Loans > Loan Screens > Credit Reporting > Coding of Derogatory Credit Status

Hold codes can be entered in CIM GOLD using the Actions/Holds/Events screen/tab. Many times, certain activity causes the system to automatically update the Hold Code accordingly. For example, running the Repossession transaction will cause the system to enter Hold Code 93 (repossession) on the account, and running a Bankruptcy transaction will cause Hold Code 4 or 5 to be placed on the account.

Examples of how each code is used in credit reporting are shown in the following table.

GOLDPoint Systems Hold Code	Hold Code Description	CB Status Codes	Status Code Description
01	Foreclosure completed	94	Credit grantor sold collateral to settle defaulted mortgage.
02	Charge-off (unpaid balance reported as loss by credit grantor)	97	Unpaid balance reported as a loss by credit grantor.
06	Deed in lieu of foreclosure - (cannot override)	89	Deed in lieu of foreclosure.
91	Collection account (account assigned to agency, lawyer, etc.)	93	Account seriously past due/account assigned to attorney, collection agency or credit grantor’s internal collection department.
92	Voluntary surrender	95	Voluntary surrender.
93	Repossession by grantor	96	Merchandise was taken back by credit grantor; there may be a balance due.
94	Paid account; foreclosure started	65	Paid account. A foreclosure was started.
95	Paid account; was a charge-off	64	Paid account; was a charge-off.
96	Paid account; collection	62	Paid account; was a collection account, insurance claim or education claim.
97	Paid account; voluntary surrender	61	Paid account; was a voluntary surrender.
98	Paid account; repossession.	63	Paid account; was a repossession.
99	Settled	68	Account legally paid in full for less than the full balance.

	Note: When entering any of the above hold codes, you must first enter action code 94 (date of first delinquency) and a date on the Actions/Holds/Event Letters tab.

Hold Code Status Adjustments

When an account that was in collection, foreclosure, voluntary surrender, repossession, or charge-off and the account is paid off, hold codes should be placed on the account so that at monthend when the status is updated, the correct status will be reported. Example: A hold code 94 will report a status code of 65.

Hold code 94 reports as status 65 (Account paid in full. A foreclosure was started.)

Hold code 95 reports as status 64 (Account paid in full was a charge-off.)

Hold code 97 reports as status 61 (Account paid in full was a voluntary surrender.)

Hold code 98 reports as status 63 (Account paid in full was a repossession.)

All the above hold codes are only used when the account is paid off after being in the referenced status.

Hold Codes

Hold Codes