These guidelines are specific to your industry and should be used in conjunction with specifications in the Metro 2® Format. The information below describes fields that require specific values. All other applicable Metro 2® fields should be reported for each account.
| M2R Program Field | What to Report | Notes |
|---|---|---|
| Portfolio Type | O (Open) | Account Type 29 (Residential Rental) is reported as Open. |
| Account Type | 29 | Specific code for Residential Rental accounts. |
| Date Opened | Lease start date | If the lease start date is unavailable, report the date the renter/lessee takes possession of the property. |
| Credit Limit | Zero fill | Not applicable for rental accounts. |
| Highest Credit/Original Loan Amount | Monthly rental obligation amount | Amount of rent due each month. |
| Terms Duration | Constant of 001 | M2R will set this as your default code. |
| Scheduled Monthly Payment Amount | Amount of the scheduled monthly payment due for the current reporting period | Should include the monthly rental obligation amount, and utilities and other fees, if included in the rental agreement. |
| Account Status | 11, 13, 62, 64, 71, 78, 80, 82 – 84, 93, 97, DA, DF
See Account Status Reference for detailed information |
DA & DF will delete consumer account from the credit bureau. |
| Payment Rating | When using Account Status 13, report the Payment Rating that is applicable.
See Payment Rating Reference for detailed information |
For all other Account Status Codes leave this field blank. In the M2R program is will be grayed out if it does not apply. |
| Special Comment | Legal Action = AM Special Payment Arrangements = AC, AI, AU Transferred = O, AT, BA Sold = AH Other = AW Removal of previous comment = blank |
Use with Account Status codes for additional clarification. |
| Compliance Condition | Report Compliance Condition Codes in conjunction with Account Statuses when comments are required for legal compliance. | Refer to Compliance Condition Codes and usage guidelines for further information. |
| Current Balance | Outstanding balance amount including any late charges and fees. | Do not include one-time fees or damage fees. |
| ECOA Code | ECOA Code 3 (Authorized User) is not applicable. | Only report legally liable consumers. |