Credit Reporting Module (CRM)
The Credit Reporting Module (CRM) reports borrower credit information to credit bureaus as a secured file transmission.
The Credit Reporting Module assigns Credit Bureau Reporting Codes and Credit Bureau Type Codes to notes and DDA loan accounts to streamline the reporting process.
- The Credit Bureau Reporting Code controls the reporting status of notes by automatically defining the status, such as a paid account, account delinquent 60 days or account charged off.
- The Credit Bureau Type Code categorizes notes and DDA loans by purpose and type of borrower. The standard values for Credit Bureau Type Codes are listed as "Account Type Codes" in the "Credit Reporting Resource Guide."
When establishing new accounts, Credit Bureau Reporting Codes and Credit Bureau Type Codes are automatically assigned according to Note Class. Alternative values may be entered in place of the default values on individual accounts. If the credit bureau uses control numbers, one will be assigned to uniquely identify the processing center for the reporting institution.