Ch 4 Base Segment Fields 13 - 15

The video explains Base Segment Fields #13, #14, and #15 from Chapter 4 of the Metro 2 Credit Reporting Resource Guide, helping readers use Metro 2 to accurately read credit reports, identify errors, and draft dispute letters to consumer reporting agencies (CRAs). These fields—terms duration (#13), terms frequency (#14), and scheduled monthly payment amount (#15)—work together and vary by portfolio type (Field #8). Field #13 reports the duration (e.g., 30-year mortgage, 60-month car loan), with revolving accounts simply marked "revolving." Field #14, terms frequency, specifies payment intervals (e.g., monthly, biweekly), but Metro 2 requires conversion to monthly for reporting, using Exhibit 3’s calculations—e.g., converting 26 biweekly $200 payments to a monthly equivalent. Field #15 then lists the scheduled monthly payment (e.g., $300 for a 60-month car loan).

These fields offer a way to verify consistency: a report showing biweekly terms instead of monthly, or a mismatched payment amount, deviates from Metro 2’s rules. Such errors, given the standard’s uniformity across bureaus, can be cited in dispute letters to challenge accuracy, using the interlinked definitions as evidence.