If there is no co-applicant on withdrawn, incomplete or purchased transaction, you are required to report co-applicant credit score as 8888-Not Applicable or 1111-Exempt. This logic also applies to reporting the Name and Version of the Credit Scoring Model. The following references identify when Not Applicable is reported and describe the validity edit that will trigger if the co-applicant credit score is not reported as 8888 for withdrawn, incomplete, and purchased actions.
V664 - If Action Taken equals 4, 5, or 6, then Credit Score of Co-Applicant or Co-Borrower must equal 8888 or 1111; and Co-Applicant or Co-Borrower, Name and Version of Credit Scoring Model must equal 9 or 1111; and Co-Applicant or Co-Borrower, Name and Version of Credit Scoring Model: Conditional Free Form Text Field for Code 8 must be left blank.
A Financial Institution reports that the credit score data point is not applicable:
- For purchased Covered Loans;
- If the Financial Institution did not rely on a credit score;
- If the Application file was closed for incompleteness (even if a credit score was obtained or created);
- If an Application was withdrawn before a credit decision was made (even if a credit score was obtained or created); or
- If the applicant and co-applicant, if applicable, are not natural persons. Comments 4(a)(15)-4 through -7.