Bulletin ID
DLB - 97 - 26
| PublicationDate: 7/1/97 BulletinID: DLB - 97 - 26 July 1997 DLB-97-26 Dear Colleague, During the past two weeks the LOC has been working to resolve issues for PLUS loan origination records and associated credit checks. Our evaluation found the issue to be with the credit servicer which had a malfunction to its system that began in mid June. The malfunction caused a variety of problems such as credit reports associated with wrong borrowers, multiple credit reports sent to one borrower, and an overall delay in the processing of credit checks. The processing of current PLUS loans has been corrected, and on July 23, 1997, the LOC began to process the backlog of loan origination records and credit checks that had been held while the issue was being resolved. Schools that have been patiently waiting for PLUS loan origination batches should begin to see them in their TIV WAN mailbox on Monday morning, July 28, 1997. By Thursday morning, July 31, 1997, the backlog should have been processed. If your school continues to have problems after this date, please call your Customer Service Representative at 1-800/848-0978. We appreciate your continued support, patience, and cooperation. Sincerely, Joe L. McCormick Chair Direct Loan Task Force |