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No legal advice. Any person using the CRRG®, the Metro 2® Format, or information from the Metro 2® Task Force concerning the Metro 2® Format; or any software vendors that provide Metro 2® programming software acknowledges that such documents or communications are not made available for the purpose of providing legal advice or other counsel concerning the accuracy of the information furnished to a consumer reporting agency. Such persons rely solely upon their own determination as to the selection of the appropriate Metro 2® Code to meet any furnisher obligations under the FCRA.
Disclaimer of liability. Any person using the CRRG®, the Metro 2® Format, or information from the Metro 2®
Task Force concerning the Metro 2® Format; or any software vendors that provide Metro 2® programming software acknowledges that the fees paid, directly or indirectly, to receive the CRRG®, the Metro 2® Format, or information from the Metro 2® Task Force concerning the Metro 2® Format are based upon the expectation that such person will be solely responsible for the accuracy of the information furnished to a consumer reporting agency.
ANY PERSON USING THE CRRG®, THE METRO 2® FORMAT OR INFORMATION OBTAINED FROM THE METRO 2® TASK FORCE; OR ANY SOFTWARE VENDORS THAT PROVIDE METRO 2® PROGRAMMING SOFTWARE AGREES THAT UNDER NO CIRCUMSTANCES WILL THE CONSUMER DATA INDUSTRY ASSOCIATION (CDIA) OR ANY CONSUMER REPORTING AGENCY HAVE ANY OBLIGATION OR LIABILITY TO SUCH PERSON FOR ANY DIRECT, INDIRECT, INCIDENTAL, CONSEQUENTIAL, PUNITIVE OR SPECIAL DAMAGES SUSTAINED BY SUCH PERSON ARISING OUT OF SUCH PERSON’S FURNISHING OF CONSUMER INFORMATION TO A CONSUMER REPORTING AGENCY REGARDLESS OF HOW SUCH DAMAGES ARISE AND WHETHER OR NOT THE CONSUMER REPORTING AGENY OR CDIA WAS ADVISED SUCH DAMAGES MIGHT ARISE. SHOULD THIS DISCLAIMER CONFLICT WITH ANY PROVISION OF ANY OTHER AGREEMENT, SUCH PERSON AGREES THAT THIS DISCLAIMER SHALL SUPERSEDE SUCH CONFLICTING PROVISION.
� Can we report Account Type 5B (Second Mortgage) for home equity loans?� Yes, however use of the specific home equity type
codes (89, 6D) is preferred. If you choose to use Type 5B, be sure to report using the guidelines specific to the Mortgage portfolio type.
� How do we report a home equity line of credit when the account is closed because the current balance is greater than the property value?� Continue to report the original Credit Limit and start
reporting Special Comment “M” (account closed at credit grantor’s request).
Making Home Affordable (HAMP)Guidelines for First Liens� Example: John’s July payment of $1000 was 30
days delinquent prior to the trial period. His trial period payments are $500.� Actual Payment Amount = 000000500� Account Status = 71 (30 – 59 days past due date)� Payment History Profile = 111132110000
000000000000� Special Comment = AC� Date of Account Information = 08312010� Date of First Delinquency = 12162009� Date of Last Payment = 08042010
Option 1 - Original Account Number and Date Opened are retained:
� Modify the amounts and terms as per the renegotiated/refinanced agreement. Fields that may be changed include:� Original Loan Amount, Terms Duration, Terms
Frequency, Scheduled Monthly Payment Amount and Current Balance
� Special Comment Code ‘CO’ (Loan modified) may be reported.
Renegotiated/Refinanced MortgagesOption 3 – Account Number and Date Opened change:� Report the original loan as follows:
� Account Status Code = 13 (Paid)� Payment Rating = the appropriate code that identifies the status
of the account within the activity period being reported� Special Comment = AS (Account closed due to refinance)� Current Balance and Amount Past Due = zero
� Report the renegotiated/refinanced loan as follows:� New Account Number� New Date Opened � All other applicable fields
Important Note: Payment history that occurred prior to the new Date Opened should not be reported with this new account.
� If no payments are required (continued)�Payment History Profile = Report valid
payment history that occurred prior to forbearance. Report Character D for the months the account is in forbearance.
� In the K4 Segment, report the Specialized Payment Indicator 02 for Deferred Payment. Also, report the Deferred Payment Start Date as the date the first payment will be due.
Loan Assumed by Another ConsumerOption 2 (continued)
� Report original consumer(s) as follows:� Original Account Number� ECOA Code T (Terminated)� Special Comment Code H (loan assumed by another party)� Current Balance as zero� Other appropriate account information
Important Note: Do not report this consumer in subsequent reportingperiods.
� Report new consumer(s) as follows:� New Consumer Account Number� Other appropriate account information
Important Note: Do not report the original consumer’s account history in the Payment History Profile.
Report the following K2 Segment fields:� Portfolio Indicator = 2 (Sold to name)� Sold To Name = Name of company to which the
account was sold
Important Note: If the account is delinquent or derogatory, it is imperative that you provide the date of the first delinquency to the company that purchased the account.
Question: How is a mortgage account reported when a consumer completes their payments through a Bankruptcy Chapter 13 plan, but the account is still open and the consumer is continuing to make payments?
Answer: If the account is still open when the Chapter 13 plan payments have been completed, report Consumer Information Indicator Q to remove the previously-reported petition indicator so that ongoing payments made by the consumer can be reported.
� Step 1: To download a copy of the Credit Reporting Resource Guide®, please go to:http://www.cdiaonline.org/Metro2Request.cfm
� Step 2: Enter the user name & password combination, given to you during the presentation.
� Step 3: Fill out the Metro 2® Access form.� Step 4: Check your e-mail. You will receive an e-mail
from [email protected] with subject line “Metro2 Access Approved”. The e-mail will provide you with a link and your individual login combination to download the guide. If the e-mail does not include a login combination, please use your existing CDIA login info. If you do not know your CDIA login, you may use the password recovery function, by going to: http://www.cdiaonline.org/account/passwordRecover.cfm