By early November, 2005, DocMagic users will notice enhancements to the menu of credit score factors (also known as key factors, reason codes, or adverse action codes) used to generate a borrower's consumer credit score disclosure. The Consumer Credit Score Disclosure consists of the Notice to Home Loan Applicant and the Credit Scoring Information, which are requirements under the Fair and Accurate Credit Transactions Act of 2003 (the "FACT Act") and California and Colorado laws.

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NOTE: The above is the current menu of credit score factors.

So that the DocMagic user may readily identify the credit score factors that are currently being used by the three nationwide consumer credit reporting agencies (i.e., Equifax, TransUnion and Experian), DSI has enhanced the credit score factor information to contain the corresponding code numbers used by these agencies.

For Equifax, the Beacon 5.0/Beacon 96 and Enhanced Beacon credit score factors will be displayed in DocMagic like so:

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You will notice duplicate code numbers in the Equifax menu screen. The first code number is from the Beacon 5.0/Beacon 96 list of credit score factors and the second or duplicate code number is from the Enhanced Beacon list. For example, "01 - Amount owed on accounts is too high" is from the Beacon 5.0/Beacon 96 list, and "01 - Current outstanding balances on accounts" is from the Enhanced Beacon list.

The TransUnion menu of credit score factors in DocMagic is based on the FICO Risk Score Classic Installment Loan factors and will look like the following:

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And, Experian's credit score menu is based on the Fair, Isaac Model V2 Score Factor Codes and will look like this:

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You will access each one of the above credit score menus in the same way that you currently have been doing in DocMagic. So, you do not need to do anything new.

DocMagic users will now be able to select the appropriate credit score factors in a quicker fashion with the addition of the credit score lists actually used by the three nationwide consumer reporting agencies. If you have any questions on the use of the new credit score lists, please contact DSI's Customer Service Department at (800) 649-1362.

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