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LENDER DEFICIENCY CODES IN PEPS

Code Explanation
6000 Management & Reporting Deficiencies
6010 Not Filing ED 799 in a Timely Manner
6015 Not Reimbursing ED for Credit Balances
6020 Missing Documents in Borrower Files
6030 Documents Do Not Support Loan Detail or ED799 Records
6050 Non Segregation of Duties (Lender Audit)
6060 Failure in Reporting or Meeting Requirements of the Plan for Doing Business
6070 Not Completing, Inaccurate GA Required Reports (Lender Manifest, PIF, etc.)
6080 Not Completing, Inaccurate Other GA Required Reports (eg. Reconciliation)
6090 Not Responding to Program Review Findings
6100 Failure to Comply with GA or ED Reporting Requirements
6110 Failure to Report Insurance Fees to the GA
6150 Failure to Notify GA of Loan Purchase
6160 Failure to Notify GA of Consolidation Loan for Guaranty
6170 Failure to Notify GA of Underlying Loan PIF by Consolidation
6180 Failure to Notify GA for Pre-Claim Assistance (Default Aversion)
6200 Deficiencies in Reporting New Loans for Fees in Part II of the ED799
6210 Failure to Report Origination Fees
6217 Failure to Pay Fees on Loans Bought / Sold
6220 Failure to Report Loan Fees
6230 Failure to Cancel 120 Day Checks; Billing Past Eligibility for Outstanding Checks
6250 Failure to Report Prior Quarter Adjustments or Incorrect Adjustments
6260 Unpaid Consolidation Loan Fees
6300 Deficiencies in Reporting Loans Eligible for Interest Benefits in Part III of the ED799
6310 Failure to Report "Windfall Profits"
6320 Billing Loans at an Incorrect Interest Rate
6330 Incorrect Calculations for Average Daily Balance
6340 Failure to Apply "Windfall Profits" to Borrowers' Accounts
6350 Failure to Report Prior Quarter Adjustments or Incorrect Adjustments
6360 Billing During Delayed Interest Period
6390 Billing for Subsidy on Ineligible Loans
6400 Deficiencies in Reporting Loans Eligible for Special Allowance in Part IV of the ED799
6420 Billing Loans in an Incorrect Special Allowance Category
6421 Tax Exempt - Incorrectly coding loans as floor eligible - non-TTPA
6422 Tax Exempt - Bond Issues incorrectly coded as floor eligible - non-TTPA
6423 Tax Exempt - Incorrectly coding loans as floor eligible - TTPA
6424 Tax Exempt - Bond Issues incorrectly coded as floor eligible - TTPA
6425 Tax Exempt - Other floor related violations
6430 Incorrect Calculations for Average Daily Balance
6450 Failure to Report Prior Quarter Adjustments or Incorrect Adjustments
6500 Failure to Document Specific Activities
6520 Loan Records Do Not Support Part V Submissions
6530 Charging Interest to the Borrower During Eligible Periods of Deferment
6540 Incorrectly Capitalizing Interest
6550 Billing Loans Not Eligible Due to Sale / Purchase (After / Prior to Date of Ownership)
6580 Failure to Submit or Document Claims

Appendix A, Page 158


LENDER DEFICIENCY CODES IN PEPS

6590 Billing Ineligible Loans


6600 ED799 Does Not Reflect Lender's Portfolio
6610 Unable to Document Accuracy of ED799 Billing from Lender's Portfolio
6620 Loan Records Do Not Support Part VI Submissions
6650 Loan Summaries Do Not Equal Loan Details
6670 Billing for Loans After Sale
6690 Unable to Document Accuracy of ED799 from Loan Servicer Records
6700 Failure in Completing the ED799
6710 Failure to Correct Prior Program Review Findings
6799 Improper Calculations or Reporting of Loans Across Multiple Sections of the ED799
6800 Failure in Loan Servicing (Borrower Services)
6810 Defects in Promissory Notes
6820 Defects in Application of Payments, Refunds, Borrower Adjustments, Interest Rates
6830 Defects in Disbursement
6840 Defects in Disclosure
6850 Defects in Conversion to Repayment
6855 Failure to Notify Borrower of Loan Purchase
6860 Defects in Due Diligence of Collections
6870 Defects in Responding to Borrower Requests
6880 Defects in Skip Tracing
6900 General Program Requirements, Fraud, Abuse
6910 Failure to Do Credit Bureau Reporting
6930 Incorrect or Ineligible Periods for Deferments
6940 Incorrect or Ineligible Periods for Forbearances
6970 General Lack of Controls, Internal Reconciliation Necessary
6980 General Lack of Controls, Abuse, Independent Audit Required
6990 Falsification of Records, Refer to OIG
6999 Unknown Prior Deficiency Code

Appendix A, Page 159