How does Mortgage Preflight address compliance requirements? (REG-Z, FACTA, ECOA, Red Flag…)
- Posted by kelly
- On May 1, 2017
- 0 Comments
Like all services offered by Credit Technologies®, Mortgage Preflight® was designed with compliance in mind. By providing a secure method for the applicant to preauthorize and pay for all credit report related costs, Mortgage Preflight® helps you comply with FCRA, GLB and Reg-Z (third-party fee restrictions) requirements. Our authentication process using the Precise ID platform satisfies many of the FACTA Red Flag detection and anti-money laundering requirements prior to even speaking with the applicant. In addition, access to Mortgage Preflight® requires that each account be enrolled in our COMPLY+ Service, assuring that the appropriate Risk Based Pricing / Exception Notices are issued to every participant and includes AS1 fraud detection services, providing additional fraud and identity theft detection.
0 Comments