Skip to main content

Kroll Launches Risk-Based Pricing Compliance Service

Dec 29, 2010

Kroll Factual Data, a trusted provider of independent verification solutions, has announced a new service to help clients save time and efficiently comply with the Fair Credit Reporting Risk-Based Pricing Regulations that take effect Jan. 1, 2011. Customers can now take advantage of the ability to automatically generate Risk-Based Pricing Notices with each credit report request at no charge and an optional automated fulfillment service to print and mail notices to applicants for a nominal fee. “We have been paying close attention as this new regulation was being created, and working to educate our customers about their need to respond,” said Dennis Littlejohn, chief operations officer of Kroll Factual Data. “Once the scope of the Fair Credit Reporting Risk-Based Pricing Regulations was clearly defined, we created this convenient way for our users to meet the new obligations it created for them.” Depending on each user’s Risk-Based Pricing policy, they can select any of the five pre-formatted letters available. Letters automatically populate with information specific to the type of notice and transaction. For transactions with more than one applicant, multiple applicant-specific letters are generated, as required by the regulations. For users who access Kroll Factual Data’s services directly through the internet, pre-formatted notices are available directly from each credit report. For those who access services via a system integration, three options are available, depending on the system, including: notices appended to the credit report; inclusion of customer score rank, score model percentile data and the disclosure as a Portable Document Format (PDF); or as a Hypertext Markup Language (HTML). The optional mail fulfillment service relieves clients’ operational staff of the burden of printing and mailing letters to applicants. Monthly management reports included with this service provide standardized, ongoing documentation to easily demonstrate compliance in response to an audit. For more information, visit
About the author
Dec 29, 2010
Industry Input Sought On Proposed Increases To Mortgage Licensing Fees

Conference of State Bank Supervisors seeking public comment on proposed increases

Building A Digital Bridge Between Separate Revenue Streams

Menu cloud-based technology capitalizes on the entire borrowing cycle

Economists Less Confident Rates Will Drop Following Fed Decision

After sixth consecutive month with no change, the likelihood of cuts in 2024 feels "more out of reach."

FHFA Final Rule Released

Rule codifies equitable housing programs, GSE Plans

FDIC Announces Closure Of Republic First Bank

The Philadelphia-based lender's 32 branches will now be served by Fulton Bank

Mortgage Servicers Added To Junk-Fee Naughty List

New release from CFPB lays out areas of improvement, and concern, for mortgage servicers.