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In order to start reporting to a credit repository, you must complete the following steps.

1.Your institution must have a contract with each credit repository that you want to report to.

2.Several weeks before you want to begin reporting, submit a work order to FPS GOLD requesting that Credit Reporting be activated. Include the following information:

•Request that FPS GOLD set up your institution for credit reporting. Identify which credit repositories to send the transmission to. You must supply FPS GOLD with your subscriber number for each credit repository. This information is added to the reporting transmission, identifying your institution to the credit repositories.

•Include the name and phone number of your contact at the credit repositories, if possible.

•Request that the Credit Bureau Report and Transmission (FPSRP293) be set up. Indicate the number of months you would like to report closed, released, and charged-off loans. Note: The Consumer Data Industry Association (CDIA) requests that these accounts not be re-reported for more than three months.

•Request that the Credit Bureau Warning Report (FPSRP184) be set up.

•Indicate the institution options that need to be set. See Options for more details.

3.Identify each loan that your institution wants reported by checking the Report to Credit Bureau field on the Loans > Account Information > Fees & Late Charges & Penalties screen, Late Fees tab. (This can be accomplished manually or via a work order.) Only those loans that are checked will be reported.

•Loans with a general category of 90 (contract collection) or higher will not be reported.

•All individuals associated with a loan flagged to Report to Credit Bureau should have an ECOA code.

4.Set up employee security for the Credit Reporting screen in the Security > Setup screen, CIM GOLD tab. Set the Loans > Account Information > Credit Reporting item to Maintain.