Company Name (Code): Colony American Homes (COAH)
Credit Policy, VAX #: COAH01, 502
Last Revision Date:
Applies to: All Applicants
RESIDENT SCREENING CRITERIA
WORKFLOW
1. RUN CREDIT (INCLUDING SOCIAL SECURITY FRAUD CHECK), PREMIUM NATIONAL CRIMINALWITH BEST PRACTICE
SUPPLEMENTAL (INCLUDING NATIONAL SEX OFFENDER), PREMIUM NATIONAL EVICTION, RENTBUREAU, AND OFAC
2. IF CREDIT PASSES, SCREENING IS COMPLETE
3. IF CREDIT FAILS, REVIEW FOR REEVALUATION ITEMS AND REQUEST REEVALUATION
a. IF REEVALUATION RESULTS IN ACCEPTANCE, SCREENING IS COMPLETE
b. IF NO ITEMS CAN BE REEVALUATED SCREENING IS COMPLETE
CREDIT SCORING PARAMETERS
Problem Type
CREDIT RECOMMENDATIONS
Years/Balances Scored
Recommendation
Credit Risk
Collections, Charge-offs,
Judgements, Open bkrt
2 Years
Limited Established Credit Accept Applicant (1 Month Deposit)
Late Payments
2 Year
No Established Credit
Accept Applicant with Conditions & Proper Documentation
Minor
Accept Applicant (1 Month Deposit)
Closed bkrt
1 Month
Student Loans
Do Not Score
Moderate
Accept Applicant (1 Month Deposit)
Medical Debt
Do Not Score
High
Accept Applicant with Conditions (1 1/2 Month Deposit)
Severe
Decline Applicant
No SSN
Accept Applicant with Conditions & Proper Documentation
Account Balances
Do Not Score under $200
INCOME CRITERIA
Rent-to-Income Ratio
Less than 33%
Between 33% - 50%
Over 50%
EMPLOYMENT/ RESIDENCY CRITERIA
Recommendation
Accept Applicant (1 Month
Deposit)
Accept Applicant with Conditions
and/or Proper Documentation
Decline Applicant
Length of History
Employment
Residency
Recommendation
-
-
-
-
-
-
-
-
-
-
-
-
YARDI RESIDENT SCREENING CRIMINAL SCORING POLICY
PRODUCT: Premium National Criminal
ACTIVATION DATE:
POLICY REVISION DATE:
SPECIAL PROCESSING INSTRUCTIONS
Felony
99
99
99
99
99
99
99
99
99
99
99
99
99
99
99
99
99
99
99
99
99
99
99
99
99
99
99
99
99
99
99
99
Misdemeanor
0
5
3
3
3
3
99
0
0
3
0
5
5
5
0
0
0
0
5
5
0
0
0
0
99
3
99
99
3
99
99
33) Incarceration Due to Conviction.
34) Any offense not listed above
0
0
0
0
3 or more in last 12 months
3 or more in last 12 months
3 or more in last 12 months
3 or more in last 12 months
3 or more in last 12 months
3 or more in last 12 months
3 or more in last 12 months
3 or more in last 12 months
3 or more in last 12 months
3 or more in last 12 months
3 or more in last 12 months
3 or more in last 12 months
3 or more in last 12 months
Release date within the # of years stated to
the left.
ADDITIONAL CONCERNS
No Charge Class listed
Decline
No Disposition listed
Name Match only
Decline
Decline
HOUSING CRITERIA
Rental History
Problem Type
Scoring Criteria
Recommendation
Late Payments
6 or more in last 12 months
Decline
NSFs
6 or more in last 12 months
Decline
Outstanding Balances
1 or more in last 36 months
Decline
$200 or more in last 84 months
$200 or more in last 84 months
Scoring Criteria
3 or more in last 84 months
1 or more in last 84 months exceeding $0
Problem Type
Timeframe
Minimum Value
Write-Offs
Collections
Apartment Community Filter
Civil Court Records
Filings
3 w/in 2 years
n/a
Decline
Decline
Recommendation
Reject
Reject
Recommendation
Decline
ALWAYS
Offenses
1) Alcohol Related
2) Arson
3) Assault &/or Battery
4) Bad Checks
5) Burglary
6) Crimes Against Animals
7) Crimes Against Children
8) Crimes against Gov't or Gov't Officials
9) Crimes involving computers (cybercrime)
10) Destruction/Damage/Vandalism of property
11) Disturbance to Peace & Order
12) Domestic Crimes
13) Drug
14) Drug - Sale, Manufacture, Distribution
15) Embezzlement
16) Fraud
17) Gambling
18) Harassment
19) Homicide
20) Kidnapping
21) Organized Crime/Conspiracy
22) OUI, OVI, DWI
23) Petit Theft
24) Purposefully obstructs, impairs or perverts the law
25) Registered Sex Offender
26) Robbery
27) Sex Crimes - Other
28) Sex Crimes against a person
29) Theft/Larceny
30) Traffic Violations
31) Trespassing
32) Weapons
Misdemeanor Anti Social - Anti-Social
Convictions are a combination of any of the
misdemeanor offenses included in this antiReturn Records
social category below.
3 or more in last 12 months
Monetary Judgment
Possession/Forcible Detainer
1 w/in 1 year
any
Decline
Decline
$200
n/a
Eviction Dispute Exception
CUSTOMER SERVICE
N/A
REEVALUATION INSTRUCTIONS
Outstanding Balance(s) to another Apartment Community – applicants that have a judgment or outstanding balance against them from a previous apartment
community is Rejected. If, however, previous judgment or outstanding balance has been satisfied applicant is eligible for rental
GROUP SCORING INSTRUCTIONS
Credit Accepted Applicants - take the highest individual score and apply it to the group.
SPECIAL INSTRUCTIONS
GRADE
A
A
A
B
A
B
B
C
D
G
R
R
R
GRADE/RISK/RECOMMENDATION LEGEND
RISK
RECOMMENDATION
Meets All Requirements
Accept Applicant (1 Month Deposit)
Minor
Income < 33%
Moderate
Limited
No Established Credit
Accept Applicant (1 Month Deposit)
Accept Applicant (1 Month Deposit)
Accept Applicant (1 Month Deposit)
Accept Applicant (1 Month Deposit)
Accept Applicant with Conditions & Proper Documentation
No SSN
Accept Applicant with Conditions & Proper Documentation
Income 33% - 50%
High
Income > 50%
Accept Applicant with Conditions and/or Proper Documentation
Accept Applicant with Conditions (1 1/2 Month Deposit)
Decline Applicant
Criminal History
Negative Employment or
Residency History
Severe
Decline Applicant
Decline Applicant
Decline Applicant