CREDIT REPORTS

• Document Type: FOIA
• Collection: FOIA Collection
• Document Number (FOIA) /ESDN (CREST): 06675871
• Release Decision: RIPPUB
• Original Classification: U
• Document Page Count: 21
• Document Creation Date: March 8, 2023
• Document Release Date: December 3, 2019
• Case Number: F-2013-00435

Approved for Release: 2019/11/26 C06675871
Basics On How to Read a Credit Report
(b)(3)
Approved for Release: 2019/11/26 C06675871
Approved for Release: 2019/11/26 C06675871
Objective
f: Upon completion of this presentation you will:
Understand Credit Report Types
Review and Analyze Credit Reports
Approved for Release: 2019/11/26 C06675871
Approved for Release: 2019/11/26 C06675871
Credit Report Types
There are three types of reports that provide data on a
borrower's liabilities and payment histories
In-File Credit Report
� Credit data is received directly from a national credit bureau
� Data is NOT verified
Tr-merge Credit Report
� Obtained from a credit reporting agency
� Contains data collected from three national repositories (EFX, TU, XPN)
Factual Credit Report
� Obtained from a credit reporting agency
Contains data collected from three national repositories (EFX, TU, XPN)
� Credit agency verifies certain data and conducts interview with Subject
Approved for Release: 2019/11/26 C06675871
Approved for Release: 2019/11/26 C06675871
Primary Categories of Information
There are four primary categories:
Identifying information � may include name,
current/previous addresses, SSN, DOB, employers
Credit history � shows history of paying bills with
creditors such as banks, mortgage companies
Public records � all available public information
such as judgments, foreclosures, bankruptcies
Inquiries � information about inquiries made during
the past 120 days (Inquiries are requests made by
legitimate businesses to check a borrowers credit)
Approved for Release: 2019/11/26 C06675871
Approved for Release: 2019/11/26 C06675871
What is Detailed on a Credit Report?
For each debt listed:
Creditor's name
Date account was opened
Amount of highest credit or original loan amount
Required payment amount of unpaid balance
Current status of account
Payment history
Remarks or Special Comments detailing a loan
situation (disputes, loan modifications, etc.)
Approved for Release: 2019/11/26 C06675871
Approved for Release: 2019/11/26 C06675871
Sample Credit Report Legend - ECOA
Creditor Name
Account Number
A
Acct
Type
Date
Reviewed
ate Opened
DLA
High Credit
Terms
Months
Reviewed
Balance Amt
Payment Amt
Past
Due
Amt
Equal Credit Opportunity Act � Represents the borrower's
relationship to that account:
A � Authorized User
I � Individual Account
J �Joint Account
M � Maker
S � Co-Maker
P � Participating Account
T � Terminated
X � Deceased
U � Undesignated Account
Historical
30 60 90
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Approved for Release: 2019/11/26 C06675871
Creditor Name & Account Number
Creditor Name / 'cct
Account Number Type
0
A
Date sate Opened High Credit Months
Reviewed DLA Terms Reviewed
Balance Amt Past
Payment Amt Due
Amt
Name of the account as reported by credit
bureaus, followed by the account number
Historical
30 60 90
Approved for Release: 2019/11/26 C06675871
Creditor Name
Account Number
Approved for Release: 2019/11/26 C06675871
Acct
Type
Reviewed
ate Opened
DLA
High Credit
Terms
Months
Reviewed
There are several kinds:
� MTG or M: Mortgage
� INST or I: Installation account
� AUTO or A: Auto loan
� REV or R: Revolving account
� OPEN or 0: Open account
� CRCD or C: Credit card
COLL: Account is in Collections
� EDU: Education account
� COSI: Co-signer account
� LEAS: Leasing account
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Balance Amt
Payment Amt
Past
Due
Amt
Historical
30 60 90
Approved for Release: 2019/11/26 C06675871
Date Reviewed
Creditor Name Acct
Account Number Type
0
A
Date ate Opened High Credit Months
Reviewed DLA Terms Reviewed
Balance Amt
Payment Amt
Past
Due
Art
Historical
30 60 90
(7. This is the last date the account was reviewed
(or reported) by the creditor
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Approved for Release: 2019/11/26 C06675871
Date Opened & DLA
0
A
Creditor Name
Account Number
Acct
Type
Date
Reviewed
ate Opene
DLA
re s it
Terms
Months
Reviewed
Balance Amt
PAVAM
Payment Amt
Past
Due
Amt
Historical
30 60 90
There are two parts to this column
Date Opened is the date the account was originally
opened
DLA is the Date of Last Activity � the last time any
activity took place on the account
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Approved for Release: 2019/11/26 C06675871
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0
A
Creditor Name
Account Number
Acct
Type
Date
Reviewed
ate Opened
DLA
tr"4
High Credit
Terms
eviewed
Balance Amt
Payment Amt
Past
Due
Amt
Historical
30 60 90
There are two parts to this column
� High Credit is the highest amount borrowed on the
account, or the highest amount available if it was a
revolving account
� Terms � the first number indicates the highest
amount of the account and if there is a second
number it is the # of months of the repayment
agreement (i.e. 48 months, 60 months, etc.)
