Frequently Asked Questions

Sperlonga reports to Equifax, Experian, TransUnion, and Dun & Bradstreet.  

They accept late/skipped and on-time payment reporting, which provides positive reinforcement as well as habit correction, making Sperlonga’s Payment Reporting solution more effective in motivating positive payment habits.

Based on the due date of the charge, an account can be reported delinquent when it is 30 or more days overdue from the due date. The Credit Reporting Agencies report delinquencies in 30-day “buckets”. So if a charge is 30 days overdue, it will report in the 30-59 day “bucket”. If it is 60 days past due, it will report in the 60-89 day “bucket” and so on. The following is a list of common Credit Reporting Agency status codes:

• 11 – Current (On-Time) Account
• 13 – Paid or closed account/zero balance
• 71 – Account 30 – 59 days past the due date
• 78 – Account 60 – 89 days past the due date
• 80 – Account 90 – 119 days past the due date
• 82 – Account 120 – 149 days past the due date
• 83 – Account 150 – 179 days past the due date
• 84 – Account 180 days or more past the due date
• 93 – Account seriously past due and/or assigned to internal or external collections
• DA – Deletes entire account

For HOA reporting, Assessments, special assessments, late fees and late interest are reportable transactions which can make up a “reportable” balance to the Credit Reporting Agencies.

For Rental reporting, Rent, late fees, interest, or other defined lease obligation amounts can be reported.

Fines, damages, legal fees, etc are not included in the reportable balance.

Credit reporting can begin as soon as the following onboarding steps are completed. Sperlonga walks you through this entire process:

1. Notification*
2. Credentialing
3. Data Updates
4. Data Setup
5. Data Review & Approval

*Tenant/Homeowner/Account holder notifications are not required for reporting but we highly recommend this practice. We provide notification templates and education materials that you can share with your tenants/homeowners. They often make an effort to pay off their delinquent balance as soon as they are informed that credit reporting will soon begin.

All residents within each property or association must be reported to comply with the “fairness” portion of the FCRA. However, not all properties or associations under one management are required to be reported just because they happen to be managed by a single company.

No, there is no minimum number of units required. We report for clients who have 1 account or more than 10,000 accounts.

Any account designated to be on a payment plan (including accounts under some form of accommodation due to COVID or other similar hardship) are reported as “on-time, paying as agreed”. They are reported with the balance owed, but $0 of that balance is considered past due. This positive reporting encourages the account holder to comply with the payment plan agreement and build their credit while doing so.

HOA accounts are reported as Open, Secured monthly obligations which accurately describe the financial relationship between the homeowner and their HOA. As long as they own a home in the HOA, they have a regular, open account with a financial obligation.  Sperlonga reports many data points related to each account, in addition to account and portfolio type, including date opened, balance, payment history and past due amounts, if applicable.

Sperlonga does not attach the term “loan” to the account in our reporting. That is a function of how either the credit bureau or the credit monitoring service displays the account. Monitoring services such as Credit Karma do not have a category for HOA accounts. As a result, they will categorize the account under “Other Loans” . Read more about this here.