Loans > Loan Screens > Credit Reporting > Credit Bureau Status (Account Status)

The Credit Bureau status of the loan is determined from the Credit Bureau Account Status in CIM GOLD. The system first looks at the GOLDPoint Systems loan status (open, closed, released), then at the number of days the loan is past due, if any.

•If the account is not past due and has none of the Hold Codes in the following table, it is reported with an Account Status of 11 (account current).

•If the account was closed this month, was not past due, and has none of the Hold Codes in the following table, the account is reported with an Account Status 13 (paid account).

•Line-of-credit loans (payment method 5) that are "open" with a zero balance are reported as code 11 current accounts. Accounts that have a "closed" status are reported as code "13" (closed).

•If the account was serviced-released, the account is reported with a status "5" (transferred to another lender).

•If an account is closed (Account Status code of 6, 61-65), the system reports the account as closed the first month after it is closed, but does not report it for any months after that first closed status.

•If the account had a Credit Bureau Account Status of 95 (voluntary surrender), but the next month the account was closed, the account will be reported with Account Status 61 (paid in full--was a voluntary surrender).

•If the account had a Credit Bureau Account Status of 96 (repossession), but the next month the account was closed, the account will be reported with Account Status 63 (paid in full--was a repossession).

•If the account had a Credit Bureau Account Status of 97 (charged off), but the next month the account was closed, the account will be reported with Account Status 64 (paid in full--was a charge off).

The hold codes are the main codes used to modify the Credit Bureau status. They prompt for the Special Comments, Compliance, and Consumer Information Indicator code (CIID).

	Note: Proper use of the Hold Codes is needed to report the appropriate status for a loan and to ensure that the date of first occurrence is accurate. (These Hold Codes require Action Code 94.)

Hold codes are entered on the Actions/Holds/Events screen/tab. It is important to put the most critical hold code in the first Hold Code field, because the system stops checking for hold codes when the first Hold Code is found.

The following is a complete list of Credit Bureau status codes used by GOLDPoint Systems. The hold code used to adjust the Credit Bureau status on an account is shown in the last column.

CB Status Code	Status Code Description	GOLDPoint Systems Hold Code	Hold Code Description
5	Account transferred to another office.
11	Account Current
13	Paid or closed account/zero balance. The account has a zero balance and is not available for use by the customer. This is only reported the first month after the account is closed. It is not reported any subsequent months following that.
61	Account paid in full was a voluntary surrender. This is only reported the first month after the account is closed. It is not reported any subsequent months following that.	97	Paid account; voluntary surrender
62	Account paid in full was a collection account, government, or PMI claim. This is only reported the first month after the account is closed. It is not reported any subsequent months following that.	96	Paid account; collection
63	Account paid in full was a repossession. This is only reported the first month after the account is closed. It is not reported any subsequent months following that.	98	Paid account; repossession
64	Account paid in full was a charge-off. This is only reported the first month after the account is closed. It is not reported any subsequent months following that.	95	Paid account; was a charge-off
65	Account paid in full. A foreclosure was started. This is only reported the first month after the account is closed. It is not reported any subsequent months following that.	94	Paid account; foreclosure started
71	Account 30 days past the due date.
78	Account 60 days past the due date.
80	Account 90 days past the due date.
82	Account 120 days past the due date.
83	Account 150 days past the due date.
84	Account 180 days or more past the due date.
88	Claim filed with government for insured portion of balance on a defaulted loan.
89	Deed received in lieu of foreclosure on a defaulted mortgage.	6	Deed in lieu of foreclosure
93	Account seriously past due and/or assigned to internal or external collections.	91	Collection account
94	Foreclosure/credit grantor sold collateral to settle defaulted mortgage.	1	Foreclosure completed
95	Voluntary surrender. The next month after the account is closed, the account will be reported with Account Status 61 (paid in full--was a voluntary surrender).	92	Voluntary surrender
96	Merchandise was repossessed by credit grantor; there may be a balance due. The next month after the account is closed, the account will be reported with Account Status 63 (paid in full--was a repossession).	93	Repossession by grantor
97	Unpaid balance reported as a loss by credit grantor (charge-off). Once the account has been paid off, this changes to 64 (Account paid in full was a charge-off).	2	Charge-off; unpaid balance reported as loss by credit grantor
DA	Delete entire account. WARNING: This should only be used if actual reporting errors occurred on the account. This is only reported one month. The next month a new status would be determined and reported. If you don’t want the account to be reported the next month, you should uncheck the Report to Credit Bureau field.

Delinquent Status Adjustments

The Credit Bureau status is determined by the number of days the loan is past due (each month is treated as a 30-day month for purposes of this calculation). The monthend date minus the due date equals the number of days past due, except when the due date is the 1st. In that case, "1" is added to the number of days past due. (Example: If a loan is due on 2-1 and at the end of February it is still delinquent, it will be reported as 30-59 days past due (status code 71).) When an account is one month past due, it is considered for reporting purposes as a 30-59 days past due account.

Reporting Status is set as follows:

Days Past Due	Credit Bureau Status Codes	Description
1-29	11	Current Account
30-59	71	Account past due 30 days
60-89	78	Account past due 60 days
90-119	80	Account past due 90 days
120-149	82	Account past due 120 days
150-179	83	Account past due 150 days
180+	84	Account past due 180 days