A.1 Glossary
Table A-1 Glossary
| Term | Description |
|---|---|
| DEROG / DEROGATORY | Account has had chargeoffs, collections, bankruptcy, or repossession. |
| MINOR DELINQUENCY | Less than or equal to 60 days delinquent. |
| MAJOR DELINQUENCY | Greater than 60 days delinquent. |
| DEBT RATIO | Debt / Available credit. |
| DEBT TO INCOME RATIO | Debt / Income. |
| APPLICANT STATED | Parameter is pulling information stated or in any other way provided by the applicant on the application on the Application Entry form in the system. |
| APPLICANT CREDIT BUREAU | Parameter is pulling information from the credit bureau, as opposed to another source, such as the Application Entry form. |
| LEASE FINANCE |
Refers to companies that provide the lease finance but are not selling the actual object financed, if any. Example: An independent auto finance company. |
| SALES FINANCE |
Refers to companies that provide the object being financed in addition to the financing. Example: Marshall Fields card. |
Parent topic: Appendix : Summary of the Application Scoring Parameters