Credit Reporting Module

It is an important responsibility to provide credit reporting on clients. It provides the ability for them to establish credit history and credit worthiness for future financing requirements. It also provides other lending institutions with a risk analysis of specific clients so they can make sound credit decisions based on historical performance. Although it is important to provide credit reporting for delinquent loans, it is equally, if not more, important to report on those clients that have favorable performance. It is these clients who are most likely to succeed and evolve to traditional financing sources, in addition to creating significant economic impact in their communities.

The Credit Reporting module facilitates the provision of electronic monthly credit reporting to North American credit bureaus such as Transunion, Experian and Equifax via Internet Protocol. TEA supports the Metro2 format for file submissions as well as the Canadian standard for Equifax. This automated process is based on the aged arrears and loan status settings in The Exceptional Assistant.

Some notable features include:

Ability to submit both consumer and commercial credit reports where available
Reports are editable in case you need to modify any of the information
Credit reports are saved historically and can be resubmitted when required
Ratings are calculated automatically based on aged arrears and loan status settings
Ratings are stored historically in each individual client loan record
Simple submission of file using Internet protocol

Learn about system requirements for the Exceptional Assistant.