Specialized set of tri-bureau attributes addresses the number of tradelines with a modification applied

To help clients detect and monitor loan modifications effectively, DMS has identified six specific scenarios that are addressed, and can provide professional services to help clients with the required analysis.

• Deferred – temporary delay to the start of payments, typically for new loans
• Forbearance – temporary suspension of payments, with payments moved to the end of the loan
• Natural Disaster – consumer ability to pay impacted by a natural or declared disaster
• Loan Modification – change to existing loan terms such as length of time for repayment or loan type
• Payment Plan – agreed upon plan to pay outstanding debts within defined terms
• Inferred Modification – tradeline has a balance but no stated monthly payment amount

To help identify impacted loans and lines of credit, this specialized set of tri-bureau attributes addresses the number of tradelines with a modification applied, the sum of the balances of those tradelines and the corresponding monthly payments, and the percentage of a consumer’s tradelines with modifications.  This set of attributes is available to leverage on both archived and production data.