Credit Score Maintenance

1. Introduction

Credit Score Maintenance in the FLEX system provides users with the capability to run credit reports on members outside of the standard “Open New Account” workflow or “Loan Processing.” Additionally, this module allows for the manual entry of credit score history, offering flexibility in managing member credit information.

2. Purpose

The Credit Score Maintenance feature enables users to:

  • Run credit reports on members independently of new account or loan application processes.
  • Manually enter and maintain historical credit score data for members.
  • Access and review previously pulled credit reports.

3. Accessing Credit Score Maintenance

Credit Score Maintenance is located under the Teller Maintenance section in the FLEX Main Menu:

  1. Navigate to Teller.
  2. Expand Teller Maintenance.
  3. Select Credit Score Maintenance.

4. Credit Score Maintenance Screen Overview

The main “Credit Score Maintenance” screen displays existing credit score details and provides options for managing credit reports.

4.1. Member Identification

  • SSN: Enter the Social Security Number (SSN) of the member.
    • If pulling credit for an existing member, enter their SSN at the top of the screen.
    • If pulling credit for a non-member or manually entering history, enter the SSN here.

4.2. Credit Score Details Section

This section displays previously pulled credit reports for the entered SSN.

  • SSN: Displays the member’s SSN.
  • Processor Type: Select the credit bureau processor from the dropdown.
  • Score Type: Select the type of credit score from the dropdown.
  • Eff Date: Enter the effective date of the credit score.
  • Score: Enter the member’s credit score.
  • Grade: Enter the member’s credit grade.

Actions within Credit Score Details:

  • Add: Used for manually entering credit score history. Fill out the necessary fields (Processor Type, Score Type, Eff Date, Score, Grade) and click “Add.”
  • Edit: Edits an existing credit score detail entry.
  • Delete: Deletes a credit score detail entry.
  • Existing/New Report: Used to initiate a new credit report request or view existing reports.

4.3. Existing Reports Section

This section displays credit reports already present in FLEX that match the applicant’s SSN.

  • Latest Reports / All Reports: Options to view the most recent reports or all available reports.
  • Show Report: Highlight an existing report and click “Show Report” to view its details.
  • Transfer: If pulling credit through Loan Processing and an existing report is found, highlighting the report and selecting “Transfer” will transfer all obligations from that report into the loan application.

5. Credit Request Section (Pulling a New Credit Report)

When initiating a new credit report request, the “Credit Request” section allows you to define the parameters for the report.

  • Credit Bureau Selection: Select the desired credit bureau from the dropdown list (often defaults to the most commonly used).
  • Member Name Verification: Verify the member’s name. For joint credit reports, ensure the joint applicant’s name is entered correctly.
  • Individual or Joint: Select the type of report (individual or joint).
  • Selected Risk Models: Indicates selected risk models. Typically, this defaults, but you can click “Choose” to select a different model if needed.
  • Permissible Purpose Code: Enter the Permissible Purpose Code, if applicable.
  • FACS+: Check this box if FACS+ is applicable with Equifax.
  • Direct Check: Check this box if Direct Check is applicable with Equifax.

5.1. Applicant, Address, and Employer Information

  • If pulling a credit report for an existing member, applicant information (name, address, employer) will automatically default based on the data in Address Maintenance.
  • Verify the defaulted information and make any necessary corrections or additions.

5.2. Retrieving the Report

  • Once all required information has been entered, click the Retrieve Report button.
  • The system will submit the credit report request to the selected credit bureau and retrieve the requested report.

6. Confidentiality Notice

This document is published by Computer Marketing Corporation/FLEX and is intended solely for its contracted clients. It may contain information that is privileged, confidential, or otherwise protected from disclosure. Dissemination, distribution, or copying of this document and any accompanying attached information by someone other than the intended recipient(s), or an employee or agent acting on behalf of the intended recipient, is strictly prohibited.