Here are seven things to review if you are trying to research why a loan did not report to the credit bureau.
- Look to see if the loan is flagged not to report to the credit bureau: Access Tool #20 Update Account Information (shortcut: acct) for the account and click the "Credit Reporting Info" button.
- The Report to credit bureau flag must be checked.
- Look at the Credit Report History located in Loan Account Inquiry via the Delinquency window (F23 or click the lookup button next to the Delinquent flag). Each month has a separate listing.
- NOTE: If the loan is closed the monthly history will continue to appear with Reported = N. CU*Answers only reports closed loans for the month during which the loan was paid off.
- Review the member information.
- Does the name or address have any invalid characters or spacing?
- Is the address coded as foreign? Is the member 18 years of age?
- Is the account designation coded as "Organizational?" CU*Answers can only report "Individual" membership designations.
- Review the same information for the joint owner looking at membership and non-member records.
- CU*Answers can only report one additional person that has the same address as the primary member and one that does not have the same address.
- Review the Purpose Code listed on the member account via Tool #706 Purpose Code Configuration.
- The reporting types must be valid. Online help will show the most current codes accepted by the Credit Bureau.
- Print Tool #658 Print Account Info Sent to Credit Bureau to a HOLDxx printer.
- Review if the loan in question was included in the file sent to the credit bureau.
- Additionally, ensure you have set up credit reporting with the bureau.
- If you are unsure, contact Lender*VP at lendervp@cuanswers.com.