As part of its Business Partner Webinar Series last week, AFSA hosted Equifax for Reporting Automotive Loan Payments During COVID-19 Pandemic. Drew Rosedale, Data Contributor Services Leader and Jenn Reid, VP Strategy & Marketing walked viewers through the lay of the land and what to expect in the coming weeks and months. There were four key takeaways from the program.
- The credit reporting industry have long had codes in place to assist consumers impacted by a natural or declared disaster or other financial hardship.
- Furnishers are strongly encouraged to continue working with their customers to take full advantage of these codes and report them to the credit reporting agencies (CRAs).
- The leading score modelers treat these codes as neutral so there should be no negative scoring impact on consumers who are reported to the CRAs with these codes.
- There is a wide array of resources available to the financial services industry, including Equifax’s coronavirus resource page.
The full recording, as well as materials, previous programs and registration for upcoming webinars is available at afsaonline.org/webinars.
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