Metro 2 Special Comment Code CO: Co-Maker Released

Specification

Code	CO
Meaning	Co-Maker Released
Field	Special Comment (Field 31)
Record	Base Segment
Length / position	2 chars · 213–214
Category	Other Account Conditions
CRRG reference	CRRG Exhibits 6 & 7 (Special Comment Codes)

CO records a change in who is legally on the hook. The account itself continues.
CO does NOT close the account and does not change the balance.
CO does NOT retroactively remove the released co-maker from the history of the account before the release. It marks the release going forward.
The release must be a real legal release granted by the furnisher, not simply a request from one borrower to be taken off.
The comment is not a substitute for correcting who is reported. The released party's reporting relationship has to change in the segments and the ECOA Code, not just in a comment.

1A lender releases a parent co-signer from a student loan after the primary borrower meets a defined payment record.
2A bank releases a co-maker from a consumer loan following a divorce settlement and a formal assumption by the remaining borrower.
3A credit union releases a guarantor after the borrower's collateral position improves.
4An auto lender releases a co-buyer after a documented refinance of responsibility within the same contract.

Report CO in the cycle the release is effective.
Update the ECOA Code and the associated-consumer segments so the released party is no longer reported as responsible going forward.
Do not use CO to remove a co-maker who is still legally obligated. A borrower asking to be removed is not a release.
Do not delete the released party's prior history. The account reported accurately while they were obligated.
Keep the remaining borrower's reporting continuous; a release is not a reason to restart the tradeline.

A file can be structurally valid and still be wrong. These are the cross-field conditions Special Comment Code CO has to satisfy.

The ECOA Code must be updated for the affected consumers; a released co-maker should not continue to carry a joint or co-maker association.
The J1 or J2 Associated Consumer Segment for the released party should stop being furnished once the release is effective.
Do not report an association for a consumer who is no longer obligated; that is the pattern behind association-without-cosigner edits.
Date Opened, Current Balance, and the payment history are unaffected by the release.
Account Status continues to describe the account's condition for the remaining obligor.