We have started reporting to credit bureaus and have questions:

Is there a list somewhere about what is considered to be a "bank" error?

ALSO:

If one of our lenders fails to renew a loan within 30 days and we report it as past due; In my mind...this would NOT be a legitimate reason to use a "BANK ERROR" reason, so that it would be taken off their credit history. Correct?

I would greatly appreciate any help you all can give. Thank you!

I've never seen a list of Bank Errors - that would be way too simple . Bank posts payment to wrong loan = bank error; bank uses wrong transaction code so due date doesn't bump = bank error; bank enters wrong payment date and/or amount when processing new loan or renewal = bank error. If we do something that causes the past due status then we consider it a bank error and will correct it immediately.

Edit: Renewals are touchy. We send the LO the maturing list 90 days in advance. If the LO is willing to document, in writing, that they dropped the ball and caused the problem then we will update the credit bureau reporting..... BUT, we also send the info to their supervisor and compliance for follow up.

Thanks so much for the help.