Credit Reporting Change 6/11/21
SSN – last 4:
There is a new field in the Metro2 Credit Reporting options: “Report SS# last 4 (N=No)”
- If this field is equal to ‘N’, accounts with only the last 4 digits of the SSN will not be considered to have a valid SSN for credit reporting. If the account has a date of birth, it will still be selected for credit reporting.
- If this field is left blank, accounts with only the last 4 of the SSN will be considered to have a valid SSN and will be selected for credit reporting.
30 Day logic and Date of First Delinquency:
RMEX now considers the DATE OF FIRST DELINQUENCY – if it exists – when calculating the < 30 days CBR rejection criteria. If there is no DOFD, RMEX continues to use the LAST TRANSACTION DATE.
Accounts that are rejected from the credit reporting file will continue to be on the exception report, but we are making three improvements to help you manage and track these.
- Exception report: Will now list the specific reason for an account being rejected.
- Account Notes: We will add a note to the account with the specific reason. Below is a list of the potential reasons.
- CBR Reject – SSN/DOB
- CBR Reject – 30 DAY
- CBR Reject – MIN BAL
- CBR Reject – STATE
- CBR Reject – MINOR
- CBR Reject – LOC CODE
- Future Reporting: Rejected accounts will be flagged as ‘do not report’ and the account will no longer be eligible for credit reporting. You can always re-select them via a smart code.
- Note on State Rules: If an account has been credit reported, and afterwards, the address is changed to a ‘non-reporting’ state, the account will be withdrawn using the description code in the metro2 system controls.