Ch 5 Exhibit 3

The video summarizes Exhibit 3 from Chapter 5 of the Metro 2 Credit Reporting Resource Guide, aiding readers in using Metro 2 to accurately read credit reports, identify errors, and draft dispute letters to consumer reporting agencies (CRAs). Exhibit 3 is a conversion chart for terms and payment amounts to a monthly basis, referencing Base Segment Fields #13 (terms duration), #14 (terms frequency), and #15 (scheduled monthly payment) from Chapter 4. It ensures all accounts, regardless of original terms (e.g., biweekly), are reported monthly—e.g., converting a biweekly loan by multiplying or dividing Fields #13 and #15 by 2.16.
Errors like a biweekly frequency on a report instead of monthly, or a miscalculated payment amount, can be flagged as deviations from Metro 2’s standard using this chart, providing a basis for dispute letters to CRAs to enforce accurate reporting.