The Metro 2 Consumer Credit Reporting module includes a built-in assistant that guides you through the steps to create a Metro 2 compliant file that is compliant with the Federal Credit Reporting Act (FCRA) reporting accuracy requirements. The assistant gathers information that you have already stored in your loan and payment history files to create the file to be delivered to your credit bureau(s) of choice. The Consumer Credit Reporting module helps you:
- Report customer data to Equifax, Innovis, Experian and TransUnion
- Avoid duplicate data through seamless integration with the Loan Servicing Module
- Generate an Errors and Exemptions report to help you identify and correct mistakes
- Produce a detailed audit report after each transmission
- Validate data to ensure compliance
This software module supports all status codes, type codes, comment codes, and maintains a 24-month history. It includes support for Metro 2 format including appendages, helping you quickly create files that are ready to be sent to your chosen credit bureaus.