Four Factors

Posted By: Tarhe

Four Factors - 04/29/22 09:49 PM

Our software platform shows 4 key factors on our Credit Score Disclosure, even if there are not 4 factors. For example:

Number of recent inquiries
Current balances on accounts
This factor has no description
No adverse factor

The last 2 appear to be placeholders - but it is coming across that way from the credit bureau. Is that a problem? Or should we contact our vendor to see if they can suppress the fields when there is no factor?
Posted By: Andy_Z

Re: Four Factors - 04/29/22 09:59 PM

Given to the consumer/applicant I would see that as confusing and to say it looks more like a positive, "no adverse factor" more than a negative. Perhaps 1,2,3,4 with 3 and 4 not followed by any description would work.

But the purpose of the AAN and scoring justification is not to confuse the person, but to explain the rationale.
Posted By: Tarhe

Re: Four Factors - 04/29/22 10:01 PM

Thank you - very helpful.