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Approved for Release: 2019/11/26 C06675871
Months Reviewed
0
A
Creditor Name
Account Number
Acct
Type
Date
Reviewed
ate Opened
DLA
High Credit
Tens
Months
Reviewed
Balance Amt
Payment Amt
Past
Due
Amt
YAWN
Historical
30 60 90
Months in Review the number of months the
account has been reviewed from the time the
account was opened
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Approved for Release: 2019/11/26 C06675871
Balance & Payment Amounts
Creditor Name Acct
Account Number Type
0
A
Date late Opened High Credit Months
Reviewed DLA Tens Reviewed
Balance Amt Past
Payment Amt Due
Amt
Historical
30 60 90
4" There are two parts to this column
The Balance Amount is what is currently owed
The Payment Amount would show if the account
had a regular monthly payment, such as for an auto
loan or other type of installment account
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Approved for Release: 2019/11/26 C06675871
Past Due Amount
Creditor Name Acct
Account Number Type
0
A
Date late Opened High Credit Months
Reviewed DLA Tens Reviewed
Balance At
Payment Amt
Past
Due
Amt
WAVA,
Historical
30 60 90
The Past Due Amount is just that any amount
that is past due on the account
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Approved for Release: 2019/11/26 C06675871
Historical 30/60/90
Creditor Name Acct
Account Number Type
0
A
Date late Opened High Credit Months
Reviewed DLA Terms Reviewed
Balance Amt
Payment Amt
Past
Due
Amt
Historical
30 60 90
4" These columns will indicate the number of
times the account has been 30, 60, and/or 90
days past due
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Approved for Release: 2019/11/26 C06675871
Credit Score Breakdown
There are indicators which will show the
Manner of Payment (MOP) � the letter indicates
the type of account and the digit codes
represent various factors on each account from
days late to the account being unrated
Approved for Release: 2019/11/26 C06675871
Approved for Release: 2019/11/26 C06675871
Manner of Payment (MOP) Codes
sa,
NR � No Record
X � Information requested but not provided to the credit
reporting agency
0 Too new to rate/approved but not used
1 Pays in 30 Days, OR Pays As Agreed
2 Pays in 30-59 Days, OR One Payment Past Due
3 Pays in 60-89 Days, OR Two Payments Past Due
4 Pays in 90-119 Days, OR Three Payments Past Due
5 Pays in 120 Days or More
6 Account Rated 07-09, Now Paid As Agreed, OR Satisfied
7 Chapter 13 Bankruptcy, Pays Regularly
8 Repossession
9 Bad Debt, Collection, Tax Lien, Civil Suit, Judgment, Bankruptcy
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Approved for Release: 2019/11/26 C06675871
Approved for Release: 2019/11/26 C06675871
How to Read MOP
Under Creditor Name/Account Number you will see:
Type of Loan: CREDIT CARD / CHARGE ACCOUNT Months Reviewed � 48
PP Start Dt.: 6/2016 PP: 11111111111111111111111111111