The figure below illustrates navigation to the System Parameters:
- Under CREDIT REPORTING – CREDIT REPORTING TO BUREAU CYCLE – choose from the drop downs as follows:
- COMPANY: ALL or only the company you want to report in this file
- On the client table, client codes where CBR TYPE that equals Y (report to bureaus) are the only client that will be part of ALL. You may also choose the company you want provided that the CBR TYPE on the client table is equal to Y.
- A user fills out the CBR Reporting to Bureau Cycle screen, entering a REPORT THRU date. This date is used to calculate what is referred to below as the up-to-date. The up-to-date is equal to the Date thru from the screen less the delay days as listed on the client code. So, if DATE THRU on screen is 12-31-12, and delay days for client is 30, then up-to-date = 12-1-12. NOTE: The DATE THRU is only used to determine what accounts to report, it has nothing to do with the status or balance of the account. CURRENT DATE would refer to the actual date the file is being requested.
- Then the debtors are pulled for the client codes that are on the list. The class of the status the account is in is compared to the System Parameters - Stats Class tab to determine if this class is reported to the CBR.
- If No, the account is skipped. If Yes, then the account is reviewed to meet the following requirements:
- Referral amount > minimum amount
- Referral date <= up-to-date (defined above)
- cbr_type = Y (Report Debtor to CBR), C (Cancel), D (Disputed, CCC Required) , O (Account Transferred), L (Purchased by another Lender)
- The balance reported is the balance at the time the file is run (CURRENT DATE), the DATE THRU is not referenced.
- ***EXCEPTION - LOAN SERVICING ACCOUNTS - payment arrangement type 2 exists, are reported as of the DATE THRU balance and date of last payment. This requires extra processing time by reading thru the transaction history on all accounts reporting to the bureau.
- The account will be reported as of the status it has at the time the file is run (CURRENT DATE). The DATE THRU is not referenced.
- REPORT THRU: Enter the date you want to report through.
3. Choose RUN TYPE: SCAN FOR EXCEPTIONS.
- This will create a report in the queue – queue id:
- CBRE, description: Credit Bureau Reporting Exceptions.
- Review the report for accounts that will not report for the reason stated in the Exception column.
4. Include SC & 7 Year Statute Exceptions on Exception Report: Option to include all accounts that will not report because the Status Class in the System Parameters is set not to report and all accounts that will not report because it is past 7 years from last charge date or payment prior referral date or first delinquency date
5. LOAN SERVICING HISTORY PROFILE TYPE: This setting is not applicable to RUN TYPE:
- SCAN FOR EXCEPTIONS - see below for settings to use when actually creating a file.
6. Include User Defined Dems V0-ZZ: Option to include user defined dems V0 – ZZ to the credit report in addition to the default A0 to D0 demographics
7. Review the Exception Report created in the queue
Common reasons include:
- No demographics chosen for this account – there is no demographic coded on this account to be reported to the credit bureau
- No 1stDelq or LastChg or PmtPriRf Date – credit bureau requires one of these three dates in order to accept an account.
- Missing Comma in Retail Name – the client is set up to do retail reporting and the name on the account is not in the format of: LastName,FIrstName
- Missing Address or City or State or Zip – the selected demographic does not have all of the required address elements.
- Account Won't Report Because of Status Class – the selected account is in a status class (based upon status code) that is set up under System Parameters - STSCLS tab to not report.
- Reporting Date Later than Referral Date – there is an issue with either the 1stDelq or LastChg or PmtPriRf Date – one of them is later than the referral date and needs to be corrected/removed before the account can report. This most often occurs when there are errors in importing. The date may appear normal when you look at the account, but is actually some like in the year 3907. To see the full year as saved in your database, create an adhoc report and format these dates to show all 4 digits of the year. Display all three dates and filter by the debtor number.
8. Once the exception report has been cleaned up to your satisfaction, proceed.