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 will be reported in the export for each one for a 30-day month and a 31-day month.
Scenario One:
Delinquent Control setting = 0
Create Creditreport Table event runs on the last day of the month
Loan due date 1st of the month
Month with 30 days will NOT report a 30 day
Month with 31 days will report a 30 day
Scenario Two:
Delinquent Control setting = 1
Create Creditreport Table event runs on the last day of the month
Loan due date 1st of the month
Month with 30 days will NOT report a 30 day
Month with 31 days will NOT report a 30 day
Scenario Three:
Delinquent Control setting = -1
Create Creditreport Table event runs on the last day of the month
Loan due date 1st of the month
Month with 30 days will report a 30 day
Month with 31 days will report a 30 day
Based on Servicing Director's interpretation of the Credit Bureau requirements, Scenario one is defined as the default setting in the software.
If your interpretation of the Credit Bureau requirements is different than this default, you can choose one of the others, but you should pay careful attention to how it will report the loans. You should review the scenarios and see which one best suits your business needs.
ArticleNumber:
000053649
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