The Impact of COVID-19 on Credit Reporting and Credit Scores

Wed Nov 04, 2020

Without a doubt, 2020 has been the most unusual year since the Great Recession with COVID-19 affecting all aspects of life – with the world of credit being no exception. Industry expert Mike Olden offers an in-depth look at the reality of what lenders and borrowers are dealing with when it comes to credit ratings and loan originations. And most importantly, he offers tips and best practices on what lenders can do to avoid delays and remain successful as the pandemic continues.

During this 60-minute session, Mike will discuss:

  • How the CARES Act impacts credit reporting
  • The responsibilities of lenders, including best practices for preparing borrowers, addressing errors and opting out
  • Key points on reporting forbearance and declared disasters
  • The impact on credit scoring and the effects of forbearance and special comment codes
  • Preparing for credit freeze and credit locks
  • Consumer resources for protecting credit files, answering fraud, obtaining free credit reports and addressing reporting errors

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Date 11-04-2020

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