The figure below illustrates navigation to the Credit Reporting to Bureau Cycle:
- For all files after initial file, run the drop down: UPDATED & NEW ACCOUNTS – CREATE FILES FOR BUREAUS
- Choose LOAN SERVICING HISTORY PROFILE TYPE: This setting should be changed only by those companies that have the loan servicing plug in and are reporting first-party loan servicing accounts. Once a month, the Loan Servicing History Profile Type should be set to Advance Payment History Profile (Final Monthly Run).
- This setting updates the 24 month loan servicing history profile that is reported to the bureau. If the file must be recreated do not choose that setting again. A note is entered on accounts when the payment history is advanced for CBR reporting so that you can reference accounts and know when this setting has been used for the month.
- The file will be located in System File Access. A detailed report of what was reported will be in the queue – queue id: CBRR, description: Accounts reported to Bureau(s). Please review this report for accuracy.
- This report does not list each demographic reported for each account, only the debtor number of accounts that are reported. It also listed the A0 name, even though you may not be reporting it, you may be reporting the B0 or C0 demographic. You can verify this by opening and looking at the file, if you would like.
4. At any time, you can run ALL ACCOUNTS – CREATE FILES FOR BUREAUS – to send your complete file again. It WILL NOT result in duplicate entries.
- The Credit Bureaus will compare the entry in the new file with the entry on the corresponding credit report and if they are identical, not list it again. If not identical, they will only pick up the changes.