Loans > Loan Screens > Competitor Inquiry Screen > Miscellaneous Fields field group

Mnemonic: BUCMCD

This field in the Miscellaneous Fields field group displays the compliance code tied to this account. The codes notify the credit repositories of disputes and other factors that better clarify the information being reported. Compliance codes are entered on the Reporting Codes & Original Information tab of the Loans > Credit Reporting screen.

Credit Bureau compliance codes are user-entered. The compliance codes allow your institution a way of notifying the repositories of problems on the account. It also allows a way of indicating if the institution required an account to be closed or if the borrower closed an account. The codes notify the credit repositories of disputes and other factors that better clarify the information being reported. File maintenance to this field writes to loan history.

The compliance codes available in this field might vary depending on your institution's use of the Loans > System Setup Screens > Client Code Setup > Loan Compliance Code screen. See help for that screen for more information.

Possible selections in this field are as follows:

Code

Description

Blank

Retains previously reported value, or no new Compliance Condition Code applies for this activity period.

Account closed at consumer's request.

Definition: Reported when a consumer requested an account be closed.

Account information disputed by consumer under the Fair Credit Reporting Act.

Definition: Reported when the completeness or accuracy of the account information is disputed by the consumer under the FCRA and investigation of the dispute is in progress by the data furnisher.

Completed investigation of FCRA dispute—consumer disagrees.

Definition: Reported when the investigation of an FCRA dispute has been completed by the data furnisher; however, the consumer disagrees with the outcome of the investigation.

Account closed at consumer's request and in dispute under FCRA.

Definition: Combination code reported when two conditions (XA and XB) apply to the account. A consumer requested an account be closed and the completeness or accuracy of the account information is disputed by the consumer under the FCRA and investigation of the dispute is in progress by the data furnisher.

Account closed at consumer's request and dispute investigation completed, consumer disagrees (to be used for FCRA or FCBA disputes).

Definition: Combination code reported when two conditions (XA and XC or XG) apply to the account. A consumer requested an account be closed and the investigation of the dispute has been completed by the data furnisher; however, the consumer disagrees with the outcome of the investigation.

Account in dispute under Fair Credit Billing Act.

Definition: Reported when information is disputed by the consumer under the FCBA and investigation of the dispute is in progress by the data furnisher.

FCBA Dispute resolved—consumer disagrees.

Definition: Reported when the investigation of an FCBA dispute has been completed by the data furnisher; however, the consumer disagrees with the outcome of the investigation.

Account previously in dispute—investigation completed, reported by data furnisher (to be used for FCRA or FCBA disputes).

Definition: Reported when the investigation of a dispute by the data furnisher was completed.

Account closed at consumer's request and in dispute under FCBA.

Definition: Combination code reported when two conditions (XA and XF) apply to the account. A consumer requested an account be closed and information is disputed by the consumer under the FCBA and investigation of the dispute is in progress by the data furnisher.

Removes the most recently reported Compliance Condition Code.

	Note: XR is not used as a default value. If no Compliance Condition Code applies in the current activity period, this field is blank filled.