Skip to content

"Self-reporting" Utility Accts. on Credit History

Answered by: 

Question: 
Credit Bureaus are now allowing consumers to "self-report" utility accounts on their credit histories. These accounts show as payments and performance does affect their credit scores. For ATR compliance, should these reported accounts now be considered in DTI calculations or can they be excluded? As a side note, I am seeing automated software pulling these utility accounts into the calculations as any other credit account.
Answer: 

Utility payments are not debt and are considered in the 57% of non-debt expenses and within the residual income.

First published on 07/14/2019

Filed under: 

Banker Store View All

From training, policies, forms, and publications, to office products and occasional gifts, it’s available here:

Banker Store

hot right now

image description

Looking for effective, convenient training on a particular subject?

BOL Learning Connect offers more than 200 courses ON-DEMAND or on CD ROM from AML to Reg Z and every topic in between.

Search Topics