Credit Score Maintenance

This training provides technical guidance on utilizing Credit Score Maintenance within FLEX. This functionality enables users to generate credit reports for members independently of the “Open New Account” workflow or “Loan Processing,” and also facilitates the manual entry of credit score history.

Accessing Credit Score Maintenance

The Credit Score Maintenance option is located within the Teller Maintenance section of the FLEX Main Menu.

• Navigation Path:
  • FLEX Main Menu
  • Teller
  • Teller Maintenance
  • Credit Score Maintenance

Overview of the Credit Score Maintenance Screen

The Credit Score Maintenance screen is divided into several key sections:

• Top Section: Displays the Social Security Number (SSN) and name of the current applicant/member.
• Credit Score Details (Lower Section):
  • This area displays any previously pulled credit reports within FLEX for the same Social Security Number.
  • It includes fields for:
    • SSN
    • Processor Type
    • Score Type
    • Eff Date (Effective Date)
    • Score
    • Grade
  • A table below these fields lists existing credit score details, including:
    • Account #
    • Social Security #
    • Processor
    • Score Type
    • Date
    • Score
    • Grade

Functionality

Running a New Credit Report

To pull a new credit report for a member or non-member:

1. Enter SSN:
   • For an existing member: Enter the member’s Social Security Number in the SSN field at the top of the screen.
   • For a non-member: Enter the Social Security Number in the SSN field within the “Credit Score Details” section.
2. Select “Existing/New Report”: Click this button to initiate the credit report request process.
3. Credit Request Section:
   • Credit Bureau Selection: Select the desired credit bureau from the drop-down list. The system typically defaults to the most commonly used bureau.
   • Applicant Name Verification: Verify the member’s name is correct.
   • Joint Applicant (if applicable): For a joint credit report, enter the joint applicant’s name.
   • Report Type: Select “Individual” or “Joint” for the type of report.
   • Selected Risk Models:
     • The risk model usually defaults.
     • If a change is required, select Choose to specify a different “Selected Risk Model.”
   • Permissible Purpose Code: Enter the applicable Permissible Purpose Code.
   • Equifax Options (if applicable):
     • Check FACS+ if applicable with Equifax.
     • Check Direct Check if applicable with Equifax.
4. Applicant, Address, and Employer Information:
   • For existing members, applicant information will auto-populate from Address Maintenance. Verify or enter correct information as needed.
5. Retrieve Report: Once all required information has been entered, select Retrieve Report to submit the request to the credit bureau. The system will send the request and retrieve the report.

Manually Entering Credit Score History

To manually add credit score history:

1. Enter SSN: Enter the Social Security Number in the SSN field within the “Credit Score Details” section.
2. Fill Required Fields:
   • Processor Type: Select the processor from the drop-down.
   • Score Type: Select the score type from the drop-down.
   • Eff Date: Enter the effective date of the score.
   • Score: Enter the member’s credit score.
   • Grade: Enter the member’s credit grade.
3. Select “Add”: Click the Add button to save the manually entered credit score history.

Viewing and Transferring Existing Reports

The “Existing Reports” section displays credit reports previously pulled within FLEX that match the applicant’s SSN.

• Show Report:
  • Highlight the desired report in the “Existing Reports” list.
  • Select Show Report to view the report details.
• Transfer (Applicable with Loan Processing):
  • If pulling credit through Loan Processing and an existing report is available:
  • Highlight the report.
  • Selecting Transfer will transfer all obligations from that report into the loan application.