Red Flag regulations require that businesses comply with a documented program that identifies and addresses at least 26 potentially relevant indicators of consumer identity theft. Failure to do so could result in disruption of business, injury to your company’s reputation and heavy fines.
Equifax assisted the Consumer Data Industry Association in providing comments to federal regulators during drafting of the Red Flag legislation. We are uniquely qualified to help you:
• Understand complex Red Flag requirements and their impact on your business.
• Ensure a formal, written identity theft prevention program is developed.
• Identify and implement automated solutions that seamlessly integrate into daily operations and existing delivery processes.
In fact, more than 70% of Equifax customers use an Equifax fraud, ID verification or authentication tool for fraud mitigation. All the more reason to trust us to help you quickly implement a user-friendly automated system for addressing this compliance burden.
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Recent mortgage market turmoil has focused a great deal of attention on the industry's appraisal fulfillment processes, and several key stakeholders have concluded that artificially inflated appraisals may have contributed to recent mortgage industry issues.
Equifax Settlement Services offers a national network of certified appraisers delivering a competitive suite of full and limited valuation products. All appraisers in our network must meet industry standards and perform according to established expectations using business rules that our customers define. What's more, our appraisers are constantly measured against these standards and are rewarded for excellence as well as penalized for sub-standard performance.
The value to your business
- Access a technologically advanced third-party appraisal management system that includes procedures designed to assure appraiser independence.
- Instantly arrange appraisal appointments at the specific date and time desired by the borrower.
- Receive direct confirmation of appointment between the selected independent appraiser and the borrower in an average time of less than 15 minutes.
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Why use Equifax
As the needs of our customers have evolved, so have we. Expanding on our role as the trusted steward of credit data, Equifax has grown into the leading provider of technology-and analytics-fueled information solutions.