Explanation of the Date Of 1st Delinquency (DOFD) in Servicing Director Credit Bureau Reporting
The Date of 1st Delinquency, often abbreviated to DOFD, is found in the Customer Service application > Payment > Credit screen, and is used for Credit Bureau Reporting.
In the Servicing Director Credit Bureau Export file, the DOFD value can be located in position 190-197 of each record.
This is an explanation of how the Date of 1st Delinquency (DOFD) is calculated:
The Date of 1st Delinquency is either the date the loan first became delinquent, or the oldest applicable bankruptcy date.
When the loan first becomes delinquent, we report the date it became delinquent (Due Date + 30 + Delinquent Control).
This value will continue to report until the loan is brought current, even if payments are made.
All delinquent loans have a value in the DOFD field.
If the Status is in (5, 13) - transferred, paid off or foreclosure - and the Payment Rating is 1 through 6, the date the loan became delinquent is reported.
Again, (Due Date + 30 + Delinquent Control).
If the Status is in (5, 13), and the Payment Rating is zero, the DOFD is .
If the loan is not delinquent (Status is 11), it is active and there is a bankruptcy for one of the borrowers, this field is used to supply the date of the bankruptcy notification.
Per Metro 2, dates for the following bankruptcy statuses are not reported in the DOFD field; bankruptcy dismissed, bankruptcy withdrawn and reaffirmed.
Each borrower has a bankruptcy indicator on the credit export, the Consumer Information Indicator, CII. If a borrower has filed bankruptcy more than once, the most recent bankruptcy is reported as the CII (bankruptcy code) for this borrower.
The oldest applicable bankruptcy date must be reported in the DOFD field, as this is used by the credit agencies to purge the loan from the system at the end of the retention period. The oldest reported CII, for any borrower, is reported in the DOFD field.
ArticleNumber:
000054366
Related Articles
Explanation Of Monthly Delinquent Indicator And How It Is Used In Servicing Director Credit Bureau Reporting
This serves as an explanation of the Monthly Delinquent Indicator field, and about how it is used in the Servicing Director credit bureau reporting process. The Monthly Delinquent Indicator field is found in the Customer Service application, Payment, ...
Servicing Director Credit Bureau Reporting for Service Released Loans
In Servicing Director, after a loan is service released, the loan reports a Status of 5 on the Credit Bureau Export. A Status of 5 reports for two (2) months, the month when the loan becomes inactive, as well as the month following. After this, that ...
Finding Information About the Servicing Director Credit Bureau Reporting Export Field Descriptions, Formats and Layouts
For information about the Servicing Director Credit Bureau reporting export fields, formats and layouts, search the Servicing Director Help topics. From any Servicing Director application, click on the Help menu > Help Topics. On the Servicing ...
How Servicing Director Handles Credit Bureau Reporting of Borrowers and Co-Borrowers
In Servicing Director, when you set up the Credit Bureau Table setup, you can also choose to include one (1) or four (4) J2 segments (200 characters each) to handle the reporting of your co-borrowers. J2 segments include the following: Names and ...
Servicing Director Credit Bureau Export Account Status is Based on the Delinquent Control Setting
The account status of a loan in the Servicing Director Credit Bureau Export is based on the Delinquent Control setting in the Company table setup. Listed below are the three scenarios for the Delinquent Control settings and the account status that ...