Account Investigation
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Account Investigation

Business Processes

Account Investigation

Credit Bureau Reporting symbol Credit Bureau Extract Metro 2 Format users.

When the account requires investigation, either due to suspected identity theft or fraud or due to client dispute.

LeasePak Updates/Processes

  • U0103 Payoff (if applicable)
  • U0239 Credit Bureau Lease/API
  • U0709 Activity Status/Substatus
  • U0722 Custom Code
  • U0462 Credit Bureau Extract

Relevant LeasePak Interface Fields

  • U0103 Payoff
    • "Payoff Reason"/"Termin Reason" (if applicable)
  • U0239 Credit Bureau Lease/API
    • "Activity Substatus"
    • "Compliance Condition Code"
  • U0709 Activity Status/Substatus
    • "Activity Status"
    • "Activity Substatus"
    • "Processing task"
  • U0722 Custom Code
    • "Code Category"
    • "Code Value"
    • "Code Description"
Metro 2 Impacted Fields Relevant Code Values
Compliance Condition Code – User sets appropriate value at each stage of notification, investigation, and resolution XB – Account information disputed by consumer
XC – Completed investigation of FCRA dispute; consumer disagrees
XH – Account previously in dispute; investigation completed, reported by data furnisher
XR – Removes the most recently reported Compliance Condition Code
Account Status – LP will freeze during investigation per U0709 Activity Status/Substatus rules N/A
Payment Rating – If not (blank) or (NULL), LP will freeze during investigation per U0709 Activity Status/Substatus rules N/A
Current Balance – LP will freeze during investigation per U0709 Activity Status/Substatus rules N/A
Amount Past Due – LP will freeze during investigation per U0709 Activity Status/Substatus rules N/A
Date of First Delinquency – LP will freeze during investigation per U0709 Activity Status/Substatus rules N/A
Payment History Profile – LP will report D during investigation per U0709 Activity Status/Substatus rules D – No payment history available this month

Process Overview

When the User:

  • Sets up an account investigation "Activity Substatus" through U0722 Custom Code
  • Uses the designated "Activity Substatus" in U0709 Activity Status/Substatus to create rules for freezing or setting various reported values when the client or other party requests an investigation of the account
  • Uses U0239 Credit Bureau Lease/API to set "Activity Substatus" to the designated value and Compliance Condition Code (CCC) to XB

LP will freeze the account until the User changes or clears the "Activity Substatus". LP will then clear the frozen values (if no other condition is present that would keep them frozen). The User should also update CCC to an appropriate resolution value.

In addition, in cases where the lease needs to be terminated or paid off, if the User sets "Require payoff reason code" as one of the rules/tasks in U0709, U0103 Payoff will require that the User enter a "Payoff Reason"/"Termin Reason" before completing the payoff or termination update.

LeasePak User Process

To set up the process for account investigation:

  • Use U0722 Custom Code to create new codes for "Code Category" 'ACTSUBSTAT' (Activity Substatus). For example:
    • "Code Value" 'IFRD', "Code Description" 'XB Invstg fraud'
    • "Code Value" 'IDSP', "Code Description" 'XB Invstg dispute'
  • Use U0709 Activity Status/Substatus to create one or more "Activity Status"/"Activity Substatus" combinations, matching likely (according to your business practices) statuses to substatuses 'IFRD' and 'IDSP'. For example:
    • Match 'ANOR' (Active Normal) to 'IFRD'
    • Match 'ANOR' (Active Normal) to 'IDSP'
    • Match 'NSKP' (Suspended Skip) to 'IFRD'
  • For each combination, set the following rules under "Processing task":
    • Use D in CB Payment History Profile
    • Freeze CB Account Status and Payment Rating
    • Freeze CB Current Balance
    • Freeze CB Amount Past Due
    • Freeze CB Date of First Delinquency
  • To require a "Payoff Reason"/"Termin Reason" during payoff or termination, also set:
    • Require payoff reason code

To freeze an account for investigation (and optionally require a "Payoff Reason"/"Termin Reason" at payoff or termination):

  • Use interactive U0239 Credit Bureau Lease or third-party interface via API to set the "Activity Substatus" to 'IFRD' or 'IDSP' and CCC to XB

To use Compliance Condition Codes for a fraud investigation:

  • Consumer notifies creditor of suspected identify theft or fraud. Use U0239 to set CCC to XB
  • Investigate account; investigation will result in 1 of 3 possible outcomes:
    • Fraud or identity theft verified. Use preferred method to delete account using Account Status DF
    • No fraud or identity theft found. Set CCC to XC
    • Consumer sends written notification to remove CCC code. Set CCC to XR. U0462 will clear CCC after reporting XR

To use Compliance Condition Codes for an account dispute:

  • Consumer disputes accuracy of account information. Use U0239 to set CCC to XB
  • Investigate account; investigation will result in 1 of 3 possible outcomes:
    • Account inaccuracy verified and corrected. Set CCC to XH
    • No inaccuracy found. Set CCC to XC
    • Consumer sends written notification to remove CCC code. Set CCC to XR. U0462 will clear CCC after reporting XR

Additional Notes:

  • If the User changes CCC to XH, they cannot change it to XR until U0462 Credit Bureau Extract reports XH twice, but they can change it to a status other than XR before the 2-times reporting requirement is complete
  • The User cannot change CCC to XR if CCC reported the previous period was (blank) or (NULL)
  • U0462 clears CCC after reporting XR once