Applied Business Software
2847 Gundry Avenue
Long Beach, CA 90755
Tel: (800) 833-3343
Fax: (562) 426-5535
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Metro 2 Consumer Credit Reporting
The Metro 2 Consumer Credit Reporting module of The Mortgage Office™ enables you to report borrower credit information to the four major consumer credit agencies: Equifax, Innovis, Experian and TransUnion. This new optional module integrates seamlessly with the Loan Servicing module providing an affordable in-house software solution.
General Account Information Screen
The following list is just a brief description of some of the features available in this new module:
Fully integrated with the Loan Servicing module
Reports to all consumer credit agencies
Comprehensive HTML on-line help and documentation
Complete support for Metro 2 format including appendages.
Supports all status codes, type codes, comment codes, 24-month payment profile history and more with easy-to-use dropdown menus
Thorough data validation ensures compliance with strict credit bureau guidelines
Generates detailed Audit Report for each transmission
Generates an Errors and Exemptions Report to help you identify and correct mistakes
Ability to create a test-file to be used during the account approval process
Assistant-driven Metro 2 file generation with ability to export to a location of your choice
Verifies account compliance with FCRA requirements and regulations for accurate reporting
Assistant-Driven Metro 2 File Generation. The Metro 2 Credit Reporting Assistant guides you through the necessary steps to generate a Metro 2 compliant file. During the generation process, the assistant gathers the information already stored in your loan and payment history files to create the export file which is ultimately delivered to the credit bureaus of your choice.
Detailed Audit and Errors & Exemptions Reports. To help you ensure that only accurate credit histories are reported to the consumer credit agencies, the Metro 2 Consumer Credit export assistant validates the information gathered during the file generation process and produces the Export Audit Report and an Errors and Exemptions Report.
Sample Reports
The Federal Trade Commission (FTC) is charged with enforcing and interpreting the Fair Credit Reporting Act. As such, they issue staff opinion letters, press releases and consumer educational materials. More information can be found on the Internet at www.ftc.gov/os/statutes/fcrajump.htm.
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