Account Ratings
The CREDIT_LIABILITY
array (a subproperty of CREDIT_RESPONSE
) contains a set of objects that represent the loans, obligations, and other financial liabilities that appear on a customer's credit report. The _CURRENT_RATING
subobject provides a quick assessment of an account's health as...
- ...a descriptive constant (the
@_Type
property) and as... - ...a single-character code (
@_Code
).
As an example, here we see an account that's 30 days late.
"CREDIT_LIABILITY": [
{
"@BorrowerID": "Borrower01",
"@CreditBusinessType": "Banking",
...
"_CURRENT_RATING": {
"@_Type": "Late30Days", // The account's descriptive constant.
"@_Code": "2" // The account's single-character code.
},
...
The @_Code
values listed here are also used (as values of the @_Value
property) in the CREDIT_SUMMARY
section of the report. See Credit Summary Attributes: Account Ratings for a list of a report's account rating attributes.
Descriptive Constants
The descriptive constants that you'll see in the @_Type
property are listed and described below. The descriptions are verbatim from MISMO.
@_Type | Description |
---|---|
AsAgreed | Account is being paid on time and according to terms of the credit agreement. |
BankruptcyOrWageEarnerPlan | The exact type could not be determined. |
ChargeOff | The account was not paid on a timely basis and the debt is being written off as uncollectible by the creditor. |
Collection | Account has not been paid on a timely basis and is been turned over to an attorney or agency for collection. |
CollectionOrChargeOff | The exact type could not be determined. |
Foreclosure | Legal proceedings have been initiated to sell property to settle debt on an unpaid balance. |
ForeclosureOrRepossession | The exact type could not be determined. |
Late30Days | Account is between 30 and 59 days past due. |
Late60Days | Account is between 60 and 89 days past due. |
Late90Days | Account is betwen 90 and 119 days past due. |
LateOver120Days | Account is 120 days or more past due. |
NoDataAvailable | Status of the account is not known. |
Repossession | Account has not been paid on a timely basis and proceedings have been initiated to repossess collateral property to partially of fully satisfy the debt. |
TooNew | Account has been recently established and is too new to rate payment history. |
WageEarnerPlan | Past due debt on an account is being paid according to terms established by a court or agreement with the creditor. |
Single-character Codes
The value of the @_Code
property depends on the rating system that the report is using, as declared in the report's [email protected]
property. There are two rating systems, one defined by Equifax and another by Experian:
{
"CREDIT_RESPONSE": {
"@MISMOVersionID": "2.4",
"@CreditRatingCodeType": "Equifax", // Rating system is Equifax
...
{
"CREDIT_RESPONSE": {
"@MISMOVersionID": "2.4",
"@CreditRatingCodeType": "Experian", // Rating system is Experian
...
With a single exception (the letter "C" in the Experian system) the rating codes are numeric. The lower the number, the healthier the account.
Equifax Codes
The descriptions are verbatim from Equifax.
@_Code | Description |
---|---|
0 | Too new to rate; approved but not used. |
1 | Pays (or paid) within 30 days of payment due date or not more than one payment past due. |
2 | Pays (or paid) in more than 30 days from payment due date, but not more than 60 days, or not more than two payments past due. |
3 | Pays (or paid) in more than 60 days from payment due date, but not more than 90 days, or not more than three payments past due. |
4 | Pays (or paid) in more than 90 days from payment due date, but not more than 120 days, or four payments past due. |
5 | Account is at least 120 days overdue but is not yet in collections. |
6 | There is no 6 in the Equifax rating system |
7 | Making regular payments under a consolidation order or similar arrangement. |
8 | Repossession (voluntary or involuntary return of merchandise). |
9 | Bad debt; placed for collection. |
Experian Ratings
The descriptions are verbatim from Experian.
@_Code | Description |
---|---|
C | Current |
1 | 30 days late |
2 | 60 days late |
3 | 90 days late |
4 | 120 days late |
5 | 150 days late |
6 | 180 days late |
7 | Bankruptcy |
8 | Repossession |
9 | Collection/chargoff |
Updated 16 days ago