Ch 4 Base Segment Field 28

The video examines Base Segment Field #28, "Interest Type Indicator," from Chapter 4 of the Metro 2 Credit Reporting Resource Guide, assisting readers in using Metro 2 to accurately read credit reports, identify errors, and draft dispute letters to consumer reporting agencies (CRAs). This field specifies whether the loan has a fixed, variable, or adjustable interest rate, though Metro 2 permits leaving it unreported if the information is unknown.

This field helps verify loan terms on a report; errors—like a missing indicator for a known rate or inconsistency across bureaus—can be disputed as deviations from Metro 2’s standard, offering grounds for dispute letters to CRAs to enforce accurate reporting.