Credit Plus has announced a new feature, FraudPlus ID, that can be added to its credit reports to help validate a borrower’s name, address, date of birth, Social Security Number and phone number. In addition, FraudPlus ID goes even further and reviews the borrower’s data against the Industry Standard Exclusionary Watch lists.
For just a minimal fee on each credit report, lenders will get a clear picture of their borrowers. They’ll also realize greater cost savings for those pre-qualifications who don’t qualify for a complete FraudPlus report. In addition, the feature can be turned on for every credit report thereby ensuring identity validation is always ordered.
“This new feature enhances FraudPlus by taking identity validation to the next level,” said Greg Holmes, national director of sales and marketing at Credit Plus. “By ensuring borrowers are who they say they are, lenders will have greater peace of mind that their risk of fraud has been minimized."