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Comply+™ by Credit Technologies

Comply+ is a turn-key compliance solution covering FCRA/FACTA (Red Flag/Address mis-match), Bank Secrecy Act (Anti-Money laundering) and FNMA Loan Quality (LQI) guidelines. Comply+ includes best practice solutions to minimize risk and enhance compliance efforts including,

 FACTA Compliance Certificate Service (FCS)

FACTA Compliance Certificate Service assumes your burden of complying with 12 CFR Part 222 / 16 CFR Parts 640 and 698 regarding the FACTA Risk Based Pricing Disclosure requirements including,

  • Compliance Certificate verifying that Credit Technologies is responsible for monitoring all transactions, then creating and issuing the required FACTA disclosures on your behalf.
  • Upon each triggering event, CT automatically sends the required, properly formatted, RBPD to every consumer via first class US Mail. Each letter is issued from you including your return mailing address alerting you to any address mismatch as required by FACTA.
  • In the event of a State, lender, GSE, CFPB or FTC audit, you simply provide the auditing body of a copy of the Compliance Certificate and refer them to CT for any needed audit documentation.
  • CT will, upon audit provide an FCS Compliance Report verifying issuance of any specific disclosure and compliance with the Act requirements.


Level One Authentication Services (AS1)

AS1 Authentication Services provide multiple identity verification, Red Flag and Anti-Money Laundering detection tools, combined into a single, color-coded report that can be reviewed in just seconds. Up to 14 of the required 24 exemplary Red Flag detection items are scanned dramatically simplifying compliance including,

Credit Radar and Credit Assure by CreditXpert

Credit Radar and Credit Assure are automated credit analysis tools that instantly identifies critical credit and score issues and opportunities. Revolutionary credit intelligence in an easy-to-read report that provides valuable insight into key information alerting you to items that impact approval decisioning and rates/terms. Credit Radar includes credit and score model trend data alerting you to exposure to last minute FNMA LQI problems. Credit Radar makes credit report review faster, easier and helps avoid surprises later in the lending process.


FNMA LQI Comparison Report and the LQI STAT team

The comparison report instantly analyzes virtually every component of the initial credit report and compares that data to the LQI refresh report, generating a color coded report detailing any differences. The comparison process will take just seconds, dramatically simplifying  compliance with FNMA “Undisclosed Liabilities” guidelines. Data comparison points include,

  • Existing tradelines including public records and collections Balances
  • Payment amounts enabling easy recognition of DTI changes
  • Inquiries and FICO scores
  • Data Set changes (borrower names, addresses, Soc Sec, DOB…)

In addition to largely automating a tedious and time consuming process, as a Comply+ client, last minute issues associated with a LQI Refresh report are handled by our specially trained LQI STAT team and receive the very highest priority.

To add Comply+ to your account, simply call 800.445.4922, option 1 or send your request us via email

For more information onComply+ or any Credit Technologies product or service, please call us toll-free at 800.445.4922. We'll be happy to answer any questions you may have. Not a member yet? - Join Now.

Thank you for considering Credit Technologies.

This information information is an overview of FNMA and FACTA requirements and does not contain the complete text of the act or guidelines, nor can it be construed in any way as legal advice. There is no guarantee written or implied as to the accuracy or completeness of the information contained in this document. Credit Technologies, Inc. cannot provide legal advice on this or any other matter. Please consult your compliance or legal department to ensure your compliance with appropriate GSE requirements and State and Federal laws.

 
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