Ch 4 K3 Segment Overview

The video provides an overview of the K3 Segment from Chapter 4 of the Metro 2 Credit Reporting Resource Guide, helping readers use Metro 2 to accurately read credit reports, identify errors, and draft dispute letters to consumer reporting agencies (CRAs). The K3 Segment is dedicated to mortgage-specific information, serving two purposes: (1) reporting a secondary marketing agency’s interest in the loan, including the account number assigned by that agency, and (2) providing the Mortgage Identification Number (MIN) when available.

This segment ensures mortgage details are correctly documented; errors like a missing MIN, incorrect agency account number, or absent K3 data for a mortgage account can be disputed as deviations from Metro 2’s standard, offering grounds for dispute letters to CRAs to enforce accurate reporting.