Credit Reporting in the U.S. During the COVID-19 Pandemic
FICO has been working closely with lenders and partners to provide awareness of reporting options

We at FICO recognize the significant challenges faced by both borrowers and lenders in these extraordinary times. We've been working closely with lenders as well as our Credit Reporting Agency (CRA) partners throughout the COVID-19 pandemic to provide awareness of the various reporting options open to data furnishers, as well as how those reporting options can impact consumers' FICO® Scores.
Many lenders are offering multiple options to consumers, including temporary deferred payment plans and/or placing loans in forbearance.
We have emphasized to data furnishers that while special comment codes (like AW for natural disasters or CP for forbearance) are an additional option for reporting a borrower's situation, these are temporary codes that will only be reflected in the credit file for as long as they are being furnished, which is typically only while the extraordinary circumstances are in effect. There is an alternative approach that can better protect COVID-19-impacted consumers' FICO® Score over the long term.
Therefore, as lenders are assessing how customers have been impacted by the COVID-19 pandemic, and how to report all key credit data fields in a manner that best reflects each customer's situation, using special comment code alone should not be viewed as providing consumers relief with respect to the FICO Score. Placing borrowers in a temporary deferred payment plan or in forbearance, along with reporting an account status as "current" instead of as "delinquent", will permanently ensure that a borrower's FICO® Score won't be impacted by late payments related to the effects of the COVID-19 pandemic.
Popular Posts

Business and IT Alignment is Critical to Your AI Success
These are the five pillars that can unite business and IT goals and convert artificial intelligence into measurable value — fast
Read more
Average U.S. FICO Score at 717 as More Consumers Face Financial Headwinds
Outlier or Start of a New Credit Score Trend?
Read more
FICO® Score 10 T Decisively Beats VantageScore 4.0 on Predictability
An analysis by FICO data scientists has found that FICO Score 10 T significantly outperforms VantageScore 4.0 in mortgage origination predictive power.
Read moreTake the next step
Connect with FICO for answers to all your product and solution questions. Interested in becoming a business partner? Contact us to learn more. We look forward to hearing from you.