11Secured and Collateralized Installment
Account Type Code 11: Recreational Merchandise
Account Type Code 11 means "Recreational Merchandise". A closed-end installment loan financing recreational goods such as boats, recreational vehicles, motorcycles, snowmobiles, and personal watercraft, secured by the item purchased. It is reported in Account Type (Field 15) of the Base Segment, 2 characters at position 84.
Specification
| Code | 11 |
|---|---|
| Meaning | Recreational Merchandise |
| Field | Account Type (Field 15) |
| Record | Base Segment |
| Length / position | 2 chars · 84–85 |
| Category | Secured and Collateralized Installment |
| CRRG reference | CRRG Exhibits 1 & 2 (Account Type Codes) |
What Account Type Code 11 means
- Covers titled and untitled recreational goods financed over a fixed term, with the item serving as collateral.
- Terms run long for the collateral class. Marine and RV paper commonly amortizes over 120 to 240 months, far longer than an auto loan.
- Does NOT cover a passenger vehicle used for commuting. A car, truck, or van is 00 even if the borrower uses it recreationally.
- Does NOT cover a recreational vehicle occupied as a primary residence and financed as real property. That is a housing loan, not recreational merchandise.
- Does NOT cover an unsecured loan the borrower happened to spend on a boat. Collateral is what puts the account here rather than under 01, and a lender that never perfected a lien is reporting an unsecured obligation regardless of what the money bought.
When to report 11
- 1A marine lender reports a 180-month boat loan secured by the vessel.
- 2A credit union reports a motorcycle loan with a lien on the title.
- 3An RV specialty lender reports a 20-year travel-trailer loan originated through a dealer.
- 4A bank reports a personal-watercraft loan that goes to repossession, keeping Account Type 11 through the charge-off cycle.
- 5A lender reports a snowmobile loan on a seasonal payment schedule matched by Terms Frequency.
Reporting rules
- Report the amount financed in Highest Credit, not the retail price of the item.
- Leave Credit Limit zero-filled. Recreational merchandise financing is installment credit.
- Use 00 for passenger vehicles. Routing cars into 11 misclassifies a large and well-understood collateral class.
- Keep the code stable through repossession, sale, and deficiency reporting.
- Report the long amortization honestly in Terms Duration. A 240-month boat loan reported as 060 misstates the obligation, and do not open a second tradeline for a financed service contract or accessory package rolled into the same note.
Codes and fields that must agree
A file can be structurally valid and still be wrong. These are the cross-field conditions Account Type Code 11 has to satisfy.
- Portfolio Type must be I (Installment), which requires both a Scheduled Monthly Payment Amount and a numeric Terms Duration expressed in months.
- Terms Duration on this collateral class routinely exceeds 120 months, so validation rules tuned to auto-loan ranges will produce false positives here. Tune the range to the collateral class rather than forcing the data to fit the rule.
- Credit Limit must be zero-filled. Recreational merchandise financing carries no revolving line, and a populated limit contradicts Portfolio Type I.
- Terms Frequency is normally M, though seasonal frequencies appear on snowmobile and watercraft programmes and are valid when they match the note.
- On repossession, Account Status moves while Account Type stays 11, and Date of First Delinquency must already be populated from the delinquency that triggered it.
- The K3 segment is absent. Recreational merchandise is not real estate, even when the collateral is a liveaboard vessel.
Common errors involving 11
B012B018B017
Portfolio Type Mismatch
The portfolio type does not match the account type or terms
Scheduled Monthly Payment Missing on Installment Account
An installment or mortgage account has no Scheduled Monthly Payment Amount
Highest Credit / Original Amount Is Zero
Highest Credit or Original Loan Amount is zero on an account that should carry one
Vocabulary
Keep browsing
- All 56 account type codes — the full set with categories and cross-field rules.
- Metro 2 codes cheat sheet — every CRRG code set on one page.
- Account Type field reference — position, length, and validation rules.
- Metro 2 format reference
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