It meets all the requirements of the fair credit reporting act fcra, the fair credit billing act fcba, and the equal credit opportunity act ecoa. This extensive format is implemented in credit reporting software packages and is designed to standardize a wide range of credit information while complying with federal laws and regulations for credit reporting. Metro 2 formatting solution metro 2 compliance experian. Metro 2 credit reporting software, metro 2 format layout. The experian credit bureau interface is generated on end of monthly business day. Metro 2 format needs special software like experian of goldenomega to convert data into this format. For all types of industries, credit manager is designed to accurately report consumer debtor and commercial trade lines to the major credit repositories. Metro 2 credit reporting software for reporting trade lines to equifax, experian, transunion and more using the metro 2 format layout. This software module supports all status codes, type codes, comment codes, and maintains a 24month history. Supports all status codes, type codes, comment codes, and 24month history. This is the latest feature in arctics initiative to bring microenterprise solutions to small and medium sized businesses around the country. Generates detailed audit report after each transmission. Metro 2 credit reporting software, metro 2 format the service bureau. The metro 2 task force is comprised of representatives from the nations top credit reporting agencies equifax, experian, innovis and transunion.
Credit manager was designed to support all trade line reporting and adheres to the metro 2, credit reporting resource guide. Course information course instructor tarrance bellamy author establish a data furnishers or service agreement with each credit bureau repository equifax, experian, transunion, innovis. Consumer credit reporting software the mortgage office software. Credit manager metro 2 credit reporting software system is the industry leader for credit reporting software. Jul 08, 2011 collect on arctic debt management software announced the launch of its metro 2 credit reporting addon for transunion, equifax and experian. Report to all three major nationwide consumer reporting agencies with consistent, complete, and timely credit information meets all requirements of the fair credit billing act fcba, the fair credit reporting act fcra, the equal credit opportunity act ecoa, and all applicable state laws. It is metro 2 which is the format that credit bureaus use. Credit reporting software or online reporting services must be kept uptodate with the metro 2 format specifications based on the metro 2 credit reporting resource guide provided by consumer data industry association cdia. It delivers its credit reports in a proprietary computergenerated format that displays credit information in segments and bits and bytes. Dataarc 360 tm is a software tool that will proactively help your organization adhere to the metro 2 credit reporting format and credit reporting best practices. The information is exported in the standard metro 2 format that easily transfers to transunion, equifax andor experian. Thats why we developed dataarc 360, a powerful data management platform that combines our trusted software with our expertise in credit reporting. The links below provide valuable information about our transmission requirements and testing process, as well as helpful recommendations for locating software providers for this.
To reduce disputes and errors, data files are checked against the metro 2 rules, and any discrepancies are flagged for correction before they are submitted to the bureaus. Our software solution allows businesses to accurately report consumer, debtor and commercial trade lines to the national credit bureaus using the industry standard, metro 2 format. Experian provides credit reports to approximately 15,000 subscribers. We also support metro 2 credit reporting to realtime credit bureaus with national coverage of alternative credit data. In order to report to them directly you must have your data in the metro 2 format. The cdia only uses metro2 format software for business. M2 reporter has a fully trained, on site, fulltime staff, to meet your technical support needs. Metro2 format is the current standard format for reporting credit. Oracle financial services lending and leasing metro ii data. It is a standard computer file format that all businesses use to report consumer credit history.
Reportcard keeps your repayment and loan status information up to date and transmits them to the major credit agencies. The specification is extensive and is designed to standardize a wide range of credit history information. The reportcard module tracks credit and repayment history and transmits them to the major credit agencies. Apr 27, 2017 metro 2 format credit reporting software for reporting consumer or debtor credit to credit bureaus, equifax, experian, innovis and trans union using our credit time 2000 metro 2 credit reporting software. Metro 2 credit reporting software software vendors. Additional references can be found in the fair credit reporting act fcra, the fair credit billing act fcba, the. Metro 2 credit reporting software credit manager for all types of industries, credit manager is designed to accurately report consumer debtor and commercial trade lines to the major credit repositories. Equifax, experian, transunion, innovis and others using the metro 2 format as specified in the credit reporting resource guide. Dataarc 360tm is a software tool that will proactively help your organization adhere to the metro 2 credit reporting format and credit reporting best practices. When you find the software for converting data into metro 2 format, your steps include. Simply put, metro 2 is a new standard electronic data reporting format that is used to report credit data to all of the credit reporting agencies transunion, equifax, experian, and cbcinnovis. Instantly profile data fields for uniqueness, completeness, and statistical anomalies. Ease metro 2 credit reporting and fcra compliance experian. For many years, data reporting has been a successful tool companies use to promote timely bill payments from consumers.
Assess your files using more than 115 attributes specific to the metro 2 format. Help can someone please send or show me the codes to change my credit file. Jul 20, 2017 the metro 2 format in a nutshell, the metro 2 format was created by the cdia online. Jan 16, 2005 the things you are speaking of are called seasoned credit tradelines or aged credit tradelines. Metro 2 help desk for successful credit reporting help. Data reporting data reporting good credit is a valuable asset in todays economy, and data reporting is a highly effective tool for.
Metro 2 is the only file format the bureaus accept, and converting your payment data into metro 2 requires special software. It is auto triggered, yet the system will have an option to resubmit the job in adhoc manner. Reportcard enables you to transfer credit information in the standard metro 2 format that easily transfers to transunion, equifax andor experian. The required fields for reporting consumer credit information via the metro 2 format are identified in the credit reporting resource guide crrg. Jun 28, 2019 paperwork is only one step in the process to begin reporting credit data. The credit bureaus also want to know that your company has the appropriate software to submit and receive files in metro 2 format. Therefore, cdia also advises you to use a system that meets the accurate and timely reporting of data.
It includes support for metro 2 format including appendages, helping you quickly create files that are ready to be sent to your chosen credit bureaus. Metro 2 credit reporting software for reporting to the major credit bureaus, equifax, transunion, experian and others using the metro 2 format. Metro 2 software used by business who all need to feed data into it. Equifax, experian, transunion, innovis and others using the metro 2 format as specified in the credit reporting resource. The metro 2 format is the standard format that all four bureaus use to accept data into their consumer credit database. Metro 2 format credit reporting software for reporting consumer or debtor credit to credit bureaus, equifax, experian, innovis and trans union using our credit time 2000 metro 2 credit reporting software. Equifax, experian, innovis, transunion and microbilt. This extensive format is implemented in credit reporting software packages and is designed to. Mortgage servicing, loan servicing software consumer credit. Features metro 2 credit reporting softwaremetro 2 format. While the metro 2 standards are designed to make it easier to keep credit information uptodate, many organizations still face many challenges with their metro 2 reporting. Metro 2 credit reporting software credit time 2000. Metro 2 credit reporting software that is economical, simple and accurate. Designed to foster the reporting of complete and accurate data to the credit bureaus, the metro 2 format also addresses fcra fair credit reporting.
The task force maintains the metro 2 format, a data specification created for data furnishers to report credit information to major credit reporting agencies in a. The metro 2 elearning system is an indispensable companion resource that reinforces the. It is implemented in credit reporting software packages. As a credit agency, can you imaging trying to work with millions of different spread sheets or text files sent to you by businesses for credit reporting. Allows you to easily report customer credit information. Nov 17, 2017 the major consumer credit bureaus expect for data furnishers to report on their data in a single, standardized format, known as metro 2. It allows most accurate and complete information on consumers credit history. Experian credit bureau interface 9nt1438oracle fcubs v.
Learn how our metro 2 platform will give your business more time to figure why these issues are happening and how to fix them. Access to the metro 2 format is limited to employees of a companies that. Our credit time 2000 metro 2 credit reporting software allows any businesses to report consumer credit accounts and business commercial accounts to all of the national credit bureaus equifax, experian, innovis and trans union. Complete support for metro 2 format including appendages. Creates files in metro 2 format for reporting to credit agencies. Accounts associated consumer backup bureau errors closed accounts collection agencies date of last payment date opened eoscar equifax data breach experian glossay guideline changes header activity date header record j1 segment j2 segment metric report metro 2 format metro 2 formatting metro 2 header record metro 2 news metro 2 reporting codes. Access to the metro 2 format is limited to employees of a companies that furnish data to consumer reporting agencies in the metro 2 format, b data processors who furnish data to consumer reporting agencies in the metro 2 format, c software vendors who provide metro 2 programming software, and d consumer reporting agencies that. Metro 2 format, report servicing, repayment reports. The task force maintains the metro 2 format, a data specification created for data furnishers to report credit information to major credit reporting agencies in a standardized format. Yes, that is a stupid and possibly illegal way of doing this. During this time, we have become a very competitive software vendor known for its highly accurate, user friendly, economical, metro 2 format reporting software and first rate technical support team. The metro 2 consumer credit reporting software is compliant with the federal credit reporting act fcra, which ensures accurate reporting. M2 reporter is dedicated to developing consumer software products that are easy to use, while bringing.