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What to do with the aliens
Meet FACTA red flags requirements head-on with Informative Research’s new Red Flags Risk Platform MortgagePress.comInformative Research, Red Flags Risk Platform, credit report, FACTA Red Flags compliance
Informative Research has announced its Red Flags Risk Platform
(RFRP), a core credit report add-on designed to help brokers and
lenders meet the FACTA Red Flags compliance requirements to detect,
prevent and mitigate ID fraud.
With compliance for lenders past due (Nov. 1, 2008) and broker
compliance required May 1, 2009, Informative's Red Flags report
offers rapid adoption either as an "off the shelf" credit report
addendum or in a "customized" format to specifically reinforce
originators' existing policies and procedures.
RFRP uses the full breadth of fraud alerts from the three credit
bureaus plus all standard credit data to yield an expanded set of
prioritized, mortgage-centric risk alerts. The report addendum then
spells out valuable clarifications, risk explanations, suggested
actions, secondary products and trace data (additional names,
address and social security numbers). Most critically, it
prioritizes any suspicious information that might indicate fraud
and maps triggered alerts specifically to the FACTA guidelines.
Tapping 63 years of mortgage credit industry experience,
Informative Research engineered RFRP to minimize the costs (or loan
rejections) caused by unnecessary over-reaction to "false
positives" common in other non-mortgage identity tools in the
market. Further, Informatives Red Flags tool is the only one of its
kind that allows originators the option of customizing their own
risk procedures for FACTA compliance.
RFRP's "Suggested Actions" section can be fully customized (and
hosted) with direct links built for secondary products (such as
social security verification, or social traces) or to simply refer
issues for escalated effort. RFRP's risk level thresholds and
alerts can also be modified to meet the unique sensitivities and
choices of the originator.
According to Tony DEccliss, senior vice president of sales at
Informative Research, "Our Red Flags Risk Platform is unique in
delivering both a jump start and a ongoing core solution toward
FACTA compliance. Our customers are finding it invaluable in
meeting the issues and Red Flags policy and procedure hurdles."
RFRP is designed as a core solution to any mortgage originators
Red Flags compliance program. For more product information, click
here.
For more information, visit www.informativeresearch.com.
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