This was very confusing to me when I first started in this industry. Lets say you have an account that is in collections. You want it off the report and you look at the DLA on the tri-merge mortgage report. You determine that it has two years left to stay on the report but your customer tells you they stopped paying this 8 years ago?
Here is why:
You DO NOT go by the DLA. You have to go by the ODD. The ODD is usually not on a tri-merge mortgage report. It is usually always on a consumer report. This can be difficult for mortgage officers due to the information not being on the reports they use. When we audit the bureaus, collection companies and the creditors we can always find out the ODD and generally get the old information removed.
Have a great Friday everyone.
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