Purchase, install, and train staff on using Metro2 compatible software.
What is Metro2?
The major credit bureaus came together and developed a standardized electronic format for reporting consumer data known as Metro2. All consumer credit data providers to the four major credit bureaus (Equifax, Experian, Innovis and TransUnion) are now required to submit their data electronically in Metro2 format.
Each CBA Reporter must furnish data to CBA electronically in a compliant Metro2 file. However, CBA is not a Metro2 software provider - but we are partnering with them - so that you don't have to manage a separate database and double data entry.
CBA Metro2 Technology Preferred Providers
The following CBA partners offer discounts to clients purchasing Metro2 software to report through CBA.
CommonGoals – The Exceptional Assistant (TEA)
(800) 354-5152 •
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DownHome Solutions - DownHome Loan Manager (DLM)
(877) 800-4476 •
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GMS
(800) 933-3501 •
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Nortidge
(800) 933-6227 •
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Philadelphia Industrial Development Corp (PIDC) - Portfol
(800) 220-PIDC •
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The Mortgage Office
(800) 833-3343
The Trakker
(800)326-4112 •
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In addition, The Service Bureau sells stand-alone Metro2 software options for lenders managing small portfolios with software (i.e. Excel or Access) that does not offer Metro2 capacity.
Do you use a different loan management software? Let us know through the Join Us survey.
CBA is encouraging other loan management software vendors to provide Metro2 technology to community lenders.
How do I ensure my data is Metro2 compliant?
Once you purchase Metro2 software, your software provider and CBA will provide you support and training through this process. Make sure you set aside appropriate staff time for software training and for research and data entry to ensure complete data on the clients you want to report. Metro2 requires that each loan has the following borrower information: date of birth, social security and full (no P.O. box) address on all primary borrowers plus co-signers and guarantors
As a Data Provider, it is suggested that you have a copy of the Credit Reporting Resource Guide (CRRG). A hard copy of the CRRG can be purchased online at www.cdiaonline.org or ask CBA about downloading a free electronic copy.
Once you have successfully exported an error-free file, CBA will provide you with the log-in and passwords you need to upload test Metro2 file to our secure site as part of the CBA Reporter Application process.
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