Ch 4 K3 Segment Fields 1 - 4

The video summarizes the K3 Segment Fields #1 through #4 from Chapter 4 of the Metro 2 Credit Reporting Resource Guide, assisting readers in using Metro 2 to accurately read credit reports, identify errors, and draft dispute letters to consumer reporting agencies (CRAs). The K3 Segment, specific to mortgage accounts, includes four fields: Field #1 (segment identifier, "K3"), Field #2 (agency identifier, indicating Fannie Mae or Freddie Mac), Field #3 (account number assigned by the agency), and Field #4 (Mortgage Identification Number, or MIN).

These fields ensure mortgage details are precise; errors like a missing MIN, incorrect agency (e.g., Fannie Mae instead of Freddie Mac), or wrong account number can be flagged as inconsistencies with Metro 2’s standard, providing a basis for dispute letters to CRAs to correct inaccuracies.