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PERFORM SKIP-TRACING
Agencies may require a contractor to perform skip tracing
for the loans and other assets being serviced by the contractor.
Agencies may issue task orders that include requirements for
this service which contains services similar to the those described
below. A task order may require any combination of these services.
These services illustrate some of the types of tasks that the
contractor may be required to perform under this contract, but
this is not intended to be an all inclusive list. Rather, it
illustrates the types of services a contractor may provide.
When required, agencies may issue task orders
to perform skip tracing which may require, but are not limited
to the following types of tasks:
- The contractor may be required to begin to aggressively
skip-trace a borrower within a specified time period of learning
that it does not have a current borrower address.
- The contractor may be required to perform at least those
skip-tracing activities described in 34 CFR 682.41 l(g).
- The contractor may be required to transmit periodically
(as specified in a task order) to an agency’s central database
all updated information obtained as a result of skip-tracing
activities performed.
REPORT TO CREDIT BUREAUS
Agencies may require a contractor to report on all loans
it services to all national credit bureaus on a periodic basis
in accordance with credit bureau requirements for the loans
being serviced by the contractor. Agencies may issue task orders
that include requirements for this service which contains services
similar to the those described below. A task order may require
any combination of these services. These services illustrate
some of the types of tasks that the contractor may be required
to perform under this contract, but this is not intended to
be an all inclusive list. Rather, it illustrates the types of
services a contractor may provide.
When required, agencies may issue task orders
that include credit bureau reporting services which may require,
but are not limited to the following types of tasks:
- All reporting may be required to be on electronic media
in an approved format specified by the credit bureau or the
ordering agency. The contractor may be required to report
information, as required by the credit bureau or the ordering
agency, such as the following:
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The total amount of loans made to the
borrower, within a specified time period of each disbursement |
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The outstanding balances of the loans |
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Information concerning the repayment status of the
loans, within a specified time period after a change
in that status from current to delinquent |
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The date the loans are fully repaid or discharged
by reason of the borrower's death, total and permanent
disability, or bankruptcy |
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Other information required by law to be reported |
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