• 0    0 payments past due (current account).
• 1    30 - 59 days past due date.
• 2    60 - 89 days past due date.
• 3    90 - 119 days past due date.
• 4    120 - 149 days past due date.
• 5    150 - 179 days past due date.
• 6    180 or more days past due date.
• B    No payment history available prior to this time. A B value may not be embedded within other values.
• D    No payment history available this month. A D may value be embedded in the payment pattern.
• E    Zero balance and current account.
• G    Collection.
• H    Foreclosure.
• K    Voluntary Surrender.
• K    Repossession.
• L    Charge-off.

NOTE: If a full 24 months of history is not available for reporting, the ending positions of this field should be filled with Bs. The Payment History Profile is intended to be used to report monthly history, regardless of the loan's payment frequency